Myth - Negotiate the Realtor's Commission to net more profit.
Myth - Negotiate the Realtor's Commission to net more profit. Is that true?
Think about this. You have a realtor who's going to go to your home to present how they can get you the highest and the best offer for your beautiful property. And the first thing that they negotiate is the reduction in their Commission.
Now think about this. If they can't get their own Commission of the 3%, what makes you think that they're going to be able to guarantee you a great negotiation to get you that highest and best price.
Now think about this. I'm going to talk about the listing agent side. Okay, so this realtor comes to your house, gives you a discount Commission. Do you think they are discounting their Commission? No, they are not discounting their Commission.
What happens when you pay your agent, realtor, the Commission. They spend a lot of money on marketing. So it's not like all the money comes to our bank account. So we spend a lot of money for you to get to the highest and the best price.
A lot of marketing. They cut their marketing. They don't do any marketing. So they're still getting their money, cutting your marketing budget and showing you that they are doing your favor, not taking the full Commission. How is that going to help you? Think about that? Besides what we said about the negotiation, now there's no negotiation, no marketing.
So let's talk about the buyer side. When you're offering less Commission to the buyer's agent in Florida, we all know the person who's selling the home is the person who offers Commission to the buyer's side, too. If there are two houses in your neighborhood, one is offering 2.5%, the other one is offering 3%. Who do you think that your buyer's agent is going to take his qualified buyers to go to?
The one that he's making more money. That is no brainer, right? Simple words..... it translates to less money, less showing, less showing no competition. Which means how are we going to get to the highest, best price for your property?
Hopefully this information is going to help you make the right decision to pick the right realtor.