There Are No Shortcuts.

Bill Uncategorized 0 Comments

Greedy Seller

I just finished reading an article regarding the latest revelation in discount real estate brokerage, Surefield. A fresh startup initiated by a Redfin refugee (seems to be a lot of those) and some others that are good with computers. Read almost all about Surefield here: 

I wrote the following comment on the Seattle Bubble blog in response to the interview:

What Surefield did not disclose in your interview is that their listings offer a mere $2,000 to the broker that sells their listings. If sellers think that a video tour outweighs the value of a respectable selling office commission, they will be disappointed. If self-respecting agents bother to show Surefield’s listings it will be for the purpose of un-selling their prospective buyers, not selling the property.

Co-operative brokerage is what supports property values and allows seller’s to maximize their net proceeds upon the closing of a sale. Surefield, like Redfin, like all commission discounters, is not interested in co-operative brokerage wherein fees are shared equally between listing and selling brokers. Such entities seek to reinvent the wheel by resorting to gimmickry which sounds great to sellers at the outset, but ultimately ends up a disservice to those sellers and to value of the communities in which they reside.

Fully 30% of real estate sales today fail. Why? Primarily due to the ineptitude of inexperienced, untrained and/ or part-time brokers. Currently our market is fraught with such licensees. These are brokers desperate enough to pander after a $2,000 commission. Is it wise to believe these are the brokers best suited to bring the best, most qualified buyers to a property, to put the deal together and keep it together?

Beware the shortcut. Get solid referrals from solid people that you know and trust. There are no shortcuts to doing any job properly.

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