In the height of the real estate market, there were several flat rate and fee MLS listing companies that arose when you could slap a yard sign up on a house and it sell practically instantly. After all, who needed a Realtor? Real estate practically sold itself!
Times have changed and you can tell just by turning on the news that the real estate market has changed and shifted drastically. Often it leaves the average seller and spectator in the dark as to what’s happened. What’s my property worth? How long is it going to take to sell it? What advertising do I need to do to get my home or land sold? These are common questions that may go through your mind – along with countless others.
Flat rate and fee MLS services aren’t available in Murphy NC largely. Even if they were, they’re dangerous no matter where you are selling a home. Why? It’s easy to look strictly on the up front financial side of the net sheet and say you save yourself thousands of dollars by skipping on a Full Service Realtor. However, consider these thoughts:
- Advertising sells homes. You’ll never find a buyer, especially with remote locations in the mountains of Murphy NC, if folks don’t know your home is available for sale. With flat rate services, they don’t offer advertising other than the MLS. That’s only a very small portion of the equation. Expansive advertising, reputation, and a marketing plan with follow up is key. Also consider, do you have the time to put it in all the advertising venues your house deserves?
- Leads come from advertising. Leads are prospects who inquire about your home. Without advertising, you don’t get leads. Even in the off chance on comes from the MLS presence, who’s going to follow up on them? Without someone to return calls, show the home, answer questions, and close the purchase, you’ll never stand a chance of getting it done. A flat rate broker can’t do this.
- Legalities. Do you know what can protect you from getting sued by your prospective buyer? There are a lot of legal ramifications that can come back to haunt you if you don’t dot your I’s and cross your T’s. Do you know which ones to do? This is a huge implication and saving few bucks for a tens-of-thousands liability isn’t worth the gamble.
- Negotiations. Negotiations is a HUGE part of a real estate transaction. In fact, it’s probably one of the largest parts of it. Once a buyer is ready to purchase your home, let the negotiations begin! Price is always ones of the first items – the buyer wants the cheapest price and the seller wants the most money. It’s an age old story yet you want to make sure that it works out the best for you it can. Then, there are repair negotiations after the home inspection that can often destroy a transaction if not properly handled. It’s imperative to have experience, training, and a true advocate for your position. Otherwise, you’re liable to “give away the farm” when you don’t have to. How much would that cost you?
- Lender Negotiations. With many homeowners owing more on their home than it is worth in today’s marketplace, we often have to negotiate with lenders to find a way to get the home sold. This takes a high level of training and experience. Would you want to try to tackle a mortgage company or bank on your own?
- Pricing. Pricing a home is one of the most key elements to getting it sold. We all have preconceptions of what our home is worth, and understandably so! You’ve worked hard on it, perhaps raised a family in it, and it simply becomes a part of you. Mispricing a home happens a LOT and it’s important to make sure you “hit the nail on the head.” How many homes have you sold? What comparable sales did you use? Those are important and you won’t get any guidance from a flat fee broker – they don’t care if it sells or not because you just paid their full fee upfront. Hire someone who can guide you and show you a logical pricing strategy.
- Performance Based. As I mentioned above, a flat rate MLS system doesn’t care if you sell because they just made their fee… upfront. In my book, you just paid too much because they have no vested interest in you OR your home! A traditional Realtor has a vested interest in your home… just like you do. They have time and money in advertising, showing, enhancing, and doing all the things they do for you. Regardless of whether they charge 5% or 20%, you don’t pay them a dime till they’re successful! Now that’s how you get your real estate agent’s interests in line with yours… and certainly not through an upfront fee.
- Scams – some of these internet MLS sites I researched are straight money stealing schemes. They charge usually $500+ and it doesn’t go anywhere but their website. Some even claimed “MLS Exposure.” Their site has little traffic and it doesn’t go to the MLS that is used in the area of your property. If that’s not a ripoff, I don’t know what is.
- Time. Do you have the ability when a buyer prospect calls to drop what you’re doing and go show the house? In today’s world, jobs, children, distance from the property, and more can make it REALLY hard to this!
So don’t come out of your real estate sale looking like the broken piggy bank! Hire a professional, full time Realtor with your best interests in mind. Call The Poltrock Team in Murphy NC today and find out the difference! 🙂
The Poltrock Team – Murphy’s #1 Real Estate Team – REMAX of Murphy NC – www.MyMurphy.com – JohnPoltrock@gmail.com – Call us Toll Free at 1-866-Murphy-NC or 1-866-687-7496