What most sellers don’t know is that there is another option to sell their home and literally $AVE THOUSANDS of dollars in real estate commissions. There are discount brokerages that either charge a lower percentage listing commission or a flat fee. Times change and just like people don’t listen to CDs, MTV doesn’t play music videos and cartoons aren’t only on Saturday mornings anymore, selling real estate has changed. Let’s be honest, do you think any traditional real estate agent will voluntarily tell a seller how they can save on commissions by listing with a discount brokerage? It’s highly doubtful, since it would be taking money directly out of that agent’s pocket.
Keep in mind that not all discount brokerages are the same. Like I mentioned, do your research. There are discount brokerages that offer MLS only listings. These are limited service (DIY) options that allow a seller to list their home in the MLS and the seller handles the entire transaction on their own. This can often be intimidating to a seller who has never sold a home before on their own or simply doesn’t have the time handle the phone inquiries, coordinating showings, negotiating offers, performing due diligence on a buyer’s financial ability to pay and completing the closing process that involves coordinating inspectors, appraiser, surveys, title, lenders, etc… It’s not necessarily rocket science, but it is extremely daunting and there is something to say for realtors who have experience and knowledge of closing hundreds of transactions.
If a flat fee DIY approach doesn’t fit a seller’s needs, there are also full service discount options where a seller receives all the benefits of having a real estate handle their transaction and still save a TON of their equity by still not paying 6% to sell your home. Since the listing side of a real estate transaction is the easiest side, everything can be done to list your home without an agent step foot on your property. How often would you physically see a traditional listing agent anyway? Spoiler alert…it’s usually just two times…once when they sit at your kitchen table or meet you at Starbucks to promise you how much they are going to sell your home for and the last time is when they pick up their commission check at the closing table. Spoiler alert #2…real estate agents don’t sell homes. The real estate market determines what your house will sell for based on what a seller is willing to sell their home for and a buyer is willing to buy the home for.
Remember, selling a home is a large transaction, so perform your due diligence. If you use coupons at the grocery store, search for the best prices for products you buy online and negotiate when buying a vehicle, you should research options when selling a home. Do the math, selling a $300,000 house and paying 6% in real estate commissions is $18,000 of your equity that you’ll never see again! When you can get the EXACT same MLS access and the EXACT same 3rd party websites (zillow, realtor.com, trulia, etc.) and the EXACT same real estate brokerage websites that advertise your listing, why would you pay more?
FREE TIP: It’s an astronomically small percentage of homes that are listed by the same agent that also represents a buyer too. The large majority of homes that sell in the MLS are listed by one agent and sold by another agent (generally not even by an agent in the same real estate office).
Good luck with selling your home and let me know if I can help. Also, if you think learning about selling your home with a discount real estate agent is awesome, ask me about a Buyer Rebate when buying a home…it will blow your mind!!