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We're just about to put our house on the market and we are thinking of using My Dog Tess to list it. They charge 1% of the sales price vs. the typical 3% of other brokers. I'm also thinking of interviewing other brokers who are more full service. MDT is not exactly a discount broker in that they do have listings with photos and a webpage for their homes but they don't do print advertising or other services.
One of the brokers I'm going to interview talked about having a staging person come in, etc. She seemed on top of it and seems to take a pretty active stance WRT to sales. I wonder, though, if the extra 2% is worth it. We're not talking much - maybe $3 - 3.5k difference out of our pockets, but given the already thin margins we're looking at with our house, I don't know if that'll be too much to make it doable. We're not looking at getting a profit from the house, but we'd at least like to make what we paid for it. Luckily we've got a ton of equity in the house, but we'd like to keep as much of it as we can.
So, do you think that having a more full-service agent is worth the extra 2%? (Or more if there's a staging charge.)
How come you are thinking 2% more on top of the 1%? Full service realtors charge 6% and get to keep the 6% if the find the buyer as well, if a buyers agent brings the client to you than that agent will get the 3%. So you will at least pay 6% of the sales prices and other costs at closing.
How come you are thinking 2% more on top of the 1%? Full service realtors charge 6% and get to keep the 6% if the find the buyer as well, if a buyers agent brings the client to you than that agent will get the 3%. So you will at least pay 6% of the sales prices and other costs at closing.
Sorry, I didn't clarify the %ages. The 1% with MDT is the seller's commission. There's an additional 3% for the buyer's agent for a total of 4%. The other broker will charge 3% seller's commission + 3% buyer's agent. So it's a net difference of 2% between the two seller's agents.
One thing you might want to check into is how much representation you'll have with MDT when it comes time to negotiate the price and repairs, inspecitions, etc. Does the 1% include being on the MLS and realtor.com? Does that price also include keeping you updated with new listings of comps that will affect your asking price? Does MDT provide expertise when it comes to pricing your home at the outset? Pricing is critical right now. If you price too high, you're not going to get many (if any) showings. OTH, I've seen a few discounters recommend a list price that is ridiculously low. So, whoever you interview I would definitely want to know their pricing strategy and how they came up with their recommendation.
I personally don't think the print advertising is all that crucial, however great quality flyers in a sign box are important. Also, probably the #1 marketing advantage (besides having your home show well to begin with) is the Internet presentation on the MLS and Realtor.com. Right now, I think high quality virtual tours are practically a requirement to generate any kind of interest in slow markets.
Just be careful to look beyond what would appear to be a 2% savings. A good agent could save you that much and more if they're a good negotiator when it comes time to accept an offer. Also, there can be "glitches" during the escrow period with inspections, appraisals, financing, etc. An agent that keeps the ball moving and is watching out for you can be invaluable. Also, a 2% savings isn't a savings if your house fails to sell because of poor marketing. Just lots of things to consider.
However, just going with "full service" doesn't necessarily guarantee success, either. There are fantastic agents out there, but there are also some mediocre and subpar agents, too. If you do decide to go with "full service" make sure you hire someone that's worth that extra commission and can make you more money in the end.
reminds Me Of A Employment Website I Saw 10 Years Ago Called Monster.com
Who Associates "monsters" With "jobs"!!! I Bet They've Flopped By Now.
Lol
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