what is a discount broker?

Asked by Mickey, Glen Cove, NY Mon Apr 13, 2009

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Robert Northfield’s answer
Robert North…, Agent, Maplewood, NJ
Thu Apr 30, 2009
From its name you will realize that it is a discounted service broker. You will get what you pay for or sometimes less. For a fee they will put up the home on the MLS. You get very little in terms of service. Usually the sale will suffer and in many cases the homeowner/seller sells the home for less. Owners usually do the selling, showing, qualifications, etc. 9 times out of 10 the home won't sell and owners usually then sign up with a full service broker.
2 votes
Voices Member, , Benton County, OR
Sat Jan 9, 2010
Someone who charges less than..... A broker that will not do his best to help you and charges a High Commission........
1 vote
Joshua Zarga…, Other Pro, Lynbrook, NY
Sat Jan 9, 2010
A broker that will not do his best to help you, for a low commission.
0 votes
Joshua Zarga…, Other Pro, Lynbrook, NY
Thu Jan 7, 2010
When you are looking to cut corners you are left with a round box that rolls down. LOL
0 votes
Carol Cotton, Agent, Locust Valley, NY
Tue Jan 5, 2010
Discount brokers offer limited service for a minimal fee/discounted commission. This may seem like a viable option to a homeowner until they realize that the limited service is usually nothing more than placing the property on MLS and calling the homeowner with appointments for showings - usually handled by the homeowner. What seller's learn quickly is how valuable a full-service real estate agent's services are. Not only will a higher commission rate bring interest from more agents, but will bring services such as print and web-based marketing, hosting of broker and public open houses, pre-qualifying buyers, etc. making the selling process much easier for the seller.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Apr 30, 2009
Beware of discount brokers, oftentimes that's all they have to offer; when working with a reduced commission very little marketing if any will be done on your behalf.

Anna
917-576-5376
abrocco@laffey.com
0 votes
Gail Gladsto…, Agent, 11743, NY
Mon Apr 13, 2009
In Long Island, the seller does NOT deal with the potential buyers directly. The discount brokers offer out a very minimum amount of commission to the co-broker. With so many properties on the market these days, there will be very little cooperation between agents (no incentive) to show a home that is paying minimal for time invested.

Commission paid out is a very important tool to selling a home.
Web Reference:  http://GailGladstone.com
0 votes
Carmen Di Bi…, Agent, Nyack, NY
Mon Apr 13, 2009
A discount broker usually charges a set fee or deeply discounted commission. The seller often deals with potential clients directly. The seller usually agrees to pay the customary co-brokerage rate for the area to the buyer's agent. There is no set co-brokerage rate as all commissions are negotiable. However, offering less than that will put you at a disadvantage to other homes offering full commision to the buyer agent.
0 votes
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