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June 2, 2009
Co-Exclusive Brokers
Hello!
Am selling my house and my contract is about to expire with my current broker. They have done a good job. We got a few low offers and nothing else materialized(I blame the market)
Anyway -I would like to keep my current broker as they have spent time working on my house and know the details, however are there advantages to bringing another realty in to work the house as well? I figure there would be many more agents showing the house and getting more exposure?
What are some of your thoughts/experiences with regards to working with co-exclusive agencies
Thanks in advance!
Comments
It worked well for us to expand to two brokers after our contract expired with no offers in the contract period.
Shortly after expanding each broker came through with qualified buyers. The competing buyers drove the price up and the the competing brokers drove the commission down.
I think it motivates the management of the of the brokerages to make sure a property is shown often when they are competing with another agency. When they have an exclusive listing the management expects to get the commission in any case.
Not claiming any inside knowledge here, just a tiny bit of experience.
Assumedly you got a discount on the commission for going exclusive in the first place... May be able to extend that with incumbent broker and to the new one as well. Tricky but possible.
Posted by: phripley at June 2, 2009 2:52 PM
Whatever rocks your boat. They are all a bunch of bloodsucking parasites to me. If you bought within the last 5 years and expect to make a profit good luck with that. But if I can give you some free advice get a young unknown broker that is just getting into the business. If you are using the older brokers they don't want to admit that they were the ones that created the housing bubble and therefor continue their old bad practices. Also many of the older-to the business not age-wise of course, real estate brokers bought and own houses bought during the bubble and are now stuck with them at over inflated prices. They are not going to work their buns off to sell you home when they have their own problem to deal with.
Posted by: hannible at June 2, 2009 5:22 PM
Hannible - that makes no sense at all.
Posted by: Putnamdenizen at June 2, 2009 6:17 PM
Does the current housing market make any sense to you Putnam?
Posted by: hannible at June 2, 2009 9:13 PM
Here we go again, another off base, paranoid rant from that guy. Blaming brokers for the housing crisis is as ridiculous as blaming the manager at your local BP station for high price of gas. Anyone with a basic high school education or that can grasp the concept of markets should know this.
Bkincaid: If you had a good broker that held open houses, WAS WILLING TO CO-BROKE and made that known, did the proper advertising - where anyone that was looking for a house like yours should've known about it then as you said, it's up to the market. The market sets prices, not brokers, not sellers or buyers. The last 6 months have been the most traumatic in the history of US Real Estate so pay attention to what you CAN control: Take your house off the market for 2-4 weeks after the listing expires. Get fresh comps, go to open houses, see what similar listings have sold for recently, if you want/have to sell in this market, your house has to be priced for it. Is your house properly staged for open houses? Clean, bright, emphasizing space, no odors, toys, pets, family photos, clutter. Are minor upgrades; esp. to the kitchen/bathroom needed - you'd be surprised what new appliances or fresh grouting/painting can do. Do interview other brokers but unless you have a unique multi-million mansion, it's probably not worth risking 2 brokers working half as hard as opposed to one good one. You always have the FSBO and open listing options.
Posted by: Crownlfc at June 3, 2009 1:44 AM
Good thing the government changed standards for both real estate brokers and lenders and appraisers. You should watch"House of Cards" on CNBC it might educate you. Drug dealers say it is not their fault iether that people use drugs, they just supply them to whoever wants to buy them! You must be a broker and feel the guilt Crownlfc.
Posted by: hannible at June 3, 2009 6:15 AM
hannible, get a life.
Posted by: daveinbedstuy at June 3, 2009 8:55 AM
Wow, and I thought the What was the biggest idiot on this site. OK, he still is, but he has competition.
Sound advice from Crownlfc. The broker should be willing to compromise a bit on commission for the exclusive. That aside, one good broker will do the job. Good luck!
Posted by: Johnny at June 3, 2009 11:29 AM
"We got a few low offers and nothing else materialized"
You will regret not accepting them (or maybe they were below the water surface). It has nothing to do with the broker. Tough love.
***Bid half off peak comps***
Posted by: Brownstones Half Off at June 3, 2009 5:06 PM
FEMA typically provides disaster aid for 18 months. It extended assistance for 45 months since Katrina hit in August 2005.
About 1,150 families in FEMA housing live in units the agency classifies as mobile homes and park models, which will be offered for sale at $5 and $1, respectively. FEMA expects to free up an additional 600 to 700 units from its inventory to donate through state and local governments and nonprofit groups, the administration official said. Individuals who previously bought units will be offered refunds.
Dave the is a home waiting for you in Louisiana. Bon Voyage!PS take Crownlfc with you.
Posted by: hannible at June 3, 2009 5:13 PM
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