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24 NOV

Reasons For Not Using a FSBO or Discount Broker

By Jeff Lichtenstein

There are lots of reasons to use a Realtor when selling your home. Here are 18 of them.

  1. Discount brokers do discount marketing. They won’t get market value. If there is a pool of 50 buyers, he will miss 35 of them. Thus, the top price range should be slotted for 10% less.
  2. Marketing material will be non-existent.
  3. They don’t have the proper mediums to place the marketing material.
  4. Photos won’t have night shots, HDR, drone, angles, etc.
  5. Write-up will be worded improperly.
  6. Brochure will be amateurish.
  7. Web presence will be non-existent.
  8. They don’t have the database.
  9. Open house avenues will not be there.
  10. Mistakes will happen in MLS like the one with the development field not being in because no one knows what they are doing.
  11. It won’t be in our IDX, meaning it won’t be on the local Realtors’ websites.
  12. The Buyers knows they are using a discount broker and is saving 3% commission. The Buyer will want that 3% commission. They will actually assume it. Thus, offers will come in 3% less than normal.
  13. Buyers have no sense of urgency with discount brokers.
  14. There is no go between. Only a fool sells his own home.
  15. The Seller has no other inventory to flip them.
  16. The Seller is out of their element in negotiating a transaction. I look at 4-5 contracts a week and have done that for 15 years. How can a Seller doing this on a one-time basis possibly understand the contract and pick up on all the nuances in the negotiation doing it for the first time? It takes years to hone this skill. Even licensed Realtors from different states typically use a Realtor because state laws are so different.
  17. No one will be pushing the property in the field.
  18. The seller is ripe for being taken advantage of. They won’t know if the title is normally charged by the buyer/seller, how to fill out contracts, what disclosures to give, etc.  The seller can’t know because they don’t do this every day. 1,000 errors will happen.

So much more…

Posted in Ask Jeff, real estate on November 24, 2015 at 4:50 am.

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