This could be a very simple post – I could easily say “There isn’t one!” and be done with it. However, I have noticed lately that there still seems to be the misconception among the general public that there is a set commission that a Real Estate agent (whether Realtor® or not) charges to sell your home. There simply isn’t which leads to another question….
What are discount brokers? Again, a simple answer – I have never met one.
There are, however, two different types of Real Estate companies. Traditional (Full Service as some like to call
themselves) and Limited Service (a more a la carte type menu of services)
•· Market your property to the fullest within the guidelines set forth by their respective company. Such advertising MAY include listing your property in the Multiple Listing Service, Open Houses, internet based advertising, interior and/or exterior flyers for your home, local newspaper ads, email advertising, etc.
•· Full representation* when negotiating contracts, preparing paperwork, working on behalf of the seller, coordinating details of closing such as inspections, appraisals, closing, etc.
•· Marketing materials such as yard signs, websites, etc.
•· Lockbox for your home
•· Some MAY include appointment setting services for showings of your home
By no means is the above list a TOTAL representation of what a Real Estate agent can do for you. It is merely presented to show the difference between the types of companies that are available. Limited Services Firms:
These firms will generally offer services as “add-ons” to help you to sell your home. They may ask for a fee up front (or may not) and offer you services for individual fees such as:
•· Multiple Listing Service
•· Contract Negotiations
•· Coordinating Closing
•· Advertising (multiple avenues)
When selling your home there are numerous models available to choose from and one is not better than the other depending on a seller’s precise situation. Each scenario garners a unique approach. So, while you may have heard that Real Estate agents charge X% to sell your home – it is simply not true.
So, if the end result is ultimately the same – GET YOUR HOUSE SOLD – then the burden rests with the consumer to do their homework and interview many Real Estate agents before trusting one of their biggest transactions to another. Interview Real Estate agents from both fields – Limited Service and Full Service – choose the agent with whom you are comfortable and feel you can trust, confide in and will serve your best interests. Again, each seller is different, each Real Estate firm is different. This is a service based field – as with any other service oriented company there is a broad range of prices for services to pay as well as services offered.
One analogy that comes to mind is servicing my car. I can take my car to the dealer to have services performed. When I leave my car has been washed, I have a flower on my dashboard, the car has been vacuumed and I have had free doughnuts and coffee while waiting. That’s if I chose to wait or I could be shuttled to where I need to go until my car is done. OR I can take my car to the local mechanic who I trust and have the same work done by someone that I know and have confidence in. No flower, no coffee and doughnuts, no car wash and vacuum. The same quality work was performed, the same diagnostics were done and I was somewhere that they knew me, cared about me and my circumstances and I was comfortable. You can put all the frills on a service but that doesn’t guarantee the quality or professionalism.I hope that you find this information helpful and should you have any questions regarding selling your home you can feel comfortable calling or emailing me any time – I love to answer questions about what I do! And, remember, don’t let anyone bully you into thinking that one is better than the other – it all depends on your situation. It may come as a surprise to you after reading this post but I am a Full Service Firm.