August 21, 2012 |
Recently, a one acre property with a pool situated high the East Hill of Tenafly on 100 Devriese Court sold for the price of $2,400,000.
The sellers of this property decided to put the “marketing” of their Tenafly property in the hands of a listing service that normally charges a flat fee of $599 for 6 months and the showings of the property are done by the home owners themselves.
To attract buyers agents to the property the sellers offered the agent who will bring the buyer a commission of 2.5% .
Where Tenafly and other Bergen County properties of of such value normally list for 4%-5% total commission, the sellers of this property wanted to save the listing/marketing agent’s portion of 2%-2.5%.
On the sale of their home for $2,400,000 this translates to $48,000 to $60,000 and, while this seems like a lot of money to save the real questions to ask are;
- Had the sellers listed their house with a strong full service local Realtor, would they have been able to get $100,000 …$300,000 dollars more than what they actually sold for?
- Had the sellers listed their house with a strong full service local Realtor would they have been able to sell this property in less than the 20 months it took to sell?
This blog strongly maintains that the answers to both questions are a resounding “yes”.
Many sellers feel that all realtors do exactly the same, practice shows that certain Realtors outsell others by huge margins, out negotiate others by huge amounts and, hold & close deals that otherwise do not get to close to a closing table.
While technology has made many aspects of the business easier to manage and, has given Realtors more tools, the “human factor” is still paramount and working with a top professional Realtor is absolutely irreplaceable when it comes to listing your home and negotiating the best deal in the shortest time.