New Models of Real Estate Services Promising Tons of Savings. Is it for You?
Hearing big promises from new marketing campaigns on TV and curious about what they offer?
Here are some key points to consider, offered up by our Team so that you can be informed.
You may have seen a funny commercial or two talking about saving tons of money on your Real Estate transaction, they certainly are eye catching! In fact there are new companies coming to market promoting a do-it-yourself model.
Here are key areas you’ll want to explore if considering using one of these to sell your property:
· Do they ask for an up-front fee so if the property sells or does not, they are paid.
· What fees does the seller actually responsible to pay – usually the seller is responsible to pay the buyer agent’s fee at the standard rate in the area, there is always a fee to list on MLS, and there may be additional fees charged by the Brokerage or listing-only service. All are found in the fine print, read very carefully.
· Is the assigned Realtor local, be sure to check – all Realtors are listed on RECA.ca and you can see where they are licensed and in which categories. Is the Realtor assigned to a property a local expert or are they from a different market area completely?
· How much experience does the assigned Realtor have, how many transactions have they managed, sellers will want to know who they’ll be working with.
· What Real Estate Board will the property be listed on – for example, it’s possible that a Red Deer listing is only on the Calgary Board because that is the only Real Estate Board that the Brokerage belongs to and if the seller’s property is not located in that Board area, the property will have limited exposure in the local market.
· What is involved in do-it-yourself Real Estate – how will the seller know where their property should be priced, how will they manage items like staging, photography, accurate measurements, and their property marketing campaign. How wide is the seller’s network to spread the word, and does that network included knowing professionals who work with qualified buyers as clients. How will viewings be managed, will anyone who calls be allowed in without pre-qualification and how will the seller know. How will they know they negotiated a fair market sale price with conditions and terms that are fair. How will they manage property inspection results, further negotiations, material latent defects. This is a very complex Real Estate Market and sellers are bound by the law in several key areas, there is a real risk related to liabilities in Real Estate transactions.
· After the property is sold there is a transition period that is important for the seller, how are they supported during that period up to and including possession day when things can happen that need to be addressed.
It’s important that you are completely informed before making your decisions, this message is not meant to sway you from one or another choice, but rather to help you to decipher the different models that are emerging and whether they’re right for you, to help you to ask the right questions.
We’re happy to answer any questions you may have about this, or about our services specifically, give us a shout any time! If you love to search for properties unbothered, please feel free to use our website, www.frereteam.ca any time!