What is a Jack-of-All-Trades? This is an agent that lists properties then starts working with buyers. Sounds good? Not really. Here is the clincher. If your listing agent is working with buyers, who is marketing your property?
One of the greatest myths in real estate is the Listing Agent will show and SELL your property. This is totally FALSE. The fact is agents that specialize in working with buyers show and sell properties not the listing agent. That is why you never see your listing agent showing your home.
Agents that claim to 'do it all' are misleading their homeowners. According to the National Association of Realtors the biggest complaint homeowners have about their listing agent is the agent listed the property and never heard from the agent again. That's because they are too busy working with buyers and not working on marketing your property to get it sold.
What most people do not understand is there are two agents in a traditional real estate transaction. The listing agent will list the property for 6-7% commission and share the commission at closing with the buyer's agent (if there is an agent involved in the transaction). If there is no buyer's agent involved in the transaction then the listing agent gets paid the 6-7% commission at closing.
For example on a $200,000 home the commission at 7% is $14,000. If there is a buyer's broker involved in the transaction the listing broker will share the $14,000 at closing. The buyer's agent will received $7,000 and the listing agent will receive $7,000. If there is no buyer's agent involved in the transaction the listing broker gets the whole 7% or $14,000.
What if the homeowner shows the property to the buyer and they are listed with a traditional real estate agent? If the listing is taken at 7% the homeowner must pay the listing agent 7% at closing whether the agent showed the property to the buyer or not. How would you feel if you did all the work and still had to pay $14,000 to the listing agent who did nothing more than list the home in the MLS (Multiple Listing Service)?
With our on-line Flat Fee Listing Service that specializes in real estate marketing for homeowners. We will list your property for a flat listing fee. The homeowner pays only one agent at closing (3+/- %). If the homeowner shows the property to a buyer not working with an agent they pay no commission.
Agents that are "Jack-of-all-trades;" cannot possible do-it-all. Sellers need to work with someone who is highly experienced for what they need which is an agency that specializes in real estate marketing.
Just like if you have a heart condition. A family physician is great, but if you need heart surgery are you going to use the best heart surgeon or someone that does it all?
Carolyn West is a license Real Estate Broker, Coach and Trainer in Atlanta Georgia. Carolyn specializes is helping the "For Sale By Owner" client sell their property themselves without having to pay huge commission fees to List their properties in the Multiple Listing Services (MLS).
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