BREAKING NEWS
HOME BUYERS
Do you know that you have the ability to decide how much to pay a real estate agent? In the past Sellers, preset the amount without your input. Learn the options so you don't add $10,000 or more unnecessarily to your mortgage.
(see December 2024 article under Real Estate Buyers)
MORTGAGE RATES
The Federal Reserve cut the funds rate by a full percent in 2024. So why haven’t rates seen the same benefit
(See December 2024 article under Advocate Mortgage Information)
Keith L. Eliou, Esq., CFP, RIA, MBA
- Financial & Retirement Planning
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This is among the most common reasons we are given for why a seller picks a particular agent. Consider this, if the person is such a good friend, then what discount are you getting from the tens of thousands of dollars that you are about to spend? Are they charging you the same rate as non-friends? Our advice, if they are good friends, pick a less expensive option and get all of the services that you need, and then you can take the thousands and thousands you save and pay for part of one of their kid’s weddings (obviously we are making a point here).
Before you commit to paying tens of thousands of dollars to sell your home with the traditional commission-based model, consider options. This isn’t brain surgery. This isn’t rocket science. Look for the low hanging fruit. You can always stop and then hire an agent who charges the full traditional commission.
By investing a few hours in research (or paying for a one hour consultation with us), you can uncover lots of options that will provide you will the services that you want and save thousands in the process. Probably having a better overall experience by engaging experts in the areas involved rather than working through a generalist, real estate agent, of unknown in-depth qualifications.
You agree to pay a 5% commission on a $500,000 home or $25,000 dollars.
The agent lists the house on Sunday and it sells by Saturday, at or close to the full asking price (maybe even by the same agent or an agent in the same company, which is a whole other issue).
Versus
Versus
4. One step further, you could next advertise your home in the local MULTIPLE LISTING SERVICE, for a FLAT FEE of $300-$400 dollars. Yep, it’s the same MLS that the agent would use