Wednesday, April 24, 2019
Discount brokerages are nothing new, they have been coming and going forever. I’m sharing this story as it has been happening to many other Realtors and clients alike.
So, you or someone you know are thinking of listing with “a discount brokerage” to save thousands of dollars in commission. The thing you don’t realize is in MOST cases, you will likely end up losing thousands… here’s what has happened to me and many others, and this is just one of the flaws of SOME of the systems…
9:14pm I receive a text that a seller received an offer on a property I had showed between 6:30-7:30pm. I called back before 10pm after speaking to my clients, customer service told me they were closed(most realtors work all hours of the day and night and this particular discount brokerage even advertises 24/7 service, like myself and most Realtors provide) replied “don’t worry you will have time to submit an offer as well because we wouldn’t accept an offer with a short irrevocable”.
Left my name & # for them to call me at 8am. 8am came and no call. Ready to submit & had some questions and The “agent” handling the file said they accepted an offer before 8pm the night before! An hour and 14 mins before I was even told of an offer… I had told them we were interested in submitting an offer when I responded to the feedback request prior to that time, yet they ignored it or didnt read it (cough, system flaw) and went with the one offer. We could have paid much more than the asking price,
Again, this exact scenario has played out now a few times with a few other Realtors I know. In some cases the buyers were willing to go 30k or more over the asking price.
The Sellers will never know the money they lost out on. Some key points to remember:
1- These companies get paid before anything happens and whether your home sells or not where as Realtors only get paid after the sale.
2- Most of these companies you will never meet anyone face to face. After they get paid, do you think they are really looking out for your best interest?
3- After receiving any offer, a Realtor will contact each and everyone that ever viewed the home, scheduled to view the home, or even expressed interest, in order to see if anyone else might want to also submit an offer. This gives you the seller the best chance for multiple offers and maximum price.
Again, I’ve been dealing with discount brokerages for over 13 years and have seen them come and go….I know what I’m dealing with when I’m working with them, do you?
Born and raised in the Ottawa area, with years of experience in the Real Estate industry, I have the tools needed to get you started on your next move. Be it buying or selling, I am confident that from your first home, to your dream home, I can help make your dreams become a Reality................ Read More