As a real estate broker owner, I have to say that a discount broker will not serve your interests any better than a traditional real estate broker. I am an advocate of you, the real estate seller, selling your home without a real estate agent.
In today's real estate market, where most all of real estate buyers are looking for real estate on the Internet, and where most real estate brokers do not understand Internet marketing, it simply is in your best interest to sell your real estate without a real estate agent.
A discount real estate broker can give you the comfort of knowing that you are paying less in commission. However, you may be taking a lower sales price, and you are still paying another real estate agent that may bring a buyer. There was a news show a while back about one particular discount broker, that said that they charged a flat fee to list the home, but they charge more, if they find a buyer or if another real estate agent finds buyer. This really is not too different from traditional real estate.
Discount brokers prey on the fact that you are discouraged with traditional real estate agents and that you want to save money. With the economy, the way that it is, real estate brokers need new tactics to get your business. And hanging a sign out, putting up a website that suggests that they are a discount real estate broker is just the latest and greatest way to get you to list your real estate with them instead of your local real estate agent.
Also, some of the discount brokers brag about it buyer's rebate that they will give. So, if they find a buyer than you will pay them a separate commission on that. This will be paid, by you, on top of your flat fee, and then they will take some of this money and give it back to the buyer in the form of a rebate. This of course is only in the states that allow buyers rebates.
A buyer's rebate, given by a discount real estate broker, does not help you, the seller. I think what looks attractive to some sellers is that these discount brokers are not only cheaper than their local real estate office, but they brag about their Internet marketing skills and what they can offer you in the form of securing a buyer. The thing to consider here is the fact that you can find your own buyer, you can build your own website, and not only will you save in commission, but you may just get a higher purchase price.
And when you sell your home yourself and use a real estate attorney, you will make more money, and you will sleep well at night knowing that you did everything right.
Remember folks, real estate agents go to school, in my state anyways, one week, and they do not have a real background in real estate law. Some Realtors tried to tell you that, if you don't list with them than you'll have to hire an attorney and attorney will cost a lot of money. The truth about that is that you should hire an attorney either way. And this goes for discount brokers as well as traditional real estate brokers. You NEED to have a real estate attorney look over all of your real estate document transactions before you sign.
In conclusion, do not let your discouragement of the real estate industry and you past experience with real estate agents drive you to a discount real estate brokers. They really are the same game in a different disguise.
Crystal L. Cox is the Real Estate Broker Owner of Ten Lakes Realty specializing in marketing property - real estate on the Internet. She is an advocate for Consumer Protection in Real Estate. With the Power of the Internet, You Really do not need a Realtor to Sell your home for you. Sell your home yourself with Internet Marketing. http://www.FSBOInternetMarketing.com Crystal is an Internet Real Estate Marketing consultant and can help you get your real estate found on the Web.
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