Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Brandon:
I don't think I've ever said that my program works for every possible situation. If the average price of homes in my market is 200K lets focus on what works for the majority of the market.
So, here you go: $200,000 home @6% $12,000
My fee for that home $2,950 Seller holds open houses and the buyer comes as a result of their efforts.
Savings $9,050. So would that seller be happy? You bet.
Now add another agent to the mix at 2.5%, which is what most of my sellers offer.
$2,950+$5,000=$7,950.
Savings $5,050. Is the seller still happy? Yep.
Third scenario: The seller decides he wants me to show the home and I generate the buyer. $2,950 +1.5%= $5,950.
Savings $6,050.
Please understand, this is how I choose to operate my office and may not be representative of all Help-U-Sell offices. As I have stated before, we all operate within a framework the company recommends, but have flexibility based on our individual markets.
Happy Holidays!
...So, here you go: $200,000 home @6% $12,000
My fee for that home $2,950 Seller holds open houses and the buyer comes as a result of their efforts...
Matt, in this example,I'm trying to get a picture of exactly what the seller gets for the $2,950. What services is the seller provided for this amount?
Are you the sellers agent in this example? I'm wanting to know if you have a fiduciary "agency" relationship with the seller, or if it is a "customer" relationship, and if it is "customer", does the seller understand that. This is one of thelegal issue that I have when I think about offering any type of fee for service package.
Who is representing the buyer?
Who does the negotiating? Is that all between the buyer and seller?
Who writes the contract, that is who fills in the blanks, and writes the addendums, amendments, etc.
I'm trying to find out who goes to bat for the buyer, or for the seller in the event of problems that arise.
Ok, I'm reading all of this, and I have a question, before I ask it though, I want to disclose that I'm not a realtor..
The question is.. Can someone operate a Fee for Service agency, and still be a realtor with another office legally, and can they do it without violating some type of conflict of interest?
Interesting question. As a licensed broker, I can operate my office and be the broker of record for another office, (rent a broker). As a realtor, you place your license with one broker only.
Just from my own experience, and from what I've heard from a realtor friend in another city - I think the level of service of a company such as Help-U-Sell will depend on the broker/agents in that particular office. I personally have represented the buyer in purchasing a property listed by Help-U-Sell. I felt the co-broke offered was fair, and the Help-U-Sell agent handled all the aspects of the seller's side of things that I normally expect the seller's agent to handle. (Put it this way, I've had to handle "both sides" of the paperwork from time to time when it was a "full service" agent on the other side.) So I was very pleased, and I personally would not hesitate to show & sell another Help-U-Sell property in the future. How "discount" some of their services are remains a mystery to me.
So while the HUS office in my town is very professional, my realtor friend in another city, told me about a seller who listed with "fee-for-service company that shall remain nameless" and the whole transaction was a nightmare! This particular agent was handling both sides of the tx (dual agency in AZ) and didn't even deposit the buyers' earnest money deposit until 2 weeks later, and then it was for a lower amount than stated in the contract (because the buyer "just didn't have the funds"! And then this agent didn't even disclose this to the seller until closing!!!
So definitely it depends on how well operated each office is, and also the competency of the agents they hire. I personally just had a HORRIBLE experience with a flat fee company in my area (not Help-U-Sell).
I feel very bad for the sellers trying to decide who to list with. IMHO, it's a "seller beware" situation. All I can say, whether they decide to go discount or not - INTERVIEW, INTERVIEW, INTERVIEW. Normally it's a matter of "you get what you pay for", but alas that's not always the case.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
