Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago on . Most recent reply

User Stats

707
Posts
269
Votes
Jason Merchey
  • Investor
  • Hendersonville, NC
269
Votes |
707
Posts

Discount Listing?

Jason Merchey
  • Investor
  • Hendersonville, NC
Posted

What do you think about going with one of those discount brokerages - where you pay for the MLS listing but that's about it? On the one hand it seems wise if your market is strong and your house is desirable and you can feel comfortable that you and the attorney are all that are necessary to take it from contract to close. On the other hand, I have heard that other Realtors resent that and will steer their qualified buyers away from it. And if you don't have another good method of contacting buyers directly (e.g., ads, internet postings, signs, networking, etc.) then you might just hear crickets chirping instead of the sound of coins clinking in your little jar.

Part of me thinks that as I am building a spec house, I should wait until about a month before completion and then start to advertise it myself as a FSBO, offering 3% to a Realtor to bring a buyer. Then obviously if this is just totally failing, I would list with a Realtor about a month later. However, perhaps there is that interim idea of putting a MLS listing up for what, $1000, and saving about 3%? But if that is going to backfire I don't want to do that. Maybe a listing only for $1,000 and an additional 1% to the buyer's agent - that still saves approximately $7,500, and might get the agent to forget about any concern they had that I was hurting the real estate profession, because, hey, money talks.

Most Popular Reply

User Stats

68
Posts
22
Votes
Shannon M.
  • Involved In Real Estate
  • Columbus , OH
22
Votes |
68
Posts
Shannon M.
  • Involved In Real Estate
  • Columbus , OH
Replied

Disclaimer: I am an agent that works with several active investors besides my own investments.

Like most things in life "it depends" If you have an average residential agent that is not used to working with investors then I am not sure how much better than the discount or flat rate route they are.

However, if you can find a great agent he or she will become a member of your team and will be worth every penny to your business. A great agent for an investor is not necessarily the team with the biggest advertising budget. For an investor the best agent will be the one that totally understands your criteria and style, that instinctively knows if a deal is worth bringing to you and understands how important a short time on market is to your profit margin.

This agent is not always easy to find. You are looking not only for a certain skill set but also, to some degree, a personality match.

Sometimes trial and error is the only way to find this component of your business.

Best of luck.

Loading replies...