A young professional was referred to me not long ago. The seller decided to try selling privately to save the commission. I tried to explain that every savvy buyer out there knows there are no commissions being paid, so any savings achieved would most likely go to the buyer. During the presentation I showed the power of the MLS system. When listed, the property would be exposed to more potential buyers through over 800 Realtors, increasing the potential for multiple offers and a higher sales price. My entreaties fell on deaf ears. Ironically, we listed the identical attached sister property with both properties being for sale at the exact same time. I called the private seller to inform him that his neighbors had listed their property on MLS and that it would be to his advantage to do the same if he wanted to get more money. “No” was the reply again; “getting some interest, doing fine, don’t need your help thank you,” was the reply. I explained I was not a self serving real estate agent just trying to make a commission, but a Realtor Consultant who has learned how to put more money in your pocket even after the commission has been paid.
Well both properties sold but with a huge difference. The private seller sold for $50,000 less than his neighbor’s identical property who used a Realtor. After commissions paid, he could have bought himself a nice brand new car for cash!
I will admit this true experience is a bit extreme, but statically, only a small percentage of private sells successfully close compared to a property sold using a full service real estate professional. It has been my experience that sellers who were successful, sold for less that the real estate commission, sometimes substantially less!
Want to pay yourself first, make an informed decision? I’ve helped many hardworking people over the last 25 years do just that.
Earning the right to be your Realtor® Consultant for life,