Here’s an article you may have seen on MSN’s home page…. The rise of the Internet and home-sale discounters is causing real estate agents to accept lower commissions and, in some instances, resort to legally questionable protectionist tactics.
First of all, let me say that here in the Fargo Moorhead market we are insulated from many of the bigger city feuds and battles that are waged over price and pricing and commissions and what the seller has to commit to.
Yes, you will read about the seller who saved “thousands” by selling her home without an agent. Let me just say that the local market and the local buyers in
Southern California are just plain bigger than here in the ND/MN area. Plainly put, there are more people looking online to purchase a home in a community like that and therefore she can ‘get away’ with not putting her home on the Multiple Listing Service (MLS) The article goes on to say that she “saved” $34,000 in commissions. What it doesn’t say is how much she paid a title company to do the legal search, the attorney to draw up the papers, and the advertising (in dollars and in time spent) she did to close this sale.There is a long list of companies and Web sites that allow consumers to do everything from obtain free estimates of their homes’ worth, to those allowing a customer to buy and sell homes without setting foot in a Realtor’s office. Case in point, Zillow.com, best known for providing online house-value “zestimates,” began allowing consumers and pros to list homes on its site for free. Because of Zillow and other sites, buyers and sellers can now gamble on negotiating a lower commission with a traditional agent. And what I tell my customers is in response to that is a flat out DON’T. Why should a homeowner who is trained in or good at negotiation get a better deal than Joe Neighborhood who just wants to sell his house? Park Company commands the top 1% of the Fargo/Moorhead Real Estate Market and there are some very specific reasons for that.
- Because we have a proven track record
- Because we actively and successfully market our listings at our West Acres Mall Kiosk location
- Because we have more than 80 agents with their own personal sphere of influence marketing your listing
- Because we publish a Your Guide To Homes in the Fargo Forum which showcases every ParkCompany listing in a glossy magazine format
- And, if you have even read this far… because I personally care – a lot!
Apparently letting go hasn’t been easy for some real estate agents. In many areas, agents have refused to show their clients properties listed by discount rivals. LET ME BE VERY CLEAR HERE… THIS PRACTICE IS AGAINST OUR REALTOR CODE OF ETHICS. We, as Realtors, cannot – I repeat – CANNOT refuse to show you a home just because it is listed for SALE BY OWNER, or because the legitimate agent has it listed but is only paying a small percentage to the agent who brings the buyer. EXCUSE ME! But I thought it was you – HELLO – the buyer who was buying the house! Who cares what rigamarole goes on to make that happen? I’ve found that some consumers try out alternative brokers only to find they value the services of an agent after all.
I can offer customers good service, and actually many times I’ve been called in when things fall apart or languish. There’s so many things that can go wrong locally and the local people need so much more information and support than the Internet alone can offer. Traditional real estate agents are holding their own, and that just illustrates a larger point, that most people will want to continue working with a traditional agent who can help them navigate the complexities of the inspection, title, financing and negotiation process, and fill them in on everything they need to know about the local area.
