What does working with a discount broker truly cost sellers? Today let’s take an in-depth look at this listing mistake.

 

When it comes time to list, some sellers may be tempted to work with companies or agents offering discounted services. Paying less may sound attractive, but working with these companies (or agents) can cost sellers far more than it saves them.

For example, we recently met with a seller who had been bombarded with cost-cutting brokers knocking on his door. Though these brokers were offering a reduced fee, they were also offering reduced service. They weren’t offering the seller guidance on how to achieve a successful sale; they didn’t have Zillow or Realtor.com “Premier Agent” status, and they didn’t offer maximum exposure. Even the price tag these brokers initially offer isn’t a done deal.

Sometimes, the leads that come through these discount real estate companies are sent to other agents. This means sellers seeking a good deal may wind up paying the same commission fee as anyone else. In other words, the Realtor-client relationship set up in these situations is based on lies. And, because real estate transactions constitute such major life decisions, this deception could have serious financial consequences.

At the end of the day, sellers who believe they’ll be paying a 1% commission fee are actually setting themselves up for minimal service and additional expenses later on in the transaction. To truly make the most of a transaction, sellers need access to the kind of resources, service, and support that these discount brokers simply can’t (or won’t) provide.

One major resource these discount brokers cut back on is marketing. And without marketing, getting top dollar simply isn’t possible. Sellers need as many buyers as possible to see their listing in order to achieve a successful sale.

“To truly make the most of a transaction, sellers need access to the kind of resources, service, and support that these discount brokers simply can’t (or won’t) provide.”

So, choosing an agent based on a discounted commission fee alone is actually a major mistake. You may save money up front, but you’ll certainly lose money in the long run.

When you work with high-quality agents like us, though, you can expect to earn well above list price on the sale of your home. In fact, our team recently helped a seller earn $21,000 over asking price. These results more than make up for the amount sellers “save” when working with discount brokers.

If you have any other questions, would like more information, or want to discuss how we can help you sell your home for top dollar, feel free to give us a call or send us an email. We look forward to hearing from you soon.