Have You Seen Any Of These Gimmicks?

 

“Your home sold in XX days or we’ll sell it for free!”

 

These listings typically force you to price your home below market price, yet charge 6-7% commission.  The listing periods are often about 30 days longer than the guaranteed deadline (i.e. the listing agent only has 30 days of exposure to be required to sell it for free).

 

“Your home sold in XX days or we’ll buy it!”

 

These listings typically charge 6-7% and force you to price your home below market with scheduled price reductions between the list date and the guaranteed sale date. The Realtor buy out price is typically 80-85% of market price since the agent will deduct 6-7% commission, three months holding costs, repair costs, closing costs to acquire, closing costs when they sell it, etc.  If you’re considering one of these Realtors, ask them to provide a closing statement from the last house they actually purchased from a seller.  Most of these listing agents use this as a method to get a foot in your door.

 

“Up to $XX bonus when buying and/or selling through us.”

 

These bonus programs are based on the sale price of the house you sell or buy and are generally about 2% of the sale price.  The listing commission (typically 6-7%) funds a type of investment vehicle that pays you a bonus three years after the closing date IF you have completed all the rebate paperwork in the allotted 5-7 days.  Much like rebate programs on appliances, all your “T’s” must be crossed and “I’s” dotted perfectly.   We offered this to our clients previously, but they indicated they would simply prefer a discount today.

 

WE DON'T USE GIMMICKS!