What if the agent was the largest producer for
just one week? They don't advertise that information. Again, not as
quite as impressive. Most people just assume that the agent is the
either the largest producer ever or for atleast a long period of
time like a year.
If we don't sell your home we will buy it!
Are these Realtors so confident in their ability
to sell your home that they will buy it if it does not sell? Not
really. If you read through the details you will see that the
chances of the Realtor buying your home are slim to none. Most of
the agents who advertise this have never bought one of their
client's homes. In order for the agent to purchase your home there
are usually numerous requirements such as them buying your home for
the appraised value minus various costs like financing and marketing
(broker commissions) fees. In the end, it does not make much sense
for the home owner to sell to the Realtor.
Your home sold in 30 days or we will sell it for free!
This one is similar to the above hyped program.
Typically, there is a list of things the homeowner would have to do
to get the Realtor to sell his house without a commission. In
reality, it rarely happens. Typically, the Realtor requires that the
homeowner price the property at a value given by an appraiser or by
the real estate agent. Other requirements may be:
the home would also be required to be easily seen
on short notice.
If the homeowner does not perform on any these
tasks then the Realtor would not be required to sell the home free.
There are all kinds of caveats that the agent can have to get them
out of selling your home for free. Some of them are very
entertaining.
We will advertise your home until it is sold!
Most Realtors will do this one without too many
caveats. Most agents know that advertising rarely sells a home. A
very small percentage of people buy the home they originally called
on. The main purpose of advertising by a Realtor is not to sell your
house directly. Advertising generates phone calls and some of those
people become clients of the Realtor. Over time this builds up a
list of home buyers looking for property. Another reason Realtors
like to advertise is to get future listings. People thinking about
selling will usually interview agents that advertise heavily. So
when an agent tells you how much they plan to advertise your home
keep in mind that most of that advertising benefits the Realtor and
not your house.
We guarantee to save you $5,000 on your next home
purchase!
Most home sellers have a built in cushion in
their asking price. Here in Sarasota, Florida on the average a home
will sell for about 97% of list price. If I sell a home for $350,000
chances are that the home was listed for $360,000 - $365,000. In
this situation it would be pretty easy for the selling agent to say
he saved his buyer $10,000 - $15,000. Was the agent such a shrewd
negotiator that he got the seller to drop his price? Most likely
not. The seller probably just factored a 3-5% cushion into their
asking price.
In many instances, especially in hot markets,
homes sell at or above their asking price. Most Realtors who
advertise these guarantees either give you something small such as a
home warranty or a some other type of buyer credit if they do not
help you negotiate a lower price.
We will sell your home for 1% 2% or 3%!
This is another hook that Realtors use to attract
home sellers. Usually this 1% 2% or 3% is the listing agent's fee
for selling your home but it does not include any co-broke fees.
Depending on the market, sellers will list their
home anywhere from 5%-7%. What happens now is that the listing
agents goes to the Realtor community via the Multiple Listing
Service (MLS) and offers a co-broke fee (usually 3% or half of the
total commission). If the other agent brings the buyer he is paid
the co-broke fee. The majority of real estate transaction involve 2
Realtors. Therfore, the 6% total commission is split between the two
agents. Often times when an agent advertises 1% 2% or 3% they are
only advertising their fee but the commission goes up if you want
your house listed on the MLS. Most of the time it is crucial to have
your home listed on the MLS.
#1 Real Estate Agent!
#1 at what? Are they the absolute best Realtor in
the world? Have they sold the most real estate? Are they always the
biggest producer? Did they sell the most homes last week, last
month, last year?
I see Realtors throw this one around alot. Any
real estate agent can #1 at something on any given day. There are so
many statistics in this industry that it would be pretty hard not to
find an agent to be #1 at something. I think agents use this one
because it tends to grab people's attention more.
I think it is normal to see this type of
marketing in a highly competitive industry. I feel it is the nature
of the business and there is nothing wrong with it. Many successful
agents have used or are currently using these marketing ideas. When
looking to find an real estate remember not everything is as it
seems.