As a real estate professional of over 16 years it still astonishes me how much of my time is spent on educating the public on the pitfalls of choosing not to use a trained professional to perform the most important financial transaction of their lives! Don’t get me wrong, it is my passion to teach valuable lessons. Yet there are countless examples of how a seller’s pursuit of not paying the “dreaded commission” to a licensed, trained and experienced professional service provider has resulted in more cost, wasted time, needless drama and less satisfaction! In this post, I’ll explore what is referred to as the “Limited Service” listing.
If the name “Limited Service” doesn’t give it away, then surely the experience of a seller who choses this method of property marketing will. Limited service listings are usually facilitated by real estate licensees who lack the skill and customer service acumen required to operate successful businesses in the highly competitive and dynamic world of residential real estate. They promise a “reduced commission” in exchange for placing the property owners’ home on the Multiple Listing Service. It is often the case that the “Limited Service” listing agent doesn’t perform any of the most valuable duties that a trained and experienced professional would provide, starting with the needs analysis and marketing and pricing strategies. If you don’t think that these things are important, just ask the property owners who have had their homes on the market for months with little traffic, no offers and a perplexed feeling of why. Surely there is a need or desire to sell the property, just no understanding of the goals and no plan to achieve those goals. Second, if and when an offer comes in, the property owner is on their own when it comes to negotiating price and terms, a skill not possessed by the majority of the human race. Realtors who are trained in the art of negotiation, the psychology of a buyer and the customary “rules of engagement” will undoubtedly make their seller more money, in less time and perhaps most importantly, facilitate a successful conclusion to a transaction that creates a WIN/WIN for all parties involved. Lastly, the professional agent helps keep emotions out of the transaction and keeps all parties focused on the outcome, not the issues. Sellers who are motivated to sell and get on with their lives and goals for their future would be minded to interview at least 3 licensed agents before making their choice.
If you are interested in learning more ways to make your transaction more financially and emotionally rewarding and less dramatic call a real estate professional. You deserve the very best.