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SELLER'S BEWARE
Have you seen the following advertisement?
Maximum 2.5% Commission*
*Paid to Selling Broker
Basically, the agent advertising in this manner is trying to make it look like he is charging less commission which lures you ("the homeowner") to call.
For most MLS listings, the Selling Broker commission is the traditional 2.5%. The total fee payable by the homeowner is 5% (plus G.S.T.); which is split in half by both brokers. (Selling Broker and the Listing Broker) Most homes reported sold on Toronto MLS have two (2) agents involved in each transaction.
So you can see how the agent is only advertising part of the total fee and trying to mislead you to think that by using them to sell your home, they are cheaper. Once you call them, they tend to use high pressure tactics to get your real estate business.
Here's more tactics used by some agents.
Buy this home from me and
I'll buy yours for cash $$
This is a great marketing ploy. It is designed to make you think that the agent will buy your home when you buy one of their listings. There will come conditions like allowing the agent time to sell the home before they have to close the deal with you. Therefore, guaranteeing themselves another listing. And at what price will they pay for your home? Usually lower than what you want to sell for. In actuality, they really won't be buying your home, they will just be using high pressure tactics to get you, the homeowner to sell your home before they have to buy it. Therefore, can you be confident that the agent that advertises in this manner will be putting an honest effort to getting you the Seller - Top Dollar for your home? So really they have no intention of buying your home whatsoever, just securing themselves another listing.
If I can't SELL it, I'll BUY it !
Another ploy where the agent guarantees the sale of your home by stating to buy it. But again at what price? Again one of the conditions will be to have time to sell it before they have to close the transaction with you. They will use high pressure tactics to get you to price the property for a quick sale.
Do you really believe that this agent will be working hard to get top dollar for your home. Once again, the agent is trying to secure themselves a saleable listing.
If not SOLD in 30 days, commission is FREE !
This advertising technique tries to get your home listed and later using high pressure tactics, are used to sell your home quickly. If you don't agree with the agent's pricing of your home and want to try for more money, they simply won't guarantee to sell your home in that time frame.
Therefore, the commission is never free.
In conclusion…
Agents are NOT in the business of buying homes or giving out commissions for FREE.
These are all just tactics that some agents use to get you ("the homeowner") to call.
If you are thinking of making a move,Call me for an honest assessment of the current value of your home andto find out how to truly save money on commissions and sell your home for top dollar.
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Next Page - My Declaration to Sellers
