LIL' BUDDY'S BLOG - "CHEAPER?" - DISCOUNT BROKERS RARELY BETTER!
THE CHICAGO REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Hi folks, it's just me, Buddy Holly Moss!
I'm very grateful my humans, Dean & Sue Moss, got me this special new chair - makes it easy for me to write my weekly Lil' Buddy's Blog. Hope you find my little rants helpful!
At our last Dean's Team status meeting yesterday afternoon, Dean and Team Member Iwona Filipiak were very troubled by what seems to be a growing trend among home sellers - selecting a professional Realtor solely on the basis of WHO'S GOT THE LOWEST PROFESSIONAL SERVICES FEE! You know, you wouldn't chose a lawyer that way, or a doctor (or a vet, in my case). For some reason, however, many looking to sell their home feel everyone doing real estate is all about the same, so you might as well sign on with what seems to be the cheapest company. Right?
Woof! That can create problems!
Today, many Real Estate Discounters charge an up-front fee, regardless of whether they sell your house or not! This up-front fee ranges from a few hundred dollars, to several thousand dollars, from one high-profile company catering to the For Sale By Owner market. In this last instance, one of our current clients, who formerly used this "Buy Owner" service, said a pushy sales lady came out, mentioned how much the home sellers would save by working with her company rather than a Licensed, Full-Service Real Estate Team, and proceeded to charge them over $5,000, whether or not the house would sell.
Our Team's current clients said they didn't have the money to pay that much up front, and asked about the guarantee. No problem with the payment, she mentioned, and proceeded to take their Master Card number. Three equal installments, she added. Sorry, heavy conditions apply to getting a refund, and no refunds after thirty days. No guarantees either - but, according to our clients - she seemed pretty convincing!
"What do we receive for our investment?', our clients asked. The lady promised some degree of exposure online, and, for a small ADDITIONAL charge, a little phone screening of potential buyers. There was no exposure on the Realtor's Multiple Listing Service, and the company was NOT a licensed Illinois Real Estate Brokerage Company, and none of it's sales people were licensed!
Three months later, in a market in transition - NO SALE! No refund from the By Owner company, and she NEEDS TO SELL! She listed with Dean's Team, for our usual reasonable fee - but the money paid to the "Discount" company - GONE, and NOT REFUNDABLE!
With all of our Team Tools, including our substantial web presence, and the benefit of the Multiple Listing Service, in today's Buyer's Market, interest is lighter than we would like. But interest is steady - and our buyer can be assured of top staging and negotiating support - not available with a discount company, except for extra charge! Our Team sticks with our clients like glue, through the transaction closing and beyond. Not so for the "cheap" folks! Finally, no one else, especially the low-budget guys, have my own ability to DOG THE DETAILS, and make sure there are very few bumps in the road. No one calls me, Buddy Holly Moss, "The Enforcer" for nothing!
In the end, virtually all of our clients net more walk away money than with the discount folks - and they've lost the up-front investment the discount company made them pay. With Full-Service Real Estate Teams, you only pay for service AFTER a successful close - never before!
Of course, some homes listed with Discount Brokers do sell - but, on average, for less money, and with more time on market. See this recent article on Realtor.org for details.
Dean, Iwona, and the rest our Team wanted me to remind you of all of these important considerations, before you make the wrong decision, and regret it.
Hey, you dogs! I always look forward to your comments, input, and suggestions. Just drop me a line - and kick in a little toward your humans' ISP fees!
YOUR ACE REPORTER ON FOUR PAWS,
BUDDY HOLLY MOSS
