Listing Myths

6% is the Standard Commission


False


THERE ARE NO STANDARD COMMISSIONS! You as the owner can offer whatever commission you decide to offer on the Seller Agent side and Buyer Agent Side. To be on the MLS, you must offer something to the Buyer Agent Side, anything from $1 to X% is acceptable.


Large Agencies Sell Homes Faster


False


10 years ago, this statement may have been true, but today there is no Data that shows that Large agencies sell homes any faster than smaller agencies, or even faster than For Sale By Owners, all when on the MLS provide the exact same information to buyers.


Large Agencies Have More Buyers


False


Less than 5% of all homes sales were purchased through the company which listed the home. This is a misconception held over from before Real Estate hit the Internet.


If an agent tells you that they have buyers, simply invite them to bring you one and offer to pay them a buyer Agent Commission.


Real Estate Teams are More Productive Sellers


False


Real Estate teams are very common today. They are simply groups of realtors who work under a common “Associate” Broker within an office, they do not work in the traditional definition of a “TEAM” by working together to buy or sell homes.


Real Estate Agencies Will Not Show Discounted/Flat Fee Fistings


False


Buyer Agents don’t know if the listing side is discounted, the only commission information which is displayed in the listing is for the buyer agent, which is based on the commission you chose.


Discounted Commission Listings Receive Inferior Service


False


An MLS only listing provides Buyers the same information as a Licensed Seller Agent.


Discounted Commission Real Estate Offices Cannot Survive


False


The key to providing discounted services is to do two things, reduce overhead, and reduce costs, that’s how Walmart, Costco, and Sam’s Club do it. The reason large Real Estate Agencies need to charge you 6% is to pay their bills, not to give you better service.


Zillow and Other Sites are Home Buying Sites


False


Zillow is a marketing site, less than 5% of the viewers of homes on Zillow are qualified buyers, approximately 80% of the homes you see listed on Zillow were initiated by an MLS listing and were automatically pushed out to Zillow.

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