Everyone wants to save money, right? And especially when you’re selling your home and counting your pennies for your new home! More than likely the highest dollar item you’ll be facing with the sale of your home is the commission paid to both the agent who you (hopefully know, like & trust!) choose to list your home with, and to the agent who brings the Buyers.
These days you have all sorts of ‘real estate agents’ beating their drums trying to grab your attention. Additionally, they’re saying all sorts of confusing and conflicting things regarding what their ‘fee’ or commission is! You have the REALTOR® type agent: this would be the licensed person who usually is an independent contractor working with a Broker. They typically have extended real estate education and can’t even use that registered trademark unless they are the real deal. They work by commission and are under the auspices of the Texas Real Estate Commission and its rigorous Code of Ethics. Their job is to protect their client’s best interests, even above their own.
And then you have these other ‘types’ of agents screaming for your attention…” flat fee real estate services” or “discount brokerages” among others. There is a myriad of business styles for them and I don’t claim to understand all of them. This is definitely one place that You Get What You Pay For. You are not paying for their constant supervision and attention…and protection. And the consequences of not having that experienced oversight during, what is likely the largest monetary transaction in your life, can be detrimental to you. It might cause you to say, “I’m Going to Regret This!”.
I am starting a new Series of Posts on my business FB page, TheRockyMountainTexan, illustrating the various issues that can happen when the unsuspecting, frugal home Seller tries to go it alone, or without proper assistance from an educated REALTOR®. The Series, titled “I’m Going to Regret This” is starting out with something that just happened to such a Seller – and I was the agent for the Buyer.
Example One: My client needed a little help with their closing costs in order to purchase the home from the Seller. I wrote the offer, asking for up to $6,000.00 in Seller-paid Buyer’s expenses. Now, that is quite a bit of money and could make a substantial difference to the Seller, and their bottom line! (And since they weren’t willing to hire a real-deal-agent to represent them, one must assume that every penny counted to them, right?) The photo above is from the actual offer.
The negotiations with the Sellers never mentioned anything except price…that was the only issue they saw. Several discussions took place regarding how to deal with the ‘price’ and a new offer was drawn up…when suddenly…I received an email that said ‘they had just noticed the $6,000.00 in closing costs!’ Oh my goodness! That would have been one of the first responses out of a real-deal-agent in the first perusal of the first offer to their Seller client! This could have been a seriously unpleasant surprise for them at the closing table.
It is during the negotiation stage of the offer that the REALTOR® and their expertise really become apparent. As you can see, one ‘little’ oversight can turn a Seller’s positive sale into a negative fairly quickly.
Don’t go it alone! Take the NO SURPRISES route and hire your own REALTOR®! I will be with you every step of the way smoothing your path to the closing table.