Who Wants to Pay Big Commissions? Part 4

This is the final blog on a topic we’ve been looking at over the last several weeks regarding real estate broker commissions. Some people think discount brokerage firms are the way to go. Why not pay the lowest commission possible because “Hey, my house is a palace and anyone could sell it.” Or another common practice is to hire a reputable agent at a good firm and then negotiate him or her down to the lowest possible commission rate. If you’ve followed this blog over the last few weeks then by now you realize these strategies have some flaws. Last week we gave you a partial list of 18 services that a real estate agent provides when listing your home. Today, in the final installment on this topic, we’ll examine how an agent works to assist you if you’re on the other side of the transaction – that is, if you’re in the market to buy. Here’s a quick listing of what you can expect: § Meet with you to review your housing needs and compile comprehensive suggestions that meet your requirements for features, affordability and location of your future home.§ If you’re changing neighborhoods, agents arrange tours of areas you’re interested in, help you locate schools, places of worship, shopping, financial institutions and employment centers. We will also find hotel accommodations and child care if necessary while you’re touring.§ Evaluate and recommend the home price range most suited to your financial situation and illustrate the benefits of pre-qualifying for a loan. We’ll also help put you in contact with a qualified lender to obtain financing and a complete estimate of closing costs, including loan fees, prorations and escrow fees.§ Make appointments for you to see homes you’re interested in and give you vital information about the real estate market and values.§ Provide information on real estate taxes, utility costs and other pertinent information to allow you to make the most informed decision possible.§ Professional agents disclose all adverse facts known regarding a property’s physical characteristics. § Once you’ve found the right home and are ready to make an offer, we’ll prepare the contract according to your directives, explain real estate procedures common to the common to the Denver market and deliver your offer to the seller’s broker for consideration.§ After the contract has been accepted by the seller, we’ll help you arrange for a qualified home inspector to inspect the property and guide you through the entire contract process in order to meet deadline requirements and contact conditions. § As real estate professionals, agents use care and skill in performing these duties and maintain the highest degree of honesty and professionalism throughout the transaction. § We stay in touch with you from the first day of your search until the day you settle into your new home. Our service doesn’t stop at the closing. The debate over real estate broker commissions has been going on for the last 30 years, and I’m sure it will go on far after I’ve retired. Critics say the Internet has changed everything. The market is different; buyers and sellers are more educated then ever, and, like it or not, the business of real estate will never be the same. My answer to those claims is yes, all those statements are true. More people are educated about real estate then ever before and the Internet is largely responsible for that. But I think that’s great because working with educated consumers makes my job easier. The business of real estate is constantly changing, yet in my view that’s even more reason why it’s important to hire a professional real estate agent that works in the field full-time and keeps up with these changing conditions and trends.

I would consider it a pleasure to represent you in your next real estate transaction. If you would like to speak with me regarding the sale or purchase of a home, please contact me at 303-522-1161 or dpolimino@fullerproperties.com. Take a moment and visit my listings by clicking on the button to the right labeled “Dan Polimino’s listings.”