Discount Real Estate Brokers
Let’s dispel those decades-old real estate myths that no longer apply to how real estate works today. Sure, some real estate agents are reluctant to change and will continue to recite sound bites they learned from their broker. But let’s get real…things have changed! Here are the truths when it comes to ditching the traditional real estate broker selling your home your preferred way.
What is a full service broker?
A full service broker handles all aspects of the sale of your home including pre-sale preparation, marketing, negotiations and transaction coordination.
What is a discount broker?
Traditionally, a discount real estate broker charges a lower commission that is relative to the services you choose.
Are you a traditional discount broker?
No. We offer both discount real estate services and full service real real estate services.
Don’t you have to charge a percentage of the sales price?
No. All real estate commissions are negotiated and brokers come in all sizes and shapes. In recent times, there have been many different business models. There is no one business model in real estate. There are brokers that offer services only a la carte. There are brokers that offer full service with a lower commission. There are brokers that offer a flat fee instead of a percentage based rate. All are completely legal and acceptable. The services you choose and how you pay for them are up to you.
How can a small company provide the same exposure for my property?
The internet is changing the way business is done. Once your property is listed on the MLS and other various listing feed sources, your listing is made available to agents of large and small companies as well as to buyers worldwide through listing syndication. The success of your listing depends on the quality of the information i.e details, photos, virtual tours provided. Plus, Realty By Design provides all the traditional vehicles of exposure such as open houses, for sale sign, buyer packets as well as non traditional vehicles like text messaging and QR codes to name a few.
Do you help with pricing the property?
Absolutely. Pricing your home is the most important aspects of marketing your home. We will present to you a price opinion based on recently sold and active homes as well as current market conditions.
Do you do Open Houses?
We will host a broker open house and a premier public open house launch at your request. While open houses can be an effective marketing tool for for-sale-by-owner sellers, the National Association of Realtors reports that less than 2% of houses sell as a result of a public open house. Traditional real estate agents host open houses in order meet unrepresented buyers in hopes of increasing their database of buyer prospects – not because it’s an effective way to sell a house. Due to increasing safety concerns for agents and homeowners, we limit public open houses.
I heard that “discount brokers” lower the buyer’s agent commission?
In addition to the listing side fee, you will pay a percentage of the sales price of 2.5% which is offered to the buyer’s broker through the MLS at closing. You are fully aware of the amount of the commission being offered to the buyer’s agent. It is your choice and will be outlined in our listing agreement. The buyer’s agent is not informed of the amount of the total seller commission. And quite frankly, they do not care how much or how little you are paying Realty By Design. The adage “WIFM?” applies here. Agents only care about how much you pay them.
Don’t you have to reduce services in order to keep the commission low?
No. We are able to keep the commission low because we have extremely low overhead. We have a smart, efficient business model that works and saves you money. You are encouraged to compare our marketing plan and services to anyone else.
Will other brokers show and be able to sell my listing if it’s not listed with their company?
Absolutely! The entire purpose of the MLS is to be able to share listing information and offer compensation to the broker who finds a buyer for your property. Once listed on the MLS, every real estate broker has access to your information.
If you personally find a buyer for my home, will I owe you the buyer’s broker commission?
Yes. If Realty By Design brings a buyer for your home, we have earned the buyer broker commission that was offered.