Discount real estate brokers have been making waves in the real estate industry for quite some time now. Nobody wants to admit that certain brokers are willing to accept commissions at a standard fee. They want you to believe that all fees are negotiable, but it really isn’t the case when it comes to discount brokers of this nature.
In truth, there are certain real estate agents selling Seattle penthouses and other properties that are willing to give a kickback to property buyers in an effort to gain their business. This is unfair to the buyer’s agent because many of these cunning buyers do not ask for a kickback until the agent has already put in numerous hours of work on their behalf and it’s just not right.
As a real estate seller, it’s quite obvious that you’d be drawn in by the allure of cheaper real estate commissions. When you sell your house, you’ll get a bigger piece of the pie this way. As a buyer, getting a cut of a real estate agent’s commissions is also appealing because it keeps more cash in your pocket at the end of the day.
With that said, there are definitely serious downsides and disadvantages to choosing discount real estate brokers. We’ll tell you all about them in greater detail below.
Disadvantage #1: You May Be Required to Show Potential Buyers Your Home
When you work with a traditional broker, you’ll never have to show potential buyers your home. In fact, most real estate agents want homeowners to completely vacate the premises while they show the property. They do not want buyers asking the seller unexpected questions they aren’t prepared to answer.
Dealing with discount real estate brokers is an entirely different ball of wax. Since these real estate agents are only making a tiny commission compared to traditional brokers, they are not always capable or willing to show your property every time a potential buyer expresses an interest. They may suddenly call you out of nowhere and ask you to show the property to the potential buyer.
When you think about it, you’re literally doing the real estate agent’s work, so why would you hire them in the first place? It just doesn’t make any sense. In this scenario, you’d be better off selling your house yourself. Or if you’re smart, you’ll enter a contract with a qualified real estate agent, pay them their full commission, and receive top-notch, impeccable service from an agent that you can trust.
Disadvantage #2: You May Be Responsible to Advertise Your Property
Sellers need to seriously consider any agreement they make with discount real estate brokers. Look over your contract with a fine tooth comb because you may end up finding clauses you don’t really agree with.
As an example, by signing with a discount real estate agent, you may end up having to pay for some of the advertising. Since these agents are accepting a lower commission, they aren’t always willing to shell out their hard-earned money to pay to advertise your property.
Think about that for a moment. If no one is advertising your property, nobody is going to request a showing. They won’t even know your property is on the market. You’ll figuratively be cutting yourself off at the knees by alienating a large amount of potential buyers. That’s not a good strategy if you’re planning to sell your house any time soon.
Discount real estate brokers are a dime a dozen. Sure, they offer cheap commissions, but are their “services” really worth it? Many feel they aren’t because you have to pay for advertising, show the property yourself, and miss out on all of the conveniences you’d typically get with a traditional real estate agent.
Instead, when searching for Seattle penthouses, stick with real estate professionals providing full services like staging, professional photos, hosting open houses, etc. You’ll sleep much better at night knowing your home is the hands of an expert, not some fly by night real estate scheme looking to take as much as they can for doing as little work possible.