Real Estate Trade Secret That can save Thousands$$$$

The market is Red HOT for >$1,200,000 homes. Real Estate commissions  take a big bite out of any sale. Usually 5 - 6%, these are split between the selling and buying agent. While one can agree that the buyer's agent is important in bringing potential buyers to your property, we have to wonder what value the listing agent provides in many sales.  The Holy Grail of Real Estate is the "listing".  Gaining the listing, the agent is assured of a big payday as all the other agents are working for them to sell your property.. You can turn that dynamic around eliminating and pocketing the 3% "cost" of the listing agent by using a hybrid between Sell by Owner & Listing with an Agency, while having all those other agents work for you in bringing potential buyers.

Now what services does the listing agent provide for their 3%?

a.  Market valuation.  10 Minutes on the internet will give you a market valuation.

b.  Professional photo's.  A MUST but they cost no more than $199 and easy to source on the net.

c.  MLS (Multiple Listing Service) used by all agents and listing on sites like Tribune, Trulia and Zillow. Easily done by working with a company like Presman Real Estate in Northbrook.  For $299 they will list it on the MLS and all other sites and will help you through the process and even interact with buyer’s agent as well as provide you a professional for sale sign.

d. Negotiation of offers.  OK, how is this difficult and you can always use your real estate attorneys.  An excellent one that will even responds on Sundays is Angelina, Herrick & Wifler PC  of Libertyville/Rolling Meadows.  

e.  Paperwork.  Ha, ha..these are pre-printed forms that anyone can fill out and again see (d) above.

f.  Marketing.  Your photos and listing is the most important in this internet age where the buyer is likely to "find" the houses they want an agent to show them.


Some tips:

1.  Order a lock box for the front door from Amazon, $49.  Allows for easy showing and key if you are not around.

2.  Keep the house in viewing shape, clean and remove any unneeded junk to make more visible room.  If some painting is needed or new carpets and a few small fix-ups, complete these prior to photo session.

3.  When a viewing is scheduled, you can use your phone number or Presman Real Estate for the contact.  Leave!  You should not be in the house during showing, just let the buyer’s agent do their thing and you will get agents comments after the showing from Presman.  Most "listing" agents would not be at a showing.

Finally, you need to provide a full 3% commission to the Buyers agent and have it in the Agent only comments of the listing along with Lawyer on Board. You want to give an incentive for as many showings as possible and let the buyer’s agent know this is not a difficult transaction where they have to do double the work.

Warning, some agents will tell you they "back ball" these types of listing or that it is much more difficult to sell.  Ridiculous, read into that...they have no active buyers to purchase your home.  You will have plenty of showings and opportunities to sell.  Even more ridiculous is when they say you will get a higher price from a listing agent because of their marketing et al.  Blah, Blah, Blah.  Of course they do not want you to know this “trade secret”.


Use your own judgment and comfort level to determine if this process might work for you. (Sales of multi-million Dollar properties or unusual properties needing valuation and Hi end marketing excluded from recommending DIY).