Miami real estate news and information

Hiring a Top Realtor … How to Get the Most for Your Money

hand shake

What will it cost you to hire a Top Realtor?    

Honestly, do you really want to give away 6% of your sales price to a real estate agent?   Isn’t that a bit over the top? 

Why pay the ‘full fee”?  According to  The New York Times article  published on January 28, 2011 entitled  “You Don’t Have To Pay It” …   you certainly don’t have to pay it… and  by “IT” the New York Times is referring to a 6% commission! 

Sales commissions are not set in stone. They are not fixed or decreed by the National Association of Realtors (NAR), nor by the Florida Association of Realtors (FAR), nor by any group of Realtors that I’m aware of.   In Miami… commissions are negotiable.  Comissions are negotiated and agreed to between the seller and the Real Estate Broker the seller hires to list and sell the home.

Interestingly enough, South Florida is seeing commissions along the lines of what the New York Times considers the ‘norm’ … but there is definitely a range …  and commissions definitely a subject to negotiation.  Because of the current real estate climate some sellers are offering 7% commissions …  a full 1% higher than the  “6% norm”  quoted in the New York Times.  Do sellers need to offer additional incentives  in order to sell?     Personally, I don’t think so.  But that too is a subject of considerable discussion. I think that in these hard economic times, Realtors need to understand that they are going to have to earn their keep… and do their job!

Sellers are entitled to negotiate  the terms (terms of the listing agreement, terms of the contract, terms of the sale) … but more importantly they need someone to negotiate for them… and negotiate well!    Yes…  sellers have a say in all of it… every step of the way …    and that  includes setting commission terms with their own Broker.

Have I  been asked to reduce my commission?   Yes, but very infrequently.    The fact that another agent feels their services are of lesser value doesn’t mean the seller will fare better in the long run by hiring the other agent. 

You hire a Realtor (or an attorney for that matter) for what they will save you … not what it will cost you.  The cost of  services is a hot debate right now.  Agents, buyers, sellers  are bantering back and forth … And, you  will undoubtedly get what you pay for.  You’re selling one of the biggest investments you’ve probably ever made …  Find a top negotiator.  If your agent buckles as they negotiate with you,  it doesn’t bode well for how they are going to handle they will handle the negotiations for you.…   I just want to point out that from contract negotiations to closing there are hiccups just waiting to happen …literally  non-stop along the road.  From finding the buyer, to negotiating the contract, handling inspections  & repair items ….and potentially having to re-negotiate  contract terms after inspections ,  appraisal issues, financing contingencies,  title and closing, … having a top real estate professional  who can guide you through the maize  unscathed … and get you to the closing table , you want an experienced Realtor to navigate and oversee it for you …

A  top Realtor  can save thousands if not tens of thousands of dollars.  You’re hiring a  negotiator …  someone to oversee the process from start to closing …  navigate the myriad of  hurdles and hiccups along the way… and get you to the closing table.  And when you do, I (and my team) will be more than happy to assist you.  Call.  I look forward to working with you.  You can reach me at 305 793-1365 or send me a note here.

To receive my blog posts directly to your inbox, click here to subscribe.