As far as your buyer broker fee, is it a buyer's broker fee that is considered typical in your area or is it significantly less? Here is a scenario for you to consider.
A plumber has 2 emergency calls and only has time to do one. One customer is totally willing to pay his standard additional fee for after hours calls, while the other wants to only pay the normal 9-5 rate. Whose plumbing do you think got fixed that evening?
Buyers are hard to come by, homes are plentiful. If some sellers are offering a buyers agent 2 %, while others are offering 4%, well, whose house do you think will be shown first, more often or presented in a more positive light? One guess.
I do believe the majority of agents will take their buyer client to whatever homes will work best for them, but your home just might be the last one shown.....
You dont get to drive a porsche for the price of a Yugo.....
I don't care whether you're flat fee, FSBO, low fee, no fee.
If your home is priced in my client's price range, fits my client's parameters (location, room count, #BRs, #Baths), and you're willing to pay a competitive co-op fee for buyer's agents, and I am AWARE of it (that's a biggie) then I'm going to show your home.
Yes, it may be more work for me, if you don't have an agent on your side, because I'll have to do a bit more work (it's certainly NOT double the work)... but I've worked with listing agents who are complete slackers and I end up doing all the work in those situations too.
If you have no interest, it is more likely that you are not priced competitively, than discrimination, in my opinion.
So that's the hassle of working with the seller that is represented by a limited services agent. I might show one, if it was the only choice available to my clients. But if there are 8 other choices (or more likely 42 other choices), why would I show the one that is likely to cause me the most extra work to complete, unless it is an absolutely fabulous deal for my client? Which leads to the next problem with most limited services listings. They are almost always over-priced. And not by a little, but by a whole heck of a lot. Which in the end, is the #1 reason I don't show them. Limited or full service, out time is wasted looking at over-priced property.
Realtors want their fair commission. In Phoenix it is generally x%. If you are off by .05% it will effect showings.
Now the Buyer Broker has to deal with a limited service, which really means they have to do the work of a listing agent and a buyer broker.
With that said.....THE PRICE OF YOUR HOME IS THE ONLY THING THAT REALLY MATTERS!
What ever price range you are in you have competition. You have to be priced better than those bank owned homes. Then you have to advertise this to every potential buyer out there.
Walk through your competition, are you the very best deal around?
When you are the best deal, it will not matter, you can disconnect your phone, Buyers will find you.
YES, YES, YES, some do!! With so many homes for sale today, it is crucial to have you home in alignment with the market. This means, be sure you are attracting buyers. Have great curb appeal, be priced at "market value", have easy access for showing, and you really should offer top commissions to the agents bringing you buyers. If you take a close look at homes selling and the ones that have been on the market for a long time. You will see that the amount lost of the home sale price is far more than what you would pay for in commissions.
If that is the case then yes agents will be less than thrilled with the prospect of showing these homes. The reasons vary from agent to agent, but mostly it is because we have to deal with an uneducated seller. (and end up doing the work of 2 agents in the process) Many times the property is overlooked due to being overpriced for the market as well.
Brokers listing as a flat fee thrived in the good market, but they really are not brokers at all, they simply charge people to post their properties in a venue made for agents and paid for by agents while having no agency responsibilities for the people they claim to represent.
If this is not what you mean, then please clarify.
I agree with Elvis. If you have had no activity you are not presenting a value proposition to the market.
If you choose to go with a flat-rate service, be sure to ask them what assistance is available once you receive an offer. If you're completely on your own, then it's best to get yourself educated on the sales process and the required documentation for your area.
That said, some agents do not like working with a flat fee listing because the home seller is often not aware of the many requirements and stipulations imposed by the ADR Purchase agreement and by the tenants of Agency.
Selling a home is a multi pronged legal transaction. A home seller without good representation can easily get himself in trouble and the agent representing the buyer is not obligated and sometimes, due to agency requirements, not allowed to advise the seller of a breach in contract or other issues.
Thus, I would not say agents discriminate, a good one will show your home if it is priced within market standards and meets his or her client's requirements.
Generally a lack of showings in an indication of pricing problems. The bank-owned homes may be the bigger culprit. Has your agent performed a recent market analysis to determine your position in the market? We advise reviewing market conditions on a weekly or bi-weekly basis in this market. With hundreds of bank owned homes coming on the market weekly, you simply may not be competitively priced.
In addition, you may not be getting the Internet exposure needed to find a buyer. Nearly 85% of home buyers are performing searches on the Internet... not on an MLS system. In today's market much of what we show our clients is driven by their own searches rather than searches performed by the agent. This is a very new real estate trend. We have had to hire a full time Internet marketing person just to keep our client's listings in full view on the Internet so they can be found by home buyers and sold.
Those agents that do have not built up a strong enough business
Find a strong agent who can serve you well.
Catherine Kolodin, GRI
Eco Broker International