What you need to know when shopping for a realtor.
When you look at what the average single family home in Jupiter costs these days, you would think nothing about the industry gets less expensive year after year. But, in the case of real estate commissions, they have now fallen for 10 straight years. In 2010 they fell. In 2011 they fell. In 2012 they fell. In 2013 they fell. In 2014 they fell. In 2015 they fell. In 2016 they fell. In 2017 they fell. In 2018 they fell. And once again in 2019 they fell again. Odds are high they will fall again in 2020.
Back in 2009 about 77% of single family home sellers in Jupiter paid a total commission of 6%. Last year that number had fallen to about 25% and the biggest question is, why are so many still agreeing to pay a 6% commission. The usual answer is the seller did not take the time to interview and ask questions. To get educated, instead of sold.
When deciding upon a broker to team with, you should really focus on 3 main areas. Trust, customer service and value. You certainly need all three to ensure your experience is a pleasant one and you pay a fair price for the services you receive. It will also help ensure you sell your home for the highest possible price.
There are more realtors out there than ever before, which means there is a whole lot of inexperience. There are a lot of brokers who will try to convince you that if you do not pay a higher commission you will not get professional representation. Recently, Paradise Sharks interviewed with a seller who told us they wanted to pay 6% because another broker told them nobody would show their home if the co-broke commission was not 3%. We got the listing. On the first weekend, we had dozens of showings, multiple offers and closed on the home within 30 days. The client paid a total commission of 4.5%.
Ask to see what their last 6 listings looked like on line. Closely look at the pictures. Read the written description of the home. Did they draw your interest and make you want to learn more? If not, you might keep looking as well over 90% of buyers are shopping on the internet prior to calling a realtor. If your home is not properly presented online, the odds of getting top dollar go down significantly. Ask if you could speak to those clients and get their feedback of the selling experience with that broker. It’s easy to do and it can save you many thousands of dollars.
You want to make sure the broker’s customer service is excellent. Selling a home is truly a team effort and you want to make sure your teammate communicates effectively. Call them. If they do not answer, leave a message and see how long it takes them to return a call. You would be shocked at how many won’t get back to you expeditiously, if at all. What kind of updates can you expect during the listing period? Can they help you ensure the house shows its best both in professional photos as well as actual viewings by prospective buyers. Will they be present at showings? What do they do to obtain feedback? What will they do if you are not happy with their services? How will they communicate with you. Will they allow you to cancel any listing agreement if they are not meeting your expectations? Why not? If the house sells in the first week do you get a credit? If your broker handles both sides of the sale do you get a credit? Ask questions. Get educated, not sold.
Value is not about the lowest commission, as without quality marketing and representation you won’t get the highest sales price. When interviewing, ask if the broker has set any record sales prices for their clients and what they did to make that happen. Look for value. Fewer and fewer sellers agree to pay a 6% commission. Most brokers these days will accept a 5% commission. Many brokers can provide even lower prices. Everything is negotiable.
Most of all, make sure you trust the broker you decide to hire. If you can’t look them in the eye, believe what they are telling you, and get that warm and fuzzy feeling you might keep looking.
Paradise Sharks is a unique brokerage and loves to interview and make sure you make educated decisions. We have decades of experience, both in construction and sales. More importantly, we do not have middlemen costs like franchise fees and brokers splits and pass those savings back to our clients. Our “let’s set a record sales price” marketing programs are available at total commissions as low as 4%. Most of our buyers get significant credits at closing as our little way of saying thank you. If you are doing real estate anywhere in Palm Beach or Martin County Paradise Sharks would be honored to interview and have the opportunity to earn your trust, and your business. Complimentary consultations are easily scheduled at 561.308.0175 of firstname.lastname@example.org.