Sellers are Doing all the Work
Many sellers agree to pay a 6% commission to real estate agents who are aware that 80 to 90% of buyers are performing their own internet home searches online and are very successful finding homes that they want to make appointments to see.
When buyers purchase a home for $900,000, the seller pays the real estate agent around $54,000 for the research that the buyer has performed during their internet home searches that lead to the steps required to purchase the home. Other buyers are working with buyer agents who usually receive half of the commission or 3% of the purchase price, then each of the agents involved in the transaction are paid $27,000 each for completing the transaction.
Sometimes the more desirable homes sell in less than a month. In the end, the seller pays $54,000 of their hard earned equity to the real estate agent or agents. The buyers have access to many real estate websites that show all the homes listed in the mls and the homes that are being sold as for sale by owners. Everyone has access to the sales information since it is easily accessible online.
There are other options!
Today, sellers have the choice to work with a 6% commission agent, or a flat fee agent which can cost as little as a few hundred to a few thousand dollars to place their home for sale in the mls. Most sellers offer 2.5% to 3% commission to any realtor who provides a ready, willing and able buyer.
There are real estate marketing programs that will offer full service to sellers for the 6% commission, the home is listed in the mls and will also allow the seller to participate in the marketing of the home and if the seller finds the buyer then and only then the commission drops to a total of 2% commission to reward the seller for their successful personal marketing efforts.
There is also one of the newer real estate marketing programs that is a non-mls listing that costs a total of 2% commission for realtor assistance and support to a seller who is a for sale by owner. The seller performs many of the sales functions while the realtor mentors the seller throughout the transaction by performing many of the full service actions required for marketing, contract preparation, contract negotiation, support to the buyer regarding title insurance, home inspections, attending settlement and resolving issues that arise during the time between contract execution and settlement.
These revolutionary marketing programs allow the seller to keep at least two-thirds of the old fashioned 6% commission for their family not the agents family. There are hundreds of newer companies offering their own versions of discounting and Do it Yourself marketing programs that can save home sellers more of the equity in their home.
Save your money!
If you want to save large amounts of money when you sell a home you owe it to yourself to explore the many alternative ways to sell your home and potentially save thousands to tens of thousands of dollars.
For a free list of some of the more interesting and unique real estate marketing companies that are offering discounts to sellers contact us today!
Leave a Reply