Reduced Realtor Fees and Discount Real Estate Brokers in Winter Haven and Polk County
Looking for a discount real estate broker in Winter Haven or the Polk County area? Over the past few years new discount real estate companies and online purchasers have made their way into the marketplace. These companies seem to offer easy home selling solutions at a discounted rate, but unfortunately they are almost always doing it at the expense of the seller and leaving thousands of dollars on the table. As a seller we know it's easy to focus on the expense of real estate commission, but unfortunately focusing on the commission alone is a mistake made too often. Lets talk about the different types of discount brokerages currently affecting the market.
Flat Fee MLS: These are companies that will agree to charge a flat fee to simply place your home on the MLS in hopes of attracting buyers and MLS participating Realtors. They do not provide professional marketing which is imperative to getting top dollar, nor do they provide the detailed services a radiational Realtor would. These tasks include: coordinating showings, making sure buyers are legitimate and pre-approved, handling questions and offers from agents, negotiating to get the best price base for your home based on market conditions/comps, preparing a complete contract packet with necessary disclosures so you are protected, sending contract documents to a title/closing company, setting up inspections, negotiating any requested inspection repairs, meet with appraiser to ensure home appraises and be prepared to rebuttal any low appraisals and the list goes on and on. Additionally, you will need to have the time to keep in touch with the buyer's agent, the buyer's lender and the title company to make sure the transaction stays on track with no preventable delays. All this while trying to pack up your home, coordinating your move and securing a new place for you to live!
Discount Commission Company: These brokerages promise to charge a reduced commission rate than traditional brokers. Their business model is purely quantity over quality. Because these agents are working on reduced rates they won't be able to pay for professional quality photography or spend the necessary time needed to fully market your home. This will directly result in a lower sales price. Discount brokerages tend to sell homes for thousands of dollars less than what market leaders can get which completely offsets any perceived savings you are getting from a discounted commission. Don't simply focus on commission, focus on the money that will be left in your pocket.
Online Buyers: Honestly this is probably one of the most discouraging and unfortunate trends I see in our market. Companies like Zillow, Offer Pad and many others will claim that they will buy your house cash without the hassle of any showings or inspections. Please be aware these are companies are for one thing and that's to make money at your expense. They will for sure buy your house, but at a price that will guarantee them a quick profit. After buying your home they will immediately relist it at a higher price and pocket the proceeds. This should open the eyes of any prospective sellers. Don't leave thousands of dollars on the table!
In closing, before signing on the dotted line please research your prospective agent's marketing, their proof of production, their average sales price vs list price and the average days their listings spend on the market. These are all important factors that will tell if you should trust the agent to handle one life's biggest assets.
If you need a Realtor in Winter Haven or Polk County and are considering a discount brokerage, give us a call to see what we do for our clients and how we earn every penny of our commission.
