Now, ask the agent to show you actual verifiable data that supports the claim that the super duper marketing program had anything to do with selling any listing??? Hearing this question, most agents will be defensive or try to avoid a straight answer. WHY?? the fact is that your listing goes in the MLS database, and then 80-90% of the time, an agent from a different company who is working with a Buyer who might be interested in what you are offering shows that Buyer your home and he/she/they buy your home. Nowadays, the Buyers might have found the home at Realtor.com or other websites.....the listings show up at different websited only because they have been entered into the MLS database!!
Guess what.....the MLS is off limits to the general public, and no other entity has yet developed a publicly accessible database that allows the type of property searches that can be done with the MLS database.
There is no reason that areasonably intelligent person cannot sell a home without a Realtor......but logically lkely the time to sell will be longer, as your home will not be findable by Realtors working with Buyers......and because realtors view a by owner property as competition, not an opportunity for a sale to a Buyer.
So, you must ask if the extra $1000s of commissions is reasonable in light odf the probability of a quicker sale with a MLS listed house. Unfortunately, many Buyers seem to be afraid of buying directly from a Buyer without a middleman Realtor. Scare tactics used by Realtors do have an impact on the public!!
One thing fr sure...if you want to net x dollars from the sale of a home, you can offer a more competitive price when no commission is involved!! many Sellers just do not have the time to attend to showing a home, being involved in the back and forth of a negotiation, providing what the escrow company asks for, etc.
Remember, when you sell a home, just be totally honest in your disclosure of any past problems and any hidden defects......if you do that, you should not need to worry about any future legal problems over the sale of your home!!! having a Realtor represent you will NOT relieve you of the obligation to be totally candid about your home!!!
There is a midway solution...find a 1% Realtor who will offer limited servive re showing your home, etc., but who will keep your property active in the MLS. Even more economical, but with the lowest level of assisatance, you can find flat fees of$200-$500 for Realtors who do almost nothingexcept place your listing in the MLS. Your listing this way would typically include a 2.5% commission offer for any Realtor representing a Buyer who purchases your home...you would do the showings on sign calls, take calls from interested Realtors, open houses, negotiation,etc.still, for that effort, you could save 2.5-3.5% of sale price and price your home more competitively for the same net!!
I have tried to give a balance presentation of different approaches to selling your home....how much hand holding do you want, timeliness of finding a Buyer,,,,etc.. no one way is "right" !!! no matter what a biased realtor may tell you!!
Again though as Dan noted full service agents can do those same things. You really want to focus more on the quality of the agent and not so much on what they cost.
Focusing on the commission will probably net you a lower amount in the end then finding the best agent available. Great agents bring value to a transaction; they save their clients money, protect their interests and keep the transaction moving along.
Now, I didn't say all agents do this, I said great ones do, so don't be fooled into thinking that agent A is charging more than agent B so they must be better. There may be great agents who charge less and there are poor agents to charge more. Focus on the quality, experience and knowledge first, then discuss what they need to provide their top notch services.
A great agent is worth more than their commission, but a bad one will cost you in ways beyond just the commission.
All the answers here are correct.
Best to you!
That is a great question, typically you will not find a full service agent for 1%, and I need to tell you if you want to sell your home for the most amount of money and fast the you want to find a full service agent that can help you. A 1% listing agent is an agent that typically is a limited listing agent and all they will do is put you on the Multiple Listing Service and that is all.
When you sell a home you want to make sure you are protected, would that not be worth 3%? I do 3%, now that additional 2% gets you a full 18 point marketing plan that is proven to get homes sold fast. I tyically sell homes in 45 days, when using a 1% listing agent they are tyically on the market for 6-9 months and by that time you have misses the market.
So yes you can find a 1% listing agent, but typically you will not get any service from that agent.
What you will be looking for is a "limited service company". May get you in the MLS, but unless your property is valued near a million or more - don't expect much in the way of marketing or negotiating on your behalf. If you want the job done correctly pay for a good full service broker - you will get advice on how to maximize your properties value, your property will be professionally marketed and advertised and when offers come in you will have someone that knows how to negotiate real estate - this in its self has frequently been known to give greater return than the added commission cost. My job is to get the highest price for my sellers and the lowest for my buyers - and often spend much more than expected to achieve that - but as I said that is my job! With that said - before you list - advice and answers to your questions are always free and given happily.
Bardell Wagner, Broker
Re/Max Equity Group
1301 SE Tech Center Dr. # 150
Vancouver WA 98683
There are a couple of sides to agency...when you hire a sellers agent you are hiring a professional who will advocate for you, devise a marketing plan, work out a sales strategy, and work with you every step of the way protecting your best interests. You pay a percentage to your agent who then splits that percentage as an incentive to buyers agents to bring their clients to see your home, and hopefully, make an offer on it. The sellers agent represents you, and the buyers agent represents the buyer. Some agents will offer to do a dual agent where your agent also represents the buyer as well, but I do not advise this. You want to hire an agent who will only work for you, representing you...not any other party.
In real estate you do get what you pay for, and a good agent wants to represent you to the best of their ability, and to provide commission to the other side as well so that we are encouraging everyone to bring their best clients and offers. The average commission in our area is 5%-7%, but please remember that your agent doesn't receive all of that. My commission is 5% as a sellers agent, and I split that down the middle with the buyers agent. Both agents work very hard to bring everyone to agreement and to create excellent customer service that will encourage long term referrals. There are a lot of details involved in the real estate process, so instead of just looking at price, look at quality of customer service. This is just my advice and you can do with it what you will. :-) Please feel free to call or email me with any questions...I am, as always, happy to help!