Real Estate Broker · Jacksonville FL & Middletown, CT · Member since 2008 · 1k+ posts · 632 votes
I'm about to turn over my rehab to my realtor next week. Hardly any action on the fsbo, which is ok I guess, since I AM STILL NOT COMPLETELY DONE YET!!!
Anyway, this is the realtor who sold me my first two homes, is absolutely excellent, and I dragged her out to show me all the dumps on the mls, before I realized there were no deals on the mls and went off yo find my own deals. She has always helped me out with comps, etc.
At the same time, I'd like to save a buck. Do I go for the discount or no? Will I get less service for a lesser commission? Should I pay her her full fee, because she does go absolutely out of her way for me, even when she makes nothing out of it?
Residential Real Estate Agent · OH · Member since 2008 · 553 posts · 24 votes
19y
Originally posted by "r2d246":
Do you think that whole "flat fee MLS" idea is gaining momentum or dying off? Here we had a place that offered that. Now they closed down. So I can no longer get the big discount through them.
I think you just answered that question. It takes a certain ammount of time, effort, and money to market a home. When it is a sellers market a full service realtor can still normally put more money in the sellers pocket than a list it and forget it program.
Bottom line: If you use a cut rate agent, you'll get cut rate service and less advertising in this buyer's market. The cut rate agents make it up in volume.
Minna, your agent is most likely counting on your volume but once she's busy and/or takes on more buyers, you won't be a priority.
Also, if she has multiple listings, yours may be placed in an obscure place on her website/page.
Another risk is you can be adviced to list your property below where you should :protest: so as to guarantee a quick sale with as little effort & advertising as possible.
IMHO... if you are in a BUYERS market trying to sell a house for RETAIL value and you want to get the most ATTENTION on your property early on, absolutely find the best Realtor who specializes in the type of property you have for sale and pay them GENEROUSLY. (It's different when it's a SELLERS market.)
Realtors are paid on commission. If two properties are basically the same but one has a higher commission, they will push it over the other. So would I!
I would price the property competitively also not reaching for the higher dollar, unless the property is really special. Maybe even do something special that makes your house stand out... "The 50" plasma TV in the Living Room Stays!", or something that makes your house better.
Go to open houses of competing properties in the area to see what your buyers are seeing. See who has listed the properties, and experience how hard they work at the open house. If they just sit there and don't try to SELL you in some way, they'll do the same when they host your open house. You want a Realtor who will SELL for you.
In hiring the Realtor, I would get a specific performance commitment from them, detailing what they will do to market your house, ads, open houses, online postings, fliers in front of the house. Don't just settle for signing a contract, tying your property up for 6 months with a Realtor just waiting for a buyer to show up off the for sale sign.
Real Estate Consultant · Phoenix, AZ · Member since 2008 · 223 posts · 1 vote
19y
Wow!
Another post on discounting, Which the other one is still going. this subject is a tough one. But I have notice since the last post lots of discounting companys are closing down. You have to realize, you have to make money to keep the doors open. Options are important and sticking a sign in the yard and just doing MLS isnt going to sell property. Most sellers get upset after 90 days. Its just a expired listing about to happen. So in a sense I do appriciate discount brokers. they make me look real good when I provide multiple photo's, virtual tours, open house, Ads, Co-op flyers MLS, sign and flyers in the yard. etc.. this is what I know sell houses.