01/10/2024
Agent commissions have been a hot topic across the nation these past few months, and I wanted to take a second to share a story that helps illustrate the importance of having a professional in your corner when it comes time to sell your home.
One of my team members recently helped clients in search of their dream home. The perfect property popped up, but it was listed with a discount brokerage, charging only 1 or 2 percent. This meant that the only service the sellers were offered was a listing on the MLS. There were no current pictures showing updates to the home, square footage and other property information was incorrect and/or incomplete, and the owners had to handle EVERYTHING.
My team member reached out to schedule a showing for the interested buyers. It was scheduled for the morning of the first available day, and the clients flew in from out of state the day before to make the appointment. The night before the appointment the seller texted the agent to let her know that they had accepted an offer from someone who hadn’t even seen the home.
While a lesson in professionalism could be given from this poor example, that is not the moral of this story. It turns out the home was listed far below market value by the discount brokerage that made no effort to verify property information. The owners were left on their own to handle negotiations and accepted an offer before any showings had taken place, and ultimately sold for hundreds of thousands of dollars less than they would have received had they hired a professional that was willing and able to educate, guide, and empower.
I get it, paying real estate professionals up to 6% on the sale of your home is far from insignificant, but then again, the sale of your home is far from an insignificant transaction. In some cases, you really do get what you pay for. Look at the hiring of the right agent as an investment in a smoother, more profitable, and less stressful transaction.
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