When selling property most people rely on a Real Estate broker to help them navigate the sale. Like most people, people who are buying or selling real estate are money conscious, which may lead you to hire the services of discount Real Estate brokers rather than more established and traditional real estate brokers in order to save money. However, when it comes to hiring a real estate broker you really do get what you pay for.
The Draw of Discount Real Estate Brokers
The main reasons why someone hires a discount real estate broker over a more traditional one is because discount real estate brokers normally charge ½ the amount for a listing fee than traditional brokers do. However, with that lower listing price you are also likely to get poorer service by discount brokers who lack the experience and expertise of more traditional real estate brokers.
You also need to keep in mind that while the listing price may be less than traditional real estate brokers all other closing cost will be the same whether you use a discount brokerage or a traditional one.
Here are just a few reasons why traditional real estate brokers are well worth their fee.
• More Services- When you hire a discount real estate broker you will likely get the basic services that are offered. With a more traditional real estate broker you will get more and higher quality services. Traditional real estate brokers will go out of their way to maximize the exposure for you listing. These services can include videoograply, drone shots, catered brokers opens, public brokers opens, the agent will be the one showing the house and screening buyers. You are also likely to have your property professionally photographed and your property is better described.
• More Personalized Services- Discount real estate brokers have to make up for those lower listing rates somehow and they usually make up the difference by taking on more listing and dealing with more clients. Since traditional real estate brokers normally take on fewer clients at any given time they can provide you with more personalized service that allows them to be more responsive to their needs.
• More Experienced Broker- Discount real estate brokers tend to hire newer agents. These brokers lack the experience and expertise of more traditional brokers, since traditional brokers have been working in the field longer, they have more experience and expertise. They have negotiated more contracts, are more familiar with the neighborhoods and have earned a good reputation. They even get higher sales price for your property as they are more invested in the transaction and listing.
In the end, you need to make the decision whether you want to hire a discount broker or a more traditional one. However, you need to keep in mind, which broker is more likely to get your home sold within a reasonable amount of time and whether in paying a lower commission will really be the best deal once the property is sold and the final calculations come in.
Keep in mind that you get what you pay for when it comes any purchase in life. You wouldn’t stay at a 1 star hotel when you are expecting 5 star service!