How homes get sold and how they get sold for the highest
possible price
By Larry Stoller
Here’s how homes get sold in a traditional real estate
business transaction:
The home gets listed by a real estate brokerage wherein the Seller pays a total commission to that brokerage to list, market and sell that home.
The total commission, which is negotiable,is a percentage of the sale price and the breakdown of that commission is usually½ to the listing brokerage and ½ to the selling brokerage (the buyer’s agent).
The listing brokerage lists that home in their local Multiple Listing Service (MLS) and indicates what percentage of the total commission (called the coop commission) that will be paid to the brokerage that brings in the Buyer.
Once listed in the local area MLS, that listing is then syndicated to Zillow, Realtor.com, Trulia and hundreds and thousands of other real estate websites for buyers to see when they search for their dream homes.
With more than 2,100 real estate agents in our local area MLS, more than 90% of the time, it’s the buyer’s agent who brings in the buyer (makes sense by the numbers and more so since the listing agent represents the seller).
The buyer’s agent submits the offer to the listing agent, who submits the offer to their sellers, who decide to “accept, reject or counter” and back and forth until buyers and sellers agree to all terms of the contract.
So when selling your home, how do you know which company/agent
will sell your home fast and for the highest possible price? The answer is, “since the Internet gives the
same advantages to all real estate companies, whether big or small, choose the
agent who best knows how to price and market your home so that it will sell at
the highest possible price.
Here’s what to look for when choosing your listing agent:
Does the listing agent have a proven track record in selling local area homes?
Does the listing agent utilize “enhanced marketing methods in addition to traditional real estate marketing?
Does the listing agent add value to your home by adding “updates, upgrades and special features” in the MLS?
Does the listing agent add value to your home by adding “compelling captions to property photos” in the MLS?
Does the listing agent also utilize “exclusive property websites” that effectively market your home 24/7?
Does the listing agent have “excellent negotiating skills and incentives” that will give you the competitive edge?
Please email me with any questions and/or visit our website
below.
Larry Stoller is a local Broker-Owner and Realtor of Real Estate
FIVE of the Low Country. Visit www.Realestatefive.com,
larry@realestatefive.com.