RIVERLAND REALTY

JADs-Notebook is brought to you by John A. Dolloff REALTOR® / Sales Associate of Coldwell Banker Riverland Realty 11824 N. Williams St. US Hwy 41 Dunnellon, FL 34432 Wilbur Vanwyck, Broker. 800-927-4837 352-489-4511 352-489-9976 fax, Email: RiverlandRealty@Bellsouth.net

Q. I recently interviewed several real estate agents from a number of different real estate offices inquiring about their services and asking what they thought the value of my house would be if I were to list it for sale. I ended up a little confused by the variety of responses. There were a few Realtors who told me my house was worth a lot more on the market than what most others had quoted me and then there were still more who quoted me a brokerage fee well below the others. Why is that? Shouldn’t everyone be the same if it’s the same house?

A. As a home owner it is vitally important when you consider listing your property for sale that you consider the overall quality of service of your real estate professional as well as the quality of service provided by the real estate office itself. At Coldwell Banker Riverland Realty we strive to offer our customers only top-of-line service. Our office routinely receives many awards and is nationally recognized. Locally we out perform our top two competitors combined. Personally in 2003 I was Riverland Realty’s ‘Rookie of the Year’ and in 2004 I earned Coldwell Banker International’s ‘President’s Elite’ award (1^st time it’s been done in office history) and I also closed 111 transactions for the year (also an office record). It’s dedication to service backed by performance that counts; it’s what sets my work and our office apart from the others.

It is because very few other offices can provide the constant quality of service that our office offers to its customers that other offices are forced to compensate in some way. One such way an agent or office may try to compensate for the service they lack will be to try and entice a homeowner to list their property for sale by quoting an asking price far above the actual market value of the property. You see all real estate agents know that when you sell your home you are going to want to net as much from the sale as possible. Therefore some will tell you an inflated asking price, a price far above the actual market sales value, and they do this only so they can get the listing.

Whenever a real estate professional quotes you an asking price, as a marketing price for the sale of your home, always ask to see proof of how they came to this conclusion. The danger if you price your home too far above the market value is quite possibly your home will not sell, you loose time and money, you may have to lower your price even below where it should have been to start, but mostly it does you a disservice by creating unrealistic expectations.

You also mentioned the discrepancy in brokerage fees (please read this entire passage so that I am not misunderstood or misquoted). This is something that happens because not all realtors or real estate offices are the same. With some offices that offer low brokerage fees they also offer limited service, while other agents and offices need to do so because they know they are unable to offer the same quality of service as some other offices. Therefore they will compensate by trying to entice you to list with them with a lower brokerage fee. Do not misunderstand what is being explained here – there is no ‘set’ rate for brokerage fees, BROKERAGE FEES ARE NEGOTIABLE. But understand you are paying for a service - you may only get what you pay for.

As a homeowner you may think that you will save yourself some money by paying a lesser brokerage fee, but if you are going to go that way demand proof of the agent and office’s track record. Inquire into the agent and office’s quality of service, what they really offer, and their competence. Your home is most likely your most valuable asset and you don’t want to entrust its sale to just anybody, especially the lowest bidder.

Recently, the above happened, where a couple elected to list their property with another office. Curious, I reviewed the listing of their home in the Multiple Listing Service only to find a number of errors. I checked the listing again the next day to discover that it had expired and was no longer on the market for sale, because the listing date information had been input wrong. (Realtors are responsible to check their listings for accuracy.) I am concerned for this couple because if errors were made when inputting the listing, I would also be leery of errors that could be made on a sale and purchase contract. Their decision could come back to haunt them.

In summary, going with someone who tells you the highest asking price or offers you the lowest brokerage fee is not always in your best interest. Look at the overall quality of service, look at the track record, and ask for proof to substantiate their claims.

EMAIL ● Business 352-489-4511 ● Toll Free 800-927-4837 ● Fax 352-489-9976 ● Cell 352-209-3030