Buyer's Guide » How Realtors earn their commissions
How Realtors Earn Their Commissions
agents, like many other professional selling agents, have come
under criticism in recent years as to whether their commission
fees are warranted for the service they provide. Do they really
add value to a sale, or would homeowners be better off selling
their homes on their own?
a home is complex. It requires the expertise of a professional
who understands the real estate industry and can follow through
with an aggressive marketing plan to sell your home for its
maximum value. Your REALTOR® can develop a comprehensive marketing
plan that far exceeds anything you can create on your own. The
Multiple Listing Service (MLS®) enables maximum exposure
to buyers and their agents across Greater Vancouver and around
North America. " The Realtor's access to MLS® is a
key research tool that allows homeowners a competitive edge
when selling their house,"says Dick Coates, Real Estate
Board of Greater Vancouver president.
value-added services your REALTOR® can provide include: open
houses, agent tours, targeted newspaper listings, direct mail
pieces, lawn signs, advertising on web sites, and other marketing
activities. Besides covering the expenses of these marketing
activities, your REALTOR® must share the commission fee with
the real estate agency for which he or she works as well as
the buyer's Realtor, if there is one.
the price of your home is critical. It requires extensive knowledge,
training and access to the latest market information. Are you
really aware of the value of your house in today's changing
market? Can you risk pricing your home too high and discouraging
potential buyers - or pricing it too low and losing some of
your equity? Your REALTOR® will prepare a Comparative Market
Analysis (CMA) using advanced research tools to determine a
competitive price for your home.
are experienced negotiators. Ask yourself: Are you able to make
a follow up call with a potential buyer without placing yourself
in a poor bargaining position? Realtors are skilled in arranging
financing and closing deals; they provide undivided loyalty
in protecting their client's negotiating position at all
your REALTOR® as your real estate consultant, implementing marketing
initiatives, advising you on market conditions and preparing
your legal documents when drawing up a legally binding contract.
Simply put, a Realtor's professional skills and networking
connections can be indispensable in attracting serious, qualified
buyers. The value-added service they provide when selling a
home is well worth their commission fee.