Be Very Wary of Online Real Estate Discount Shops
Real estate, conducted on-line, is on the rise. This is not good. Companies like Zillow, Redfin and Purple bricks purport to offer fantastic deals for buyers and sellers in California. These discount shops advertise their good points but fail to mention the glaring downsides of their product and business model.
Unfortunately homeowners are finding out how online discount shops try to take the realtor out of real estate when in fact realtors are needed in today’s market now more than ever. I conducted several searches at the Better Business Bureau and Consumer Affairs websites and they were full of complaints of unhappy sellers. Many of the complaints are mentioned below but to gather even more facts about these on-line companies, you can contact me at [email protected]
They will charge a home owner a nonrefundable fee of many thousands of dollars. You pay this fee upfront whether your home sells or not. Agents that bring a buyer are normally paid a 2.5% commission. These companies also average online sales 7-9% below the market price of the area. In California you know how much money that totals!
These companies want quick demonstrable stats to use in their advertising and to show they get results. The also add a service fee up to 9% of the purchase price than an owner may not see till the final net proceeds sheet. Owners are losing money with hidden fees and lower home sales prices.
Allow me to further add that these on line companies use rookie agents that don’t know how to write an offer or haven’t had any training at all. You will work multiple agents who have minimal excitement and training and are doing the minimum for you as they are paid so little. There is a lot of delicate paperwork in real estate that sellers are left to navigate through themselves. Signs, flyers, websites, photos and open houses are all key to selling homes at market prices. They will ask you to do all of these activities because won’t do them or they will charge for those services.
You’re trying to save a few dollars but what actually happens is you lose lots of money and you have no assistance and guidance in selling your home. I could go on and on about these companies but if you reach out to teigerhomes.com I can be a wonderful resource for your real estate needs. There is no secret formula to real estate. Its hard work, targeted advertising and current market pricing that sells your home.