"Full Service" vs. "Discount" Realtors
Much attention is paid to what Realtors get paid.
A lot less to what services they perform for that money.
The reality is that there is no such thing as a "discount Realtor" offering full service. Rather, what they offer is more properly called "limited service."
What do I mean by that?
To pick just one detail -- and real estate involves hundreds of them -- a discount Realtor will put up a "For Sale" sign in your front yard.
A full service Realtor will add a sign "rider" that reads "waterfront" to draw attention to the otherwise invisible lake in back.
A great full service Realtor will have a custom rider made up that says "59' Lakeshore."
Showing posts with label full service Realtor. Show all posts
Showing posts with label full service Realtor. Show all posts
Wednesday, October 14, 2009
Sunday, September 27, 2009
"Full Service," Defined
Attention to Detail + Hands On Role
What exactly do Realtors mean when they say they're "full service?"
It's certainly a fair question, because a full service commission in the Twin Cities these days typically ranges from 6% - 7%. By contrast, "discount" Realtors charge 5% or even less ("limited service" is actually a better label).
My full explanation takes about 90 minutes, which I cover as part of a formal listing presentation that I make to prospective clients.
Suffice to say, I play a "hands on" role -- starting weeks (and even months) before my listings ever hit the market, to well beyond closing.
That includes knowing all there is to know about both recently sold properties (the "comp's") and competing "Active" listings, so I can give expert guidance on pricing; suggesting cost-effective improvements to maximize the home's value; and building market awareness -- well before the home formally debuts on MLS -- both with other agents and the general public.
"Full Service" . . . in Practice
In fact, my input goes well beyond simply recommending value-adding improvements.
As an example from just this week, my client was in the process of painting their home -- at my recommendation -- to get it ready for sale. However, the paint colors they selected just didn't seem right.
I knew, because I was in daily contact with both the client and the painters.
As part of "full service," I asked two stagers I regularly work with to interrupt their schedules and come to the house, ASAP, to make suggestions from their color palettes.
Which they did. They both recommended near-identical colors, which my client OK'd, and the (waiting) painters immediately substituted.
Example #2
The second illustration of what "full service" involves was . . . today.
The key to my client's just-listed home is the Kitchen, and the Kitchen has a prominent light fixture with 3 halogen bulbs. Unfortunately, 2 of them didn't work.
Normally, my client would attend to that, but they timed their vacation to be out of the way the first week their home is on the market.
So, I went to the hardware store to find replacements. "Not so fast," the salesperson I talked to said. The bulbs were specialty bulbs, and I needed to go to a specialty store for replacements.
Which I did.
After I finished, I had just enough time to join my family on an apple-picking outing.
P.S.: And no, "full service" does not include getting my clients' dry cleaning, babysitting their kids, etc.
What exactly do Realtors mean when they say they're "full service?"
It's certainly a fair question, because a full service commission in the Twin Cities these days typically ranges from 6% - 7%. By contrast, "discount" Realtors charge 5% or even less ("limited service" is actually a better label).
My full explanation takes about 90 minutes, which I cover as part of a formal listing presentation that I make to prospective clients.
Suffice to say, I play a "hands on" role -- starting weeks (and even months) before my listings ever hit the market, to well beyond closing.
That includes knowing all there is to know about both recently sold properties (the "comp's") and competing "Active" listings, so I can give expert guidance on pricing; suggesting cost-effective improvements to maximize the home's value; and building market awareness -- well before the home formally debuts on MLS -- both with other agents and the general public.
"Full Service" . . . in Practice
In fact, my input goes well beyond simply recommending value-adding improvements.
As an example from just this week, my client was in the process of painting their home -- at my recommendation -- to get it ready for sale. However, the paint colors they selected just didn't seem right.
I knew, because I was in daily contact with both the client and the painters.
As part of "full service," I asked two stagers I regularly work with to interrupt their schedules and come to the house, ASAP, to make suggestions from their color palettes.
Which they did. They both recommended near-identical colors, which my client OK'd, and the (waiting) painters immediately substituted.
Example #2
The second illustration of what "full service" involves was . . . today.
The key to my client's just-listed home is the Kitchen, and the Kitchen has a prominent light fixture with 3 halogen bulbs. Unfortunately, 2 of them didn't work.
Normally, my client would attend to that, but they timed their vacation to be out of the way the first week their home is on the market.
So, I went to the hardware store to find replacements. "Not so fast," the salesperson I talked to said. The bulbs were specialty bulbs, and I needed to go to a specialty store for replacements.
Which I did.
After I finished, I had just enough time to join my family on an apple-picking outing.
P.S.: And no, "full service" does not include getting my clients' dry cleaning, babysitting their kids, etc.
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