Examining the Stigma of the “Discount” Brokerage

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I never heard the word discount used in such a disparaging way until I became a Realtor.  Who doesn’t love a discount?  In our industry, however, a discount broker is sometimes looked at sideways by a good many in the industry nationwide.  Too often, the perception of a discount or flat-fee brokerage is one of neglecting the clients or disrupting the industry itself by offering lower rates or commissions.

Not a winning endorsement is it?  Well, as a broker owner that does have pricing on the lower end, I wanted to spend some time on this topic and provide some guidance that might help clear the fog for today’s consumers.  With the right research, this could be an opportunity to examine.

Speaking of consumers, I apologize that all this confusion might impact your decision making and, potentially, your bottom line.  Assuming that all brokerages that charge less must offer less is incorrect.  When uttered by real estate professionals as a knee-jerk response to a lower-priced competitor, that simply makes folks suspicious of us all.

I won’t make the same mistake and tell you all agencies that have lower pricing are wonderful.  On the flip side, I won’t tell you firms that charge more are wrong to do so because I don’t know all of the service lists of the 1000 plus brokerages in the KC Metro.

As in everything in life, we must do our own homework.  I want to encourage you to do your own research when interviewing your listing agent.  No matter how many brokerages you interview, ask for a marketing plan, a services list, a list of client testimonials or references, the Realtor’s resume, plus their track record on sales.  This way you can see if you are comparing apples to apples because these are the differentiators….the value/experience/professionalism being provided.  You then can move forward with an educated decision based on facts no matter which brokerage gets your business.  For further assurance, arrange for a concession in the listing agreement that you can cancel your agreement if these promises are not being kept.

As for Domicile One Realty, we didn’t just throw a dart and pick our price.  We know our bottom line, costs per transaction and our monthly overhead is kept low.  It’s not a discount.  Our price is just our price.  We really do care about our clients getting as much in seller proceeds as possible and we can still do that and offer a full service experience at the same time.  If a client can even retain an additional $1,000 that doesn’t go to commissions and fees….well, that’s real money folks.  That’s a local moving truck, or books for a semester of college, a new refrigerator, or maybe a car repair….you get the idea.

Our listing service fee?  3% not to exceed $3,950 on listing side + 3% for Buyer’s Agent.  No office or transaction fees…not ever.

As usual, please don’t hesitate to contact us with any questions you might have and we’d love to be one of the brokerages you interview if you are contemplating a sale.

Thanks for visiting the blog today and I hope you have a great week!

Terry Jackson |  Domicile One Realty  |  http://www.DomicileOne.com  |  913-488-5623

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