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All over the map. Upfront costs are high for all homes regardless of price. The more expensive homes might justify a more elaborate brochure or upgraded on-line presence. Sometimes you kick yourself when a home sells very quickly and you have a box full of unused flyers. Other times even the nice places just do not find the right buyer for an eternity. The replenishing of supplies and renewing of online listing can really add up, easily eating more than half of the agent's portion of the commission even for costly homes. This is all "out of pocket" and if you do not have a large number of listings whose closings can help with cash flow it makes for some TIGHT finances...
Depends on the value of the home. $650K is the average sale price in my area. At that price, I am likely to invest at least $1000 and do so locally, to support local businesses.
I pay for the pre-listing home inspection (at closing), professional photography, interactive floor plan tour, enhanced realtor.com thing, maybe staging, maybe a home warranty....depends on the specific home....mailings, putting on the broker tour feedbag, brochures that pass the thud test.
If the property is located in an area conducive to Open Houses, I invite all the neighbors ( the best sales force,ever) and pop for a few gallons of ice cream or whatever to compel people to stay and chat with their neighbors,
walk -ins and so on.
I spend $750-$1,200 (on average) for a house depending on the house. I don't do any print media...
I pay for a prelisting home inspection on all my listings, video tours (my new thing), enhanced R.com listing, accent staging, color flyers, custom domain name, etc...
I third the "it depends on the home."
I am fee-for-service so my fees goes up or down with the costs associated with marketing the property.
I am fee-for-service so my fees goes up or down with the costs associated with marketing the property.
As you know I am not a "fee for service" although I have a sincere respect for the model. I get paid only if the sale closes.
Because of my out of pocket investment at the average price point, in my area, I cannot afford to play the pricing game or work with unmotivated sellers. I strive to do more so the seller gets more.....translation: in this market that means the property sells sooner, rather than at a reduced price, later on.
All the out of pocket expenditure and marketing cannot overcome a bad price, in any market.
As you know I am not a "fee for service" although I have a sincere respect for the model. I get paid only if the sale closes.
Because of my out of pocket investment at the average price point, in my area, I cannot afford to play the pricing game or work with unmotivated sellers. I strive to do more so the seller gets more.....translation: in this market that means the property sells sooner, rather than at a reduced price, later on.
All the out of pocket expenditure and marketing cannot overcome a bad price, in any market.
I agree. I get paid regardless and I don't play the pricing game. My clients still need to feel that they got good service at the end of the day.
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