Across the country, the term “Discount Realtors” is fast becoming one of the most talked about topics in the real estate industry.
Many home sellers are learning that they no longer have to pay the high cost of a 6% listing commission. This fast-growing and upcoming trend has created multiple low-cost listing programs, along with more and more discount real estate brokers offering to save you money on the sale of your property. New businesses and multiple websites are springing up across the country simply because property owners wanting to list and sell their home successfully are now demanding fixed rate listings or discounted commissions.
Before choosing a discount real estate broker; It is important to understand that not all are the same. There are at least two important differences between a flat rate quote or a so-called commission-free quote. One is whether they provide full or limited service; and the other is if they are companies with authorized brokers or if their staff work part-time.
Unfortunately, many home sellers are learning, you just don’t get much more than you pay for. Too often, if you are paying a discounted listing fee, you may also be getting less than you deserve from those companies that only provide you limited service and may also have unlicensed employees who take care of most of the details. It is important that you, as a home seller, fully understand the difference between “discount real estate brokers.” Many real estate agents who promote themselves in this way; fit a profile commonly associated with less than complete real estate services. They typically request your listing for a very low fee that you pay upfront online before meeting someone face-to-face, if you ever do. This type of flat-rate MLS listing only covers very little of traditional real estate services. In general, you are basically paying for someone to list your home for sale in your local MLS and you will be alone in handling all the other tasks necessary to protect your interest during the multi-level home sale process.
You may find that although the $ 300- $ 500 flat rate listing fee seems to save you money; You end up feeling overburdened when the listing expires and your home hasn’t sold. All real estate agents are regulated by a board of real estate agents in their specific area and pay annual fees that cover the possibility of listing on the local MLS. It doesn’t cost them a penny more to have their ads run on national MLS platforms; like Realtor.com, Trulia, and Zillow. Listings are automatically submitted to national internet platforms within 24 hours of the agent submitting them to your local MLS. These large, locally-based or internet companies may even go as far as providing you with a sign and a safe; But for the most part, your small fee covers only this minimal amount of service. In the long run, even a little more than a few hundred dollars can seem expensive when you realize that a full service and not just an MLS listing is really needed to successfully sell your home. For example, your home viewing should be handled by a my4walls reputable company with a professional scheduling service so that anyone wishing to enter your home is not only monitored to ensure a safe display of your property, but is also performed follow up for any necessary comments. You may have to do the screening work yourself, as well as handle all the tough negotiations, proper legal paperwork, and more.
These are just a few of the things that can be a bit tricky at best for someone with no experience in home sales and that would require more personal attention from an experienced licensed broker. There are many reasons why you want a real estate professional to provide full service for a low flat fee; Unless you are an experienced FSBO; It is highly recommended that you stay away from discount real estate brokers who offer a limited service that practically puts you in the same position.