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Always beware, be careful, and ask questions to the discount brokerage companies. Generally, you get what you pay for. Discount brokers play on the fact that if they reduce their commission so low, or offer you an unusual low initial commission, you will not be able to refuse to list with them no matter what services they provide. Let’s face it, if you could buy a brand new full size car for $1000.00, you’d certainly be interested in that, but you would make sure that it had an engine in it and that it would drive. You don’t get that chance when you sign a contract with the “Discount Broker”. That’s why, ask questions. You may not get MLS service…there’s not enough money to pay the cooperating Brokers that would like to show your property. You may not even get the service or showings from other agents in the discount broker’s office…not enough money to pay other agents. So, you may end up with only 1 agent procuring a buyer for you (the listing agent) as opposed to an entire office of agents and over 40,000 real estate agents in the MLS. Don’t be surprised if you get promised to have your property advertised every week, and that doesn’t happen. Don’t also be surprised, if the discount broker calls you after a period of time that your property has not sold, and says, “I think we need to raise the commission and lower your price and offer your listing to other agents and to the agents in the MLS”. Don’ also be surprised, if your listing agent will take virtually nothing and pay the cooperating brokers, and you end up doing all the work. We have seen and heard all of the horror stories. Ask all these questions to the discount broker and most important ask for a list of names and phone numbers of sellers that have successfully sold and closed their property under their discounted plan. Call me or email me directly anytime… I’ll give you more information and tell you about Failla Realty, Inc. Realtors, a company proudly serving the entire area for 28 years.
Ross J. Failla, Broker Ross@FaillaRealty.com 708-785-6999
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