For Sellers

james on March 15th, 2008

Selling Real Estate

Whether it be selling residential or commercial property, the primary objectives are to market and advertise the property to maximize its exposure and to price it appropriately for the current market. The main differentiator among agents is not who’s marketing plan is better, but it’s how thorough and how well that agent executes their duties. There is only one marketing plan and that’s to get the word out there that your house is for sale.

Everyone, including discount services, all claim to be full service agents. What I don’t often (or ever) see is how they define “full-service.” It could be only publishing the listing on the MLS and reviewing offers when/if they came in. Here is how I define “full-service” for my business:

  • Listing published in the Northwest Multiple Listing Service (NWMLS)
  • Professional sign and yard-arm post with flyer box
  • Full color flyers
  • Comprehensive pricing and market analysis
  • 1-hr photo session (examples)
  • Periodic status reports
  • Keybox
  • Online advertising on all major real estate search sites
  • On-site home review
  • Informational booklet on selling your home
  • Seller support for any questions, issues, etc.
  • Contract reviews, negotiations and counter-offers
  • Customer service for buyers and their agents
  • Transaction management to ensure a smooth closing
  • Online slide-show of your home (examples)
  • Individual page for your listing on my website that allows me to display as many photos as we have
  • Open Houses / Broker’s Opens
  • Print Advertising

Remember, the measure of a good agent is not what they do, it’s how thorough and how well they do it….AND how much it’s going to cost the seller.

Costs

I had originally written up a lengthy discussion on the costs to list a house, but I’m going to save it for a blog post. Here’s how the commission structure works for me. For the services listed above, I charge a total commission of 6% of the sale price of the home, paid upon closing of the sale. Half the commission goes to the buyer’s agent as is tradition.

How do I justify this cost? Listing homes is an extremely risky business. It is essentially an investment for me. I invest a tremendous amount of time, expertise and money to market, advertise and get your house sold. It is risky in that I don’t get paid until the house sells. I stand to lose everything if the seller decides he’s no longer going to sell and pulls the house off the market. There’s dozens of instances where that could happen. Therefore, high risk requires a high reward. That reward is my 3%.

However I do have an alternative option …one that could potentially save a seller thousands of dollars off the listing commission. I call it the sellSmart! plan. Unfortunately, because of my current business affiliations this alternative program is only available by referral or invitation. If this sounds interesting and you’d like to learn more, call or email me to get an invitation code. This is no joke. You shouldn’t list your house until you know all your options.

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