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Good day everyone!
I finally found the right forum to get some more information to what I am looking for. I am currently looking for family businesses and locally-owned businesses in Miami, Los Angeles, and Boston. As I've mentioned in my other threads, not looking for a real estate corporation. I don't like the high commissions and there are too many places that has not met my needs. I think that getting in touch with a locally positioned business would help because they have their trusted customers and they are comfortable from where they stand. A free consultation would be great and a working phone number would be ideal. Anyone has any solid suggestions to recommend to me? Do these type of businesses still exist?
To do what, help you sell or buy a house? I hate to break it to you, but every agent is an IC therefore they are all local, family owned and operate mostly independently regardless of which franchise they choose to hang their license.
To do what, help you sell or buy a house? I hate to break it to you, but every agent is an IC therefore they are all local, family owned and operate mostly independently regardless of which franchise they choose to hang their license.
That is good to know, actually. However, Sotheby's and Christie's take a big chunk of commission from their hired agents. Agents work hard but unfortunately their skills are hardly, ever noticed.
That is good to know, actually. However, Sotheby's and Christie's take a big chunk of commission from their hired agents. Agents work hard but unfortunately their skills are hardly, ever noticed.
It's hard to know what value the office provides the agent. My advice is if the agent is to not worry about the company split the agent pays as it's not relevant to your business or the service you get. If the agent's happy with the value their company provides and the split they get, you should just mind your own business.
Even some Indies and mom and pops charge high splits, and some large companies actually charge low splits (I know Re/Max and KW usually have very reasonable fee structures for agents)
I disagree with your assumptions that a locally owned business has any more local customers than a national or regional brokerage, or that they will sell it themselves.
Ask any agent to bring you the stats. What % of homes do they sell themselves and what % is co-broke? For years in my area it was something like 95% of the sales were co-brokered. That's the beauty of the MLS. So more than just me and my small or even large network of friends, family, clients...almost any agent should open it up to the world for you. That's how you get the most leads, the most offers, the highest potential sale. That 95% meant 95x out of a 100, an agent from another brokerage brought the buyer to you.
Also I think it is potentially false that only a local buyer would buy your property. You can ask any agent you interview to bring an example of the last listing they sold. Have them print out a list of agents that showed the property. You might be surprised. There will be agents from all over the area from all different companies. It's actually pretty rare I sell a home to a buyer in my home city. In Miami, you very well could get buyer agents that are based in Coconut Grove, FLL, Boca x, Homestead, Hialeah, and all the other great cities around your area.
The buyers themselves may be from every state and all over the world.
If anything I would think you might want to use one of the largest brokerages that have offices and agents all over the world. We often network together to get home sold. For example just today I am reaching out from Texas to Naples to find a listing agent for one of my client's homes there. Tap into that network of 100K+ agents.
I disagree with your assumptions that a locally owned business has any more local customers than a national or regional brokerage, or that they will sell it themselves.
Ask any agent to bring you the stats. What % of homes do they sell themselves and what % is co-broke? For years in my area it was something like 95% of the sales were co-brokered. That's the beauty of the MLS. So more than just me and my small or even large network of friends, family, clients...almost any agent should open it up to the world for you. That's how you get the most leads, the most offers, the highest potential sale. That 95% meant 95x out of a 100, an agent from another brokerage brought the buyer to you.
Also I think it is potentially false that only a local buyer would buy your property. You can ask any agent you interview to bring an example of the last listing they sold. Have them print out a list of agents that showed the property. You might be surprised. There will be agents from all over the area from all different companies. It's actually pretty rare I sell a home to a buyer in my home city. In Miami, you very well could get buyer agents that are based in Coconut Grove, FLL, Boca x, Homestead, Hialeah, and all the other great cities around your area.
The buyers themselves may be from every state and all over the world.
If anything I would think you might want to use one of the largest brokerages that have offices and agents all over the world. We often network together to get home sold. For example just today I am reaching out from Texas to Naples to find a listing agent for one of my client's homes there. Tap into that network of 100K+ agents.
This is good information to know... really. I am writing this down on paper. So, basically agents in the U.S.A. has to be open-minded, not only in his/her area but in an international view, too. What about the buyers? How would an agent know if the buyer has the money to afford the property? Most buyers are asking for a mortgage loan? Or, do they really have the full payment ready, no questions asked kind of deal? Does the agent convince the other party in a way to grab the buyers attention or the buyer is the one that makes up his/her mind to work with that agent? The psychology of this is whats interesting...
Would you say that someone who has lived their entire life in his/her area is not capable to move and adjust to a new place, a new city, or a different country? Or, there are people out there who can just adapt to any situation according to their salary and/or lifestyle?
Almost all intl buyers will be cash. Pretty tough to get loans for intl buyers. Local buyers 1/3 are for cash. We ask for proof of funds. While not 100% foolproof you can often judge a person's money, by internet research and asking questions. Where are they staying, what do they own, where do they vacation, where do they work, verify all that. Not a perfect science, but if you get a great agent, they normally don't want to waste their time or yours.
Last question...there are both. My brother in law at 65 has lived his whole life in his small town. Now has decided to move 12 hours a way to be closer to his daughter.
I've lived all over the world, but in the same place for last 20 years. I've had some ideas on places I might want to retire, but daughter is in Rio, ready to have kids, and that changes my perspective somewhat. Not sure I will be in Rio full time, but I expect more often and for longer than I imagined. So everyone is different. Some people want to be comfortable with the familiar and some people ready to take on a new challenge.
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