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Facts for why you should
use a N-C-R realtor: |
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According to NAR (National Association of Realtors), in 2004 65% of all home buyers used the Internet for their home purchase.
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First time Home buyers make up 40% of all buyers. Statistics show that first-time buyers are afraid of Fizzbos and advertising companies such as Buyowner.
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Relocation - 14% of home buyers are relocating (more than 10 miles). These buyers don’t have time to work with multiple individuals. They want one representative or as they indicated in the NAR survey they want to deal with “One Face”.
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Frequently Asked
QUESTIONS
1) How is No Commission Realty able to charge one low fee (only $2000) when other companies are charging $18,000 (average commission in Florida)?
N-C-R focuses on volume. The average real estate agent working for the traditional real estate company closes 10 transactions per year. The average real estate agent working for N-C-R closes 125 transactions per year. Our industry leading marketing concept allows our agents to spend 90% of their time working with customers. Agents with the traditional real estate companies spend 90% of their time marketing their services and only 10% of their time actually working with customers.
In addition our concept and structure allows for twice the number of referrals and repeat customers as the traditional real estate companies.
2) How does No Commission Realty differ from For Sale By Owner concepts?
Companies such as BuyOwner, Owners.com, and ForSaleByOwner are advertising companies. Highway billboards, television commercials, and magazines are the 3 most common mediums used to drive traffic to their website.
There are NO agents. These companies use Real Estate Marketing Consultants/Advertising Sales Representatives. Most of the time, these individuals are independent representatives who are on a straight commission basis. The consultants offer suggestions on how to properly choose advertising options to help emphasize the aspects of the home.
Some people believe that by not using a real estate agent they will save money by AVOIDING the commission. However, according to the National Association of Realtors (NAR) 86% of all buyers used a real estate agent for their home search. Real estate agents use the Multiple Listing Service (MLS) to search for available home for their buyers. If your home is not in the MLS database it will not be shown.
3) Why do I need a realtor?
- Selling on your own is not the answer for all sellers. It takes more energy and commitment on your part than if you were to list with an agent.
- You will need to show your home at the buyer's convenience. This means at all hours of the day.
- You will need to pay for advertising so that potential buyers know your house is available.
- You will have to perform considerable research to know how to price your house.
- You will need to find and hire a good real estate attorney to tell you what things by law have to be disclosed to the buyer prior to a sale, look over any contracts, and ensure you do not inadvertently discriminate against potential buyers.
- You will have to negotiate directly with buyers, and with buyers' agents. You will need to find an escrow company to administer the closing.
- Be prepared to give up private time on weekends and evenings to show your house.
- You will need to provide the legal disclosures required in your jurisdiction.
- Be prepared to do your own research about the market and the sales process
- In short, selling on your own is not simple.
4) Is it legal for No Commission Realty to provide a CASH rebate to the buyer at closing?
Sharing part of a commission with, or discounting a commission to, an unlicensed buyer who is buying for himself or herself or an unlicensed seller who is selling his or her own property is legal, according to 61J2-10.028, provided full disclosure is made to all interested parties. However, sharing part of a commission with, or discounting a commission to, any unlicensed person who is not a party to the transaction is illegal. A licensee (agent or broker) is in violation of F.S. 475 even by promising any form of compensation to an unlicensed person as an inducement to have the unlicensed person send referrals to the licensee.
5) How does No Commission Realty differ from discount realty companies such as Assist-to-Sell and Help-You-Sell?
These companies offer sellers a "menu" of services. Typically they charge a flat fee of about $2,950 to advertise a home for sale, provide yard signs, offer advice on the offering price, negotiate with potential buyers and guide the sale through closing. Under the plan, the sellers of the home, rather than an agent show the property to prospective buyers. For an additional fee (approximately $2,950), agents will show the home.
Most of the discounters are simply listing companies. They don't actively work with buyers.
When working with buyers most offices don't offer any rebates, etc.
6) How many weeks will my home be on the market?
In 2004, the typical home sold in 5 weeks. Half of all homes sold within one month, and two thirds sold within two months. This is a much quicker time frame than homes sold that were not listed with real estate companies.
7) How much should I offer the seller?
In 2004, the typical home sold for 98% of the original list price. In fact, 11% of home sellers sold their home for more than the list price.
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