TYPICAL SERVICES AND OPTIONAL SERVICES OF AGENTSTYPICAL SERVICES
AN EXPERIENCED AGENT, IN OUR OPINION, SHOULD BE ABLE TO TELL YOU AS A SELLER THE TYPES OF SERVICES AND THE AMOUNT OF TIME FOR THOSE SERVICES, THAT THEY WILL PROVIDE.
KEEP IN MIND THAT ONCE YOUR HOUSE IS ADVERTISED IN THE MLS, ANY AGENT FROM ANY MEMBER COMPANY CAN SELL YOUR HOUSE. YOU WANT MAXIMUM EXPOSURE TO THE MARKET, NOT JUST BUYERS LOOKING IN THE NEWSPAPER AND NOT JUST EXPOSURE TO THE AGENTS OF THE OFFICE THAT LISTS YOUR HOUSE!
ALSO, BEWARE OF TALKING IN TERMS OR PERCENTAGES, THEY OFTEN SEEM SMALL WHEN FORGETTING THE NUMBER OF DOLLARS THEY REPRESENT.
YOU MAY WANT TO ADD UP THE NUMBER OF HOURS ANTICIPATED AND DIVIDE THAT BY THE COMMISSION QUOTED TO FIND YOUR HOURLY RATE. FOR EXAMPLE, IF THE POTENTIAL LISTING AGENT OFFERS A 6% COMMISSION ON A $250,000 SALE PRICE, THE LISTING COMPANY USUALLY IS PAID 3% OF THE 6% TOTAL. THAT IS $7500.00, IF THEY CAN JUSTIFY 40 HOURS OF ACTUAL TIME THAT $187.50 PER HOUR FOR LISTING SERVICES.
HERE OUR SOME OF THE SERVICES(NOT NECESSARILY ALL OF THE SERVICES) THAT YOU MIGHT EXPECT TO SEE IN A FULL SERVICE LISTING:
- THE LISTING PRESENTATION, BEFORE YOU HIRE AN AGENT, 2 HOURS OF PREPARATION TIME AND 3 HOURS FOR THE PRESENTATION;
- ONCE YOU HIRE AN AGENT, COMPLETION OF THE MLS FORMS AND INTERNAL ADMINISTRATION FOR PAPERWORK SUBMISSION, 5 HOURS;
- SHOWING YOUR HOME TO BUYERS OF OTHER REAL ESTATE COMPANIES……0! THE POINT HERE IS THAT YOU SHOULDN’T COUNT THE TIME THAT THEY SHOW YOUR HOUSE TO BUYERS SINCE THEY WILL GET PAID THE SELLING AGENT COMMISSION FOR THAT SERVICE, NOT JUST THE LISTING COMMISSION. IF ANOTHER AGENT HAS A BUYER THEY WILL SHOW YOUR HOUSE AND THEY WILL GET THE SELLING AGENT COMMISSION;
- IF YOU WANT THEM TO SHOW YOUR HOUSE INSTEAD OF HAVING A “LOCKBOX” OR HAVING THE APPOINTMENTS SET THROUGH YOU, THEN YOU WOULD HAVE TO CALCULATE THAT TIME IN YOUR EQUATION;
- OPEN HOUSES.GIVE THEM CREDIT FOR 5 HOURS FOR ONE OPEN HOUSE ( 3 HOURS THERE AND 2 HOURS OF PREPARATION TIME.) YOU MAY WANT TO CONSIDER THAT MANY NEIGHBORS AND PEOPLE LOOKING FOR DECORATING IDEAS MAY BE THE ONES THAT ATTEND THESE. SOME AGENTS HOLD THESE IN THE HOPE THAT THEY WILL “PICK UP” BUYERS AS CLIENTS WE’VE FOUND IN MOST CASES SERIOUS BUYERS HAVE AN AGENDA IN TERMS OF TIME AND SPECIFICATIONS AND RESEARCH HOUSES THROUGH REALTOR.COM, AGENTS OR CALLS TO SELLERS WHO ARE SELLING ON THEIR OWN AND THEN THEY MAKE APPOINTMENTS AND DON’T WANDER AIMLESSLY INTO OPEN HOUSES;
- TAKING CALLS FROM OTHER REALTORS WITH QUESTIONS ABOUT YOUR HOUSE. GIVE THEM CREDIT FOR 2 HOURS SINCE THIS DOES HAPPEN EVEN THOUGH MOST OF THE SPECIFICATIONS ARE IN THE MLS DATA BASE;
- NEGOTIATING CONTRACTS. THE MORE THEY NEGOTIATE THE MORE TIME OBVIOUSLY. FOR EACH CONTRACT GIVE THEM CREDIT FOR 3 HOURS. ONCE SUCCESSFUL, THERE IS USEFUL FOLLOW UP TO MAKE CERTAIN THE HOME INSPECTION IS COMPLETED, A MORTGAGE IS APPLIED FOR AND THE CLOSING COMPANY IS COORDINATED. OUR ESTIMATE IS THAT,ALL OF THIS COULD BE DONE BY YOU WITH AN HOUR OR TWO OF HELP. GIVE THEM CREDIT FOR 7-8.
- ATTENDANCE OF CLOSING. USUALLY, THIS CAN BE DONE WITHOUT THE AGENTS HELP BUT IF THEY ATTEND AND IF THEY HELP WITH THINGS LIKE A DYE TEST GIVE THEM CREDIT FOR 4 HOURS.
IF YOU ADD UP THE ABOVE YOU WILL FIND THE TOTAL NUMBER OF HOURS SOMEWHERE BETWEEN 30 AND 40 FOR A FULL SERVICE LISTING. WE HAVE HAD EXPERIENCE IN HELPING SELLERS DO MANY OF THE ABOVE TASKS ON THEIR OWN AND USING 10-15 HOURS OR LESS. THIS CAN SAVE THOUSANDS OF DOLLARS!
IF YOU ARE SERIOUS ABOUT SELLING YOUR HOUSE, WE BELIEVE THAT HOURLY RATES REDUCE SELLERS COSTS AND GIVE SELLERS MORE OPTIONS OF THINGS LIKE BEING ABLE TO USE THEIR OWN ATTORNEY TO NEGOTIATE AN AGREEMENT( ATTORNEY RATES FOR THAT SERVICE ARE VERY AFFORDABLE IN PITTSBURGH AND YOU GET THE BENEFIT OF USUALLY UNBIASED ZEALOUS REPRESENTATION ON YOUR BEHALF). WITH COMMISSIONS YOU PROBABLY WILL PAY MORE BUT OF COURSE, IF YOU DON’T SELL THEN YOU DON’T PAY[BUT THEN WHY ARE YOU LISTING YOUR HOUSE]. OPTIONAL SERVICES
TELEVISION. A FEW COMPANIES PROMOTE THEIR TELEVISION SHOW. IT MAY TAKE WEEKS TO GET A VERY SHORT SPOT. HOW MANY TIMES HAVE YOU WATCHED SUCH A SHOW? SOMETIMES THERE IS A COST TO THE SELLER. IF YOU REALLY WANT THIS, THERE IS A CABLE STATION AVAILABLE
OPEN HOUSES. WE HAVE FOUND VERY VERY FEW HOUSES TO SELL DUE TO AN OPEN HOUSE. IF YOUR HOUSE IS LISTED IN THE MLS AND AN AGENT HAS A CLIENT LOOKING FOR YOUR TYPE OF PROPERTY, THE ODDS ARE THAT THEY WILL SHOW YOUR HOUSE.
ADS IN NEWSPAPER. TYPICAL COSTS FOR THIS ARE $40-50 DOLLARS. SOME COMPANIES MAY GET REDUCED RATES FOR SUCH ADS, HOW MANY THEY WILL DO SHOULD BE EXAMINED.
REALTOR TOUR. WHEN YOUR HOUSE IS NEWLY PLACED ON THE MARKET, THIS MAY BE OFFERED TO YOU. KEEP IN MIND A FEW THINGS, YOUR HOUSE IS OFTEN CONSIDERED “ PRODUCT” TO SELL AND MANY AGENTS MAY PREVIEW YOUR HOUSE TO KEEP ABREAST OF THE “INVENTORY”.
VIRTURAL TOURS. THESE CAN BE PURCHASED IF YOU FEEL THE MULTIPLE PHOTOS THAT CAN BE PLACED IN THE MLS DON’T GIVE ENOUGH DETAIL.
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