In the movie ‘The Castle’ Darryl Kernigan’s favorite saying when his son found advert’s for overpriced goods for sale was ‘Tell em they’re dreamin!’
In today’s real estate market there are a lot of reasons to tell agents that ‘They’re dreamin!’
High commissions and expensive marketing costs are an unnecessary cost that no-one needs to pay in this day & age as there are plenty of alternatives. However it’s interesting to look behind the ‘hidden costs’ that inflate some agents fees. Many agents are signed up to what appear to be very helpful websites that enable vendors to search for a suitable agent in their area.
These sites are very helpful for one very simple reason: they share the agents commission! Some referral websites charge the agent as much as one third of their commission as a fee for the privilege of simply letting the agent know the contact details of someone who is looking for an agent to list their house with…that’s a lot of money and it is just another reason why commissions are so high.
Financial Adviser’s, lending companies and many other businesses that deal with the public are forced through legislation to declare their commissions and charges. Why not the real estate industry?
Why should a person who is looking for a cost effective way to find an agent to sell their house not be told that the very website that they are searching on could be adding as much as 1/3 to the cost. This is unfair and could easily be interpreted as a deceptive practice, particularly when the vendor is not told by either the website or the agent.
So next time you are in a Castle kind of mood…..tell em they’re dreamin! and save thousands on your sale.