Jupiter real estate commissions fall for 7th straight year
Everyone knows that real estate commissions are negotiable, as is the level of services provided by any brokerage for these fees. It is one reason why Paradise Sharks tells anyone who is even considering the sale of a home to interview at least 3 real estate brokers and ask lots of questions. No doubt one of those questions should be how much are you going to charge me. The next question is what are you going to do for that money. Very important.
For 7 straight years the percentage of single family home sellers in Jupiter that pay less than 6% in commissions has grown steadily. Each and every year, from a low of about 23% in 2009 to 59% in 2016. Yes, it is true the trend has been towards paying less commission for the sale of a single family home in Jupiter. Well over half of all single family home sellers in Jupiter who sold their home through the real estate community in 2016 paid less than 6%.
Competition is part of this equation but the reality is the industry is changing and more brokers are gearing their services to the individual needs of each client. They are thinking outside of the box and learning how to add value to the real estate transaction. Rising prices also are part of the equation and make if more acceptable for a brokerage to negotiate better commissions. For example, the median priced single family home in Jupiter during 2009 sat at $322,750. If the seller of a median priced home paid a 6% commission that year their total fee would have been $19,365. In 2016, the median sale price of a single family home in Jupiter sits at $450,000. If a home seller of that home negotiated a 5% total commission for that home they would pay $22,500 in total fees. Smaller percentage, bigger fee on the same median priced home in the same town.
Sellers need real estate brokers who know how to market their homes and it doesn’t have to be the most expensive broker who is doing the best job. Forget the smoke and mirrors and understand that 90% of all home buyers shop on line for their new home before calling a broker. You must have your home looking like, and sounding like, something the on-line shopper wants to learn more about. If it does not, it really does not matter how much you pay for commission as the odds of getting the best price drop precipitously.
Look at how this town home Paradise Sharks recently marketed was presented and understand that we had this home under contract within about a week and sold if for the highest price on a town home in that neighborhood in well over 10 years.
The reality is it wasn’t even close. In fact, during that ten year period 168 town homes had sold in the neighborhood and the highest closing price was $351,500. We sold this for $370,000 as the marketing we put together created interest, multiple offers and allowed us to set this record. And Paradise Sharks carried out this record breaking performance for far less than 6%. In fact we did if for less than 5%.
Remember, when it comes to selling your home interview at least 3 brokers. Paradise Sharks is a boutique real estate firm dedicated to high quality, killer marketing and true value. With no franchise fees, or brokerage splits, we take the middleman out of the real estate transaction and never charge our clients over 5%. It is always super easy to reach us at 561.308.0175 or firstname.lastname@example.org.