Real Estate

Selling Your own Home

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            Now, if you are really sneaky, you can solve this problem by getting an unsuspecting REALTOR® to give you a CMA, and then sell your house by owner.  Of course, this means your house won’t be listed on the local MLS, excluding hundreds of potential buyers.  You will need to be constantly on call, for there will be no lock box to let in the potential buyers while you are at the beach for the weekend or at work during the day.  When that buyer is ready to make an offer, do you have a contract to fill out?  But, the real question, do you understand the contract? Have you disclosed everything that is necessary, to avoid any potential lawsuit? And since your buyers are most likely not working with a REALTOR®, have they been qualified, are they already working with a lender?
            Those are just some of the reasons I believe it is in the best interest for a home buyer…or home seller, to work with a REALTOR®.

Listing Bargains

            Now what about those “deals” that have popped up on the internet? “Save commission, pay a $450 flat fee and get placed on your local MLS.”  Well, if you look closer, you’ll find you normally do pay some commission – it is for the buyer’s agent.  Which means the only thing you get from the listing agent is placement on the MLS. Maybe he will put up a sign and lock box, yet, what incentive does he have to advertise or market your house? Do you think he will actively promote it or even fight for the highest sell price?  After all, that agent will get the fee if you sell your house or not.   At least with a traditional listing agreement, the seller is not out any money if the house does not sell. After all, the “listing agent” in this case is only taking a portion of that fee, since the person running the service is getting a cut. Just remember, you do get what you pay for. 

Working for the Client

             I believe that type of arrangement appeals to those who do not understand what the listing agent does. Once we had a listing that was a bit unusual, with a limited market.  Had this seller opted to use this service, I have no doubt he would have been out the $450 fee, and still not sold his house.  We aggressively marketed the property, held several open houses, sent regular emails to other agents, reminding them of this property, and kept the flyers stocked on the sign.  We created an internet listing on the property, and our broker ran weekly ads promoting the house. When the offers came in, we worked to get our seller the best price, and the most financially solid buyer.
            Buyers and sellers benefit from the services of a REALTOR®, providing them with safeguards and protection. For buyers, it makes the process more efficient, providing them the opportunity to find the best property for their needs.  For sellers, it helps them efficiently find qualified buyers for their property.  When negotiating a commission, sellers should find out what services they are getting.  They may decide a cut-rate commission is cutting out some services they need and want.