Commission Matching Service, for your peace of mind!
Real estate commission questions have been at the forefront for most Sellers over the years.
- Are commissions set by the brokerage or the local Board?
- Are commissions negotiable?
- What are the competitive commissions in my area?
- Can I renegotiate my commission during the listing?
- If only one realtor involved in the transaction, do I get a commission break?
- What is a “fair” commission in this real estate market?
All of the above questions are very valid and it is very important that they are fully answered, specially for a first time Seller.
Let’s begin with this. Never decide on your choice of the realtor that will handle one of your potentially biggest investments simply based on commission offered! Very important that you keep this in mind. Would you go to a dentist that charges $10 for service normally costing $250? I’m sure you would ask yourself that question, just as you should!
To answer some of the questions mentioned earlier let’s just make one thing clear. Commissions are not set by the local Board or the brokerage itself. That would be illegal! All commissions are negotiable and should be discussed right up front. Commissions are clearly stated in the Listing Agreement and also clearly show what the Co-operating realtor will be paid. Make sure any “side agreements” such as reduction of commission if the sale involves only the listing agent are clearly put in writing. No verbal promises should be acceptable.
Typically, commission is not negotiable during the listing period, especially during an offer presentation.
Darius will match any commission offered to you by any other realtor or brokerage but what would be a “fair” commission on the sale of your home? What would you be comfortable with? The lower the better is what I sometimes get but honestly, what would be fair? There are already many, many options out there. Anything from going it alone, to hiring a listing company or flat fee service, to hiring a full time realtor working for a large brokerage. Please remember that commissions are always negotiable, even if going it alone (you’ll get plenty of realtors calling).
Let’s look at just 3 potential scenarios, let’s just call it your 3 options.
Hiring a full time realtor might be your option #1.
As licensed realtors, we go thru very specialized training and are bound by Code of Ethics and a lot of legislation I don’t want to bore you with here. But we are “professionals” or we should be! More on that in my blog posts…
Hiring a realtor means paying commission but that comes with many benefits often overlooked. Outside of professional representation and market knowledge, you also get many benefits often not seen, such as an appointment desk handling all inquiries, appointments, scheduling, call backs etc. You also know that all appointments go thru professionals and your privacy and security is protected. And then there is the marketing aspect, anything from professional photo or video tours, to flyers, online media, social media etc. Sound good so far?
So, what would that really be worth to you? Bottom line for all Sellers is to get the deal done in a clean, short, professional manner with minimal disruption to your every day life! We can do it. And commissions are always negotiable, well, with most of us!
To offer you peace of mind, I decided to offer you, the Seller, my Commission Matching Service. I will match any reasonable commission structure offered to you by any other realtor or service. All commission packages, including flat fee services, will be considered. I am a seasoned realtor, over 20 years experience in selling and buying, and I work for the largest independent brokerage in Canada. We have the clientele, we have the market share, we have the “back end” to make it all work great for you! I make this available to you as part of my Total Real Estate Service. You can read more on that here
Please feel free to contact me with any needs. Contact info can be found here or simply go back to the top of the page.
Hiring a Flat fee service could be option #2.
There is a number of companies in the marketplace that offer multiple flat fee packages for your consideration. Some will just charge a fee to prepare and put up your listing. That’s where their service ends. You pay their fee up front and if the property doesn’t sell, oh well… You do the marketing, you book the appointments, you show the property, you negotiate, you wonder and worry if what you are being told is legal and legitimate. You may still end up paying a commission to any realtor that may bring you an offer! And again, that too is negotiable!
One of the better companies I can think of actually offers multiple plans that you also pay up front. From simple listing at $X, to listing and realtor assistance in negotiations for $XPLUS. You also do your own marketing, showings etc. And, you may also need to pay some commission to a realtor if you get an offer from one. But at least with these packages you have some options and can always pay more to have a realtor more involved.
Don’t settle for the cheapest option here, there is a huge difference between the quality these companies offer, anything from better description of the property to quality of photos that may appear on the web.
One more point. In both Option #2 and #3, you can always hire a lawyer to negotiate the deal on your behalf. Yes, there may be some potentially serious costs involved there but at least you’re not alone!
As in the description in Option #1, I do offer Commission Matching Service. Flat fee services are also a form of commission and in most cases those fees are payable whether you successfully sell or not. I only get paid when the deal is done, not before! My services are geared to any compensation structure and I can match most, if not all of them. That’s why I offer the Commission Matching Service. And offer 20+ years of experience.
Contact me here and let’s see if we can work together.
Going it alone may be your option #3
Is it the best option for you? Will you successfully sell your property?
In all honesty, in a busy market you have a good chance of selling. Statistics show however that quite often you will sell below what you would sell for with a realtor. No, there is no commission if you complete the entire process and no realtor is involved but you may have no experience pricing your home, you may have no experience negotiating the deal and unfortunately, much of your privacy and security is left wide open. Basically, do you really know who is showing up at your door to view your property?
On top of that all marketing, all booking appointments, showing, negotiating etc is all on you. If you want to take that on, it is an option. Is it a good one? Only you can answer that!