The word “discount” always gets attention especially if someone is trying to buy or sell a house. However, real estate is exactly the situation where you should look before you leap into a discounted deal. Real estate agents marketing themselves as discount representatives can be a bit lacking in their services.
To begin with, you may have to do your own advertising. In addition, you’ll have to pay a fee up-front which might get your home put on an MLS site. These sites have a very limited viewing audience due to listing regulations. But that just may be all of the marketing you’ll get.
A lot of companies stay away from MLS sites because if another agent becomes involved, there’s a shared commission. This keeps away lots of potential buyers from your home. Other discount real estate companies will stick a sign up in your yard, advertise in the paper, and deal with contract negotiations. These companies vary greatly from each other so you need to research them first.
If you go with a traditional real estate agent, you don’t have to pay any money upfront. While you do have to sign a contract with them, it just motivates them even more to sell your house because they make no money unless they do. They’ll pull out all the stops to get your house noticed, seen and sold.
Their marketing strategy is a bit different from that of the discount real estate agents. They’ll advertise your house all over the place with no holds barred. You may also be asked to do such things as hold an open house so people can just drop in to see the house. You’ll also receive guidance on the best way to stage your house for showing.
Yes, a traditional agent does make a commission on selling your house but look at all the work they do for you. When you go with a discount agent, you end up doing most, or all of the work except for listing your house on a website or two. However, this doesn’t mean that all discount agents are alike. You may get lucky and find a good one to work with.