Provided by The Platinum Group, REALTORS
As flat-fee or discount brokerages advertise considerable reductions in service fees, more and more people are curious about their services. As with anything, it’s important to know exactly what you are getting. Typically, lower fees mean reduced services.
Full-service Brokers are the conventional real estate professionals that most people are familiar with. As a listing agent, their job is to post the home for sale in the Multiple Listing Service (MLS), market the property, manage all paperwork (and emotions), provide the client with facts and sources to make educated decisions, negotiate, and ensure everything proceeds as scheduled and is completed in time for closing. Most importantly, full service brokers ensure the client’s best interests are protected.
Flat fee brokers are real estate agents that provide some basic services, ranging from entry only to some limited services and supervision, at a discount, or flat fee. Generally, this fee covers a Comparative Market Analysis for determining your listing price and registering the home in the Multiple Listing Service, pictures, flyers, a lockbox for buyer agent access, a real estate yard sign, and maybe some listing syndication to third-party websites (Realtor.com, Zillow, etc.).
When listing with a full service company, sellers pay a commission that is split between the listing agent and the buyer’s agent, typically a percentage of the overall sales price. Along with expertise, connections to other industry sources, and actively marketing the property, a full-service Realtor also provides the following:
-Advanced marketing services that improve visibility, like virtual tours, staging, and enhanced property listings on third-party websites
-Advising you on public projects that may affect the sale of your home
-Responding to all property inquiries from agents, buyers, and the general public
-Following up with the buyer’s agent to make sure financing is secured, and all inspections and appraisals are completed in a timely manner
-Coordinating the closing
-Reviewing the HUD settlement statement/Closing Disclosure forms
And, because buyers look at a house online 7-10 times before even scheduling an initial showing, professional photos, videos and staging are imperative. Once the buyers have scheduled a showing, it’s basically just a confirmation of their expectation.
While some flat fee Realtors are good at guiding their clients during the selling process, others, due to limited compensation, are very hands-off. If you aren’t knowledgeable about real estate, you could be putting yourself into a worse position when the transaction presents challenges.
Working with a full service broker ensures that you have the expertise of a professional with a fiduciary obligation to you. Realtors are contractually obligated to look out for your best interests, negotiate on your behalf and dedicated to making sure all contractual obligations are satisfied, before and even after the closing.
The Platinum Group, Realtors are ranked as the number one independent real estate firm in Colorado Springs. Their agents have an average of over 13 years of real estate experience, so you can be confident they’ll get you the best possible results for all your real estate needs. For a no-obligation consultation, call today: 719-536-4326 or visit PlatinumHomeSales.com.