The Service Costs of Hiring a Discount Broker

What are you risking in service by hiring a discount broker? Let’s take a look.

 

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When you get a dress or TV at a discount and walk out of the store, you know you’ve gotten a good deal. In the service industry, it is a little tougher to define what that discount is going to actually cost you. When it comes to real estate, here are a few things a discount broker won’t be able to offer if you hire them to sell your home:

 

1. Infrastructure. Real estate agents have to have a network of other agents, teams, and even relocation companies so that when you move into and out of our markets, they can get referrals. This helps add value to you when we help list or buy your home.

 

2. Online presence. When it comes to attracting buyers, discount brokers don’t have access to the same number of websites a full-service agent does. Since the home buying process has started online for years now, the amount of money we spend to attract buyers to our sites is crucial in exposing your home to as many people as possible.

 

If a broker doesn’t have team members nurturing future buyers, you miss your chance of selling your home to them.

 

3. Someone managing databases. Active databases are full of potential buyers from website referrals and call-ins from signs around the community. If a broker doesn’t have team members nurturing these future buyers, you miss your chance of selling your home to them.

 

4. Mastery. In Malcolm Gladwell’s book “Outliers,” he says that it takes 10,000 hours to obtain mastery in any profession. This is 10 years. The average career for a real estate agent is only about 18 months, which means that most agents have not reached the mastery level. Even those who have been in the business long enough may not be at this level yet, due to insufficient experience. This is part of the reason we are so proud to have sold over 10,000 homes in the Triangle area.

 

The bottom line is this: Your home is your biggest asset. When you give that home to somebody to sell, you want to make sure that the agent is all in and has your best interest at heart. You don’t want someone just looking for a paycheck.

 

If you have any questions or are interested in buying or selling, please feel free to contact me. I look forward to speaking with you soon.

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