The Discount Listing Agent- Seller Beware

May 1, 2007

Okay, here is a quote from a local discount listing agent, “List your home in the local Realtors® MLS for a flat fee as low as $399.” Now what?  A sign in your yard, some flyers, maybe a virtual tour for an additional fee- Home Sellers, you should wake up and listen to what the agent is actually saying.  This agent actually goes on to say he works dilligently to sell your home.  I am not sure how he can back that statement up.  I mean, if he dilligently sits by the phone and waits for buyers to call, I guess you could say he is being a little bit truthful.

The whole truth is, YOU HIRE US TO SELL YOUR HOME, NOT JUST LIST IT! Selling is an art form, it requires strategy and focus.  Are you telling me you would work for your employer full time for potentially 60, maybe 120 days for $399 bucks? Common sense tells me you said no way!  Believe me, that agent said the same thing.

In a market where profits on existing homes are up sharply, you’re going to tell me that you want an agent that will take less money to do less work?  This strategy is just insane.  My clients tell me they are looking for a sharp Agent with top notch skills, tools, and drive to SELL their home at the absolute HIGHEST possible sales price!  Are you that client?  Or is your strategy to quibble over maybe $3k when a quality agent wants to earn you 10 times that amount?  My bet is you’re going to go with a winning strategy, not a lay down agent who puts a pretty sign in your yard and lists your home (the needle) in the haystack we call the MLS.  Don’t get me wrong, the MLS is key, but it is not the end all be all of selling your home.  It’s a combination of tools that veteran SELLERS have in their portfolio.

Do yourself a favor.  Shop for an agent that can WIN.  Avoid the plastic salesman who simply lists your home and disappears, until you call him/her in desperation and buy the full service package he should have advised you to take in the first place.  Gimmicks are a nasty game when you need your home sold now and you’re counting on the profits to move from point A to B.

And trust me, this is a gimmick.  The discount MLS only fee was invented to attract a For Sale By Owner or FSBO.  Realtors knew the FSBO could only hold out so long without over 90% of the market being able to see their home- which is the case.  There is only so much exposure a FSBO can get on their own without finally giving in on day 73 to the Realtor they should have hired in the first place.  Unfortunately, regular every day sellers are getting caught up in this mess and it is unfortunate.  Don’t make the mistake some of my current clients made.  They sat on the market with a simple flat fee listing for almost 200 days before they just could not stand it anymore.  The baby they were having that created the need to up-size was now here with the crib now stationed in the living room.  This is crazy!  The photo that was on the flyer actually demonstrated this fact making the home look even smaller than it really was!  We’re in the process of putting this home in the proper light now and I feel confident I can help these sellers- but what about you?  It’s not to late.

Hire a Realtor that brags about SELLING your home, not discounting it.

That Real Estate Guy

By the way… How does one find such a Realtor that will do the job? Simple, find the Realtor that will give it to you straight, explain the risks clearly, but is aggressive and hates to lose.  Avoid anything kitchy or smarmy.  A benz does not mean “the best.”  It simply means, they have a nice car.  Simply listen to the strategy, do they understand your goals, and how important is your listing to them, personally.  Are they challenged by your home, area market, or the asking price.  This is simply a starter, I am sure by reading the above you have an idea of the type of Agent you want selling your home.

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