| Most homeowners will use a real estate agent to sell | | | | yard signs and the Internet. That's what home |
| their home. With more than a million realtors | | | | buyers are using to find homes. And any agent can |
| nationwide, how do you choose one? Most home | | | | provide these marketing tools. |
| sellers will either ask their family and friends for a | | | | If the brokerage you hire is spending a lot of money |
| referral or they'll call the agent who sold them their | | | | on television ads, billboards and park benches, you |
| home originally. Some will choose the agent who kept | | | | have to ask yourself how that is benefiting you. Are |
| in touch through neighborhood marketing. Others | | | | they looking for buyers for your home or simply |
| choose a brand name brokerage they recognize and | | | | attracting more business for themselves and |
| take whichever agent answers the phone. While all | | | | justifying their high fees? |
| these methods are fine, there are some things you | | | | MYTH: You Have to Pay a High CommissionReal |
| can do to be more pro-active in selecting a | | | | estate agents who charge a high commission want |
| brokerage and an agent. | | | | homeowners to think they have to pay six or seven |
| Select a Real Estate Brokerage That: | | | | percent in order to sell their home in this market. |
| - Is properly licensed and in good standing with the | | | | The truth is there are many alternatives to paying |
| state. (This just requires a quick phone call or a visit | | | | such high commissions. There are discount firms that |
| to the appropriate Web site. The department that | | | | offer full-service for as low as a few thousand |
| licenses and regulates the real estate industry in your | | | | dollars. With a full-service discount real estate |
| state may be called the Real Estate Division, the | | | | company, home sellers receive all of the services |
| Department of Real Estate or the Real Estate | | | | they would get with a high commission brokerage, |
| Commission.) | | | | but without all of the cost. |
| - Belongs to the local Association of Realtors and the | | | | There are other real estate companies that discount |
| local Multiple Listing Service (MLS). | | | | their fees by reducing the level of service. These are |
| - Specializes in residential home sales. | | | | good for home sellers who are willing to take on |
| Select a Real Estate Agent Who: | | | | some of the work, such as taking calls and showing |
| - Works in the real estate business full time. | | | | the home. Fees can start at only a few hundred |
| - Is a Realtor and a member of the MLS. | | | | dollars. |
| - Is experienced in residential home sales. | | | | Checking into these companies can save home sellers |
| - Demonstrates competence and local market | | | | thousands of dollars. |
| knowledge. | | | | MYTH: You Get What You Pay ForHome sellers will |
| Once you've determined that a brokerage and an | | | | find that most real estate agents charge the same |
| agent are fully licensed, experienced and qualified to | | | | high commission yet agents don't come close to |
| meet your needs, you'll need to decide how much | | | | offering the same value. Call a brand name brokerage |
| you're willing to compensate them for their services. | | | | with many agents and chances are you'll get a |
| Use the following information to demystify this | | | | newer, less experienced agent. Do they have the |
| decision-making process. | | | | same level of experience, negotiating skills and |
| MYTH: Bigger is BetterMany home sellers think if they | | | | marketing budget as a seasoned agent? Certainly |
| retain a large brokerage, all the agents in the office | | | | not, yet they want the same commission. This |
| will be trying to sell their home. There is rarely an | | | | doesn't mean they won't do a good job and |
| incentive for an agent to sell a home listed by | | | | succeed, but you are not getting the same value (i.e. |
| another agent in the office. Agents typically rely on | | | | what you pay for), compared to hiring a top |
| the MLS for information on homes for sale and are | | | | producing agent. |
| happy to show and sell homes listed by agents | | | | It's not difficult to find top producing agents working |
| outside of their brokerage. | | | | at discount brokerages. These agents have |
| The MLS levels the playing field, so don't worry about | | | | discovered they can make more money in volume by |
| the size of the brokerage. Focus instead on the | | | | charging home sellers lower fees, while still providing |
| strengths of the agent. | | | | full-service. And home sellers are happy because |
| One thing many home sellers overlook is the fact | | | | they're saving money and receiving full-service. |
| that smaller brokerages are often comprised of more | | | | Selling a home is a complicated process and it does |
| experienced agents. A lot of new agents get their | | | | require the use of professionals, especially in this |
| start at large brokerages, while experienced agents | | | | market. Remember, the commission you pay does |
| often leave to start their own brokerages. | | | | not ensure value. Select a real estate agent who is |
| MYTH: Brand Name = More Marketing | | | | licensed, qualified, experienced, knowledgeable and |
| Regardless of the size of the brokerage, the | | | | ready to represent your best interests. With a little |
| marketing of individual homes is typically paid for by | | | | research, you will find someone who will sell your |
| the listing agent. It has been proven time and again | | | | home quickly and will help you get as much money |
| that the most effective marketing tools are the MLS, | | | | for it as possible. |