As the broker for ADDvantage® of Florida, I have the opportunity to speak with hundreds of Realtors each month throughout Florida, as well many of our flat fee MLS clients about contracts and situations involving difficult real estate questions.
I have first hand knowledge about the pros and cons of being a self-represented seller using our ‘traditional’ flat fee MLS listing plan (our $249 program) v. a client that is represented by me in our Professional ADDvantage™ $499 plus ½% at close ($699 min) flat fee listing plan.
Money is always the answer as to whether or not you should allow me to represent you. The question should be can I, as the broker for ADDvantage®, negotiate a better deal for you, both in terms of the amount of the sale and the ‘terms’ of the contract, then if you represent yourself?
Without any doubt, the answer is yes. This comment below is from a recent email that I received from an Professional ADDvantage™ client that I just successfully negotiated an additional $70,k in their contract. While this sale was in excess of $2,000,000, the savings are significant.
“Bill and I signed the new contract. Lee (the buyer's agent) was to e-mail to his client in Switzerland. They should arrive home today, review contract, sign and return with $500k deposit. Lee expects the ck by Thurs. I'll pray it comes by Fri. Once received he will issue the inspection.
Thanks for the extra $70k. Pray they mail the check.
Not sure if house should be pending prior to receipt of check. Your call.”
Some sellers believe that they save money by representing themselves and gain control but I see it as the complete opposite. In my opinion, sellers are often over-matched by Realtors that have extensive contract knowledge, are extremely aggressive and represent their buyers, not the seller. For all these reasons and many more, sellers should be represented by an agent/broker that is just as skilled at contract negotiations as the agent representing the buyer. The cost of the Professional ADDvantage™ plan is negligible as compared with the potential for loss due to entering into a contract that is not in your best interests. The are many unforeseen risks such as the buyer, their pre-qualification letter, closing costs, survey and who pays for it, commissions, inspection report and how to handle issues, keeping the deal closing on time and the contract language and associated addenda. For all this work, we receive a total of $499 plus ½% at close ($699 min). Professional ADDvantage™ is truly the best value in real estate today.