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If one were to list a house with a real estate agent in Cape Coral, I would like to hear from others the pros and cons of choosing an agent from the "big" brokers (Century 21 or Remax) versus one from a smaller company. Any advice, especially from personal experience, would be appreciated.
nowadays listing with a realtor in a market as big as Cape Coral is almost irrelevant. it is rare that a listing agent procures the buyer. The listing broker typically takes the listing , has a photographer take the pictures, writes a small description of the property and throws it on the internet where over 90% of buyers discover the home via popular websites such as Zillow and Realtor.com. The listing agent usually puts a lockbox on the door and does next to nothing. they don't do open houses or even attend showings. They collect a fee (usually around 6%) this commission is usually split between 4 people the selling broker/ selling agent/ buyer broker/ buyer agent. three of the four do little to zero work.
In a good market don't waste your time or money on a traditional realtor. go to a discount flat fee realtor that charges something like $400 to list your home on all the same sites, you can still offer the buyer agent 2.5- 3% for procuring a buyer. or just straight out do for sale by owner on Zillow. With very little work you can save a lot of money. but this all goes that you have some understanding of buying and selling real estate. In general technology has replaced much of the listing realtors necessity buy yet their fee structure hasn't really changed. In my opinion they no longer earn their commission.
nowadays listing with a realtor in a market as big as Cape Coral is almost irrelevant. it is rare that a listing agent procures the buyer. The listing broker typically takes the listing , has a photographer take the pictures, writes a small description of the property and throws it on the internet where over 90% of buyers discover the home via popular websites such as Zillow and Realtor.com. The listing agent usually puts a lockbox on the door and does next to nothing. they don't do open houses or even attend showings. They collect a fee (usually around 6%) this commission is usually split between 4 people the selling broker/ selling agent/ buyer broker/ buyer agent. three of the four do little to zero work.
In a good market don't waste your time or money on a traditional realtor. go to a discount flat fee realtor that charges something like $400 to list your home on all the same sites, you can still offer the buyer agent 2.5- 3% for procuring a buyer. or just straight out do for sale by owner on Zillow. With very little work you can save a lot of money. but this all goes that you have some understanding of buying and selling real estate. In general technology has replaced much of the listing realtors necessity buy yet their fee structure hasn't really changed. In my opinion they no longer earn their commission.
nowadays listing with a realtor in a market as big as Cape Coral is almost irrelevant. it is rare that a listing agent procures the buyer. The listing broker typically takes the listing , has a photographer take the pictures, writes a small description of the property and throws it on the internet where over 90% of buyers discover the home via popular websites such as Zillow and Realtor.com. The listing agent usually puts a lockbox on the door and does next to nothing. they don't do open houses or even attend showings. They collect a fee (usually around 6%) this commission is usually split between 4 people the selling broker/ selling agent/ buyer broker/ buyer agent. three of the four do little to zero work.
In a good market don't waste your time or money on a traditional realtor. go to a discount flat fee realtor that charges something like $400 to list your home on all the same sites, you can still offer the buyer agent 2.5- 3% for procuring a buyer. or just straight out do for sale by owner on Zillow. With very little work you can save a lot of money. but this all goes that you have some understanding of buying and selling real estate. In general technology has replaced much of the listing realtors necessity buy yet their fee structure hasn't really changed. In my opinion they no longer earn their commission.
Let me break it down for everyone since I train for a big brand and used to own my own small brokerage:
FlatFee - FSBO that pays to be on the MLS. No service/support, no one there to help you, guide you, assist you, market the house, screen buyers/time-wasters. This is for someone who has a R.E background or friends/family is a RE lawyer and your house needs work and wants a quick sale. Usually sells for 8-10% less than market
FSBO - same as above, but worse. Lots of weirdos calling you, knocking on your door. 8% chance of selling it successfully. Zero marketing besides listing it on zillow and praying it sells (one of the '3 Ps) most calls will be realtors soliticing your listing. If you don't offer the 3% buyer brokerage fee, your chances of selling drop by half. Usually sells for 10%-18% less than market with an increase of 30-50 days on market. Constantly having to be home for showings, always answering your phone because 'you never know'.
Small Brokerage - depends on the agent you get honestly. you could get a hungry hustler like I was in my small company. No big budget for marketing a large/luxury home (I stayed under $1ML in Miami for that purpose). You could end up with a part-time agent though, most of them flock to the small companies since they have a regular job. Sniff this out immediately! You will suffer and end up with a story like 'NHKEV' just said above. (and think all agents are the same). This is where you can try to get a discount commission (but you might end up with discount services).
Big Brokerage -massive exposure of your home. I was blown away by the amount of web traffic my listings got my first 30 days at the new large company vs what i was getting with my own brokerage. Commissions will usually be 6% but that's because the agent gets so many tools to use and the split they have to pay to the company. However the brand name usually attracts more attention and lends credibility to the buyers and their agents. (And you want the buyer's agents out there excited about your listing, not turned off because your agent used crappy photos, no 3-D tours, discounted commission, hard to get a hold of because they are working somewhere else, etc etc). Agents here are trained to sell their own listings and lock-boxes usually aren't utilized for owner occupied homes with full-service brokerage homes.
Bottom line -you get what you pay for! Sniff out the part-time agents, check out the marketing plan, ask how you're going to get my home sold vs everyone else and go with your gut...if you need referrals, send me a PM with where you are located and what kind of home you have (Luxury, waterfront, etc.) and I'll reply with 1-2 people that could work out. I know good agents all over SW FL!
Let me break it down for everyone since I train for a big brand and used to own my own small brokerage:
FlatFee - FSBO that pays to be on the MLS. No service/support, no one there to help you, guide you, assist you, market the house, screen buyers/time-wasters. This is for someone who has a R.E background or friends/family is a RE lawyer and your house needs work and wants a quick sale. Usually sells for 8-10% less than market
FSBO - same as above, but worse. Lots of weirdos calling you, knocking on your door. 8% chance of selling it successfully. Zero marketing besides listing it on zillow and praying it sells (one of the '3 Ps) most calls will be realtors soliticing your listing. If you don't offer the 3% buyer brokerage fee, your chances of selling drop by half. Usually sells for 10%-18% less than market with an increase of 30-50 days on market. Constantly having to be home for showings, always answering your phone because 'you never know'.
Small Brokerage - depends on the agent you get honestly. you could get a hungry hustler like I was in my small company. No big budget for marketing a large/luxury home (I stayed under $1ML in Miami for that purpose). You could end up with a part-time agent though, most of them flock to the small companies since they have a regular job. Sniff this out immediately! You will suffer and end up with a story like 'NHKEV' just said above. (and think all agents are the same). This is where you can try to get a discount commission (but you might end up with discount services).
Big Brokerage -massive exposure of your home. I was blown away by the amount of web traffic my listings got my first 30 days at the new large company vs what i was getting with my own brokerage. Commissions will usually be 6% but that's because the agent gets so many tools to use and the split they have to pay to the company. However the brand name usually attracts more attention and lends credibility to the buyers and their agents. (And you want the buyer's agents out there excited about your listing, not turned off because your agent used crappy photos, no 3-D tours, discounted commission, hard to get a hold of because they are working somewhere else, etc etc). Agents here are trained to sell their own listings and lock-boxes usually aren't utilized for owner occupied homes with full-service brokerage homes.
Bottom line -you get what you pay for! Sniff out the part-time agents, check out the marketing plan, ask how you're going to get my home sold vs everyone else and go with your gut...if you need referrals, send me a PM with where you are located and what kind of home you have (Luxury, waterfront, etc.) and I'll reply with 1-2 people that could work out. I know good agents all over SW FL!
Marc
You always have good info. Unfortunately, finding an agent like you is hard and rare. I have dealt a few times with agents that are as outlined in other posts. Get the listing and move in. This happens in spite of their marketing stories. They believe their own lies.way too many in the game. I still get a kick out of agent’s photos on their advertising of today that must have been taken when Regan has his first term aa President.
Let me break it down for everyone since I train for a big brand and used to own my own small brokerage:
FlatFee - FSBO that pays to be on the MLS. No service/support, no one there to help you, guide you, assist you, market the house, screen buyers/time-wasters. This is for someone who has a R.E background or friends/family is a RE lawyer and your house needs work and wants a quick sale. Usually sells for 8-10% less than market
FSBO - same as above, but worse. Lots of weirdos calling you, knocking on your door. 8% chance of selling it successfully. Zero marketing besides listing it on zillow and praying it sells (one of the '3 Ps) most calls will be realtors soliticing your listing. If you don't offer the 3% buyer brokerage fee, your chances of selling drop by half. Usually sells for 10%-18% less than market with an increase of 30-50 days on market. Constantly having to be home for showings, always answering your phone because 'you never know'.
Small Brokerage - depends on the agent you get honestly. you could get a hungry hustler like I was in my small company. No big budget for marketing a large/luxury home (I stayed under $1ML in Miami for that purpose). You could end up with a part-time agent though, most of them flock to the small companies since they have a regular job. Sniff this out immediately! You will suffer and end up with a story like 'NHKEV' just said above. (and think all agents are the same). This is where you can try to get a discount commission (but you might end up with discount services).
Big Brokerage -massive exposure of your home. I was blown away by the amount of web traffic my listings got my first 30 days at the new large company vs what i was getting with my own brokerage. Commissions will usually be 6% but that's because the agent gets so many tools to use and the split they have to pay to the company. However the brand name usually attracts more attention and lends credibility to the buyers and their agents. (And you want the buyer's agents out there excited about your listing, not turned off because your agent used crappy photos, no 3-D tours, discounted commission, hard to get a hold of because they are working somewhere else, etc etc). Agents here are trained to sell their own listings and lock-boxes usually aren't utilized for owner occupied homes with full-service brokerage homes.
Bottom line -you get what you pay for! Sniff out the part-time agents, check out the marketing plan, ask how you're going to get my home sold vs everyone else and go with your gut...if you need referrals, send me a PM with where you are located and what kind of home you have (Luxury, waterfront, etc.) and I'll reply with 1-2 people that could work out. I know good agents all over SW FL!
So it’s all about the brand and less about the agent? And what tools exactly? All I hear from multiple brokerages is oh our technology is so great and blah blah blah....everyone.
I have to say to your credit though your breakdown seems to be fairly objective.
These tools you speak of and technology are only going to become more powerful and efficient so the one guy had it right saying realtors do less work nowadays as a result yet commissions haven’t changed...
And the reason most realtors need full time jobs is because there isn’t enough of the pie to go around, period. All the people selling classes and study material will have new agents believe otherwise. The hardest part about being a realtor isn’t even the job it’s self, it’s fighting with other realtors over the pie.
My point is anyone capable of passing a real estate license exam (albeit very easy) is capable of joining a big brokerage and plugging into the system their listing, letting the technology do the work and then screen some calls. I understand different properties need different marketing strategies (luxury, mobile home, etc) but once again it seems the technology does all the heavy lifting. Technology is the only leverage agents are clinging on to.. but the free market will evolve and as good technology becomes more pervasive for everyone, agents will in the future have a harder time justifying their commissions.
Last edited by JPrzybylski07; 07-09-2019 at 03:51 AM..
I will say Marc is you have to believe in what you are selling first, which is a service, and since everything in life is so psychological if you truly believe in the cost of your service (commissions) and can justify it in your own head then that’s a lot of the battle and other people will be sold on you too... having a true confidence in your value definitely separates you from other agents right there alone...
No one, i buy and sell real estate often. Just closed on a property this afternoon. I specifically said in a big market like cape coral. You don't need them. And also said to offer 2.5-3% to buyer.agent, Listing agents and brokers aren't needed in the cape. Most of the time when i sell it is within 30 days and for market value. Just about every stat you put out is probably studies put out and paid for by NAR. Which makes them all biased. Probably based off a study from 1980 before the internet
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