Friday, August 12, 2011

Consider Me Your Friend

So after a nice family party, I was sitting and thinking about my chosen profession.  It seems I always pick a career where there are some misconceptions about how the business works.  My family is always the very first people to ask ..... Is it true ? And it got me thinking I wonder how many other people have the same questions, but don't have a close family or friend with the experience to ask ! So take a moment consider me your close friend or family member to find out all the answers to those questions you may have been curious about ! 

Don't you get to make your own schedule. and take vacation whenever you want ! 

We don't get to go on vacations or spend our days lying around making a few calls here and there and walk away with an enormous paycheck.

We miss family functions, birthdays, parties so that we can take our buyers to see the home that they have fallen in love with and must must must see it this weekend !

This is our job, and we will never complain about it, we chose this life just like the doctor who must leave his home in the middle of the night for an emergency at the hospital, that is how important buyers can be.  We would never want our buyer to miss out on a home that could be their perfect home !

Why do brokers try and get me to sign a buyer brokers contract ? 

The simplest answer ..... protection ! Not only for ourselves but for our buyers as well, it lays out what our responsibilities are and lets other realtors know you have someone looking out for your best interest and protect you !

Here is some examples of what COULD happen.

Realtor A takes out buyers, shows 50 + homes.  They were all in the price range, area, and met his needs and what he wanted.
Buyers goes to an open house, after a recent meeting with Realtor but puts in an offer and purchases with the Realtor B who was holding the open house.

Buyer finds a beautiful home, falls in love and it is in a tax bracket that just fits into their budget.  They make an offer, and it is accepted ! When they apply for the mortgage they find the taxes are not what they thought, and are unable to get the house.  By having a committed Realtor, this will never happen because it is one of the very first things we confirm !

You get paid a ton of money when you sell a house, and it is so easy to sell one !

Keep this in mind some homes can sell in 30 days or they can take almost a year.  There is no way to predict how long a home will take  to sell, we can make an educated and aggressive marketing plan but there can always be factors that are not within our control.   And no matter what happens at the end of our day we must give your home 110% no matter how short of a period or long period of time your home takes to sell.

We don't always get paid a huge paycheck at the end of the day, so here is a quick and honest breakdown on where it all goes.
Please keep in mind it is different for each company !! 

6% Commission

3% To Listing Agent                              3% To Selling Agent    
When you list your home be sure to ask how the commission is split, it will help push Buyers Brokers to push your home to clients.

Percentage To Listing Comp.                 Percentage To Selling Comp.
We aren't just using their space we have secretaries who make sure your paperwork is in order, receptionist who assist us in scheduling the showings for your home, they make those cute postcards that got sent to 200 of your neighbors !
Now you figure the websites we are advertising your home on, and the system we have so that we can tell you how many people saw it and how long they spent on your page, and to make sure they can reach us day or night to schedule an appointment to see it.
Possible desk fees, yes we don't get to use their ink, electric, internet, fax machines, copiers for free again each company is different.

Good old New York State, we don't have to pay them right away but we do still have to pay them !

Additional Marketing
Any good real estate agent will do more than basic marketing.  Professional pictures, additional print advertising, staging, signs, and time which again could be little or a lot to sell the home but the effort must be 110% no matter what.

Why do some agencies offer a discounted commission and not others ? 

Well if you hire a discounted realtor they may try to sell your home, but more than likely there will be some things they are unable to do because they do not have the resources to do it.

The broker who takes a 4% listing may try just as hard as one who takes it for 6%, but the additional marketing , time, and staging will do nothing but help the sale of your home !

The money that you are paying in all truth is not to just pay the Realtors, it is your marketing tool to sell your home ! 

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