When speaking with buyer’s agents as a flat fee listed seller, be respectful of them but at the same time do not take any crap from them either. If they are disrespectful throw them out of your home! If they attempt to bully or pressure you into a deal that is not at your terms smile and act like they are a child trying to get you to take them to a movie. Pressure is something to pass onto someone else but not absorb.
I can tell you what drives a buyer’s agent crazy is calling them for feedback or following them around the home when they are showing it to their buyers. That hate both. They want no one around when showing the home. Agents and buyers know what they are looking at. They want to speak freely to one another about the home comparing it to others. They do not want you to hear what they are saying.
As far as feedback goes there is nothing you can say to get an offer. A professional negotiator will never call a buyer’s agent and ask if they are presenting an offer UNLESS there is another offer on the table and then we do want that buyer’s agent to know that. That is correct, professional and helps the seller.
Our company does get feedback for our sellers at Altru Realty. But, self rep sellers (flat fee) should stay coy and act like they could care less about an offer coming. That is the professional way! Asking for feedback or asking whether an offer is coming is somewhat weak and in my opinion a counter by the seller. In other works you are desperate!
I have an expression, pass the pressure not the power. As a professional negotiator, I have many techniques but overall never allow anyone to pressure you because as a seller you have all the power. The listing agent has the next power level, then the buyer and lastly the buyer’s agent.
An example of this pressure is the drop-dead-date in an offer. All offers have a date on page one of the contract that states “if you don’t counter or accept this offer by 5:00 pm on x/x/x (date) this offer will be withdrawn. Well, 99% of all offers are DOA meaning too low so who cares if a low offer expires? I never do and this is a prime example of how a buyer’s agent will attempt to control you into a fast counter or they will threaten to withdraw their offer. Buyers never walk from a deal, they circle. This is a fake date and fake pressure. But, buyer’s agents and listing agents use the drop dead date as an effective tool to get a seller to counter. Countering is passing the power to a buyer’s agent. Maybe not a great idea. Read my book about this coming out late 2018 The Real Estate Sandbox.”
To learn more about flat fee MLS through GetMoreOffers.com or Altru Realty where we negotiate for you for just 1.5% at close, please visit our websites or call us 877 -232-9695.
Some sellers have concerns that traditional agents boycott limited service listings by not showing them. There are a few ways that a Realtor® can tell that you are flat fee listed:
- When a listing is entered into the MLS, the broker must choose a classification to designate the level of service given to the seller. Most “flat fee” listings fall into the category of “Exclusive Agency-Limited Service” or just “Limited Service.” The reason this classification is different from “Exclusive Right of Sale” is that the flat fee MLS listing company does not typically represent the seller with regard to contract negotiations and the seller may sell to an unrepresented buyer and pay no commission fees at closing.
- It is usually the case that the seller takes phone calls directly for showings in a limited service agreement. The language in the MLS for Realtors® to “contact seller directly at…” can be a giveaway that the seller is flat fee listed.
GetMoreOffers.com, Florida’s largest and most trusted flat fee MLS listing company (now also available in New York) has sold over $1 billion in real estate since we started offering flat fee MLS to Florida consumers in 2005. So, the success of our sales proves that Realtors® do not boycott flat fee listings.
Do not believe buyers’ agents if they tell you that 2% or 2.5% commission will never work either. I have been a Florida real estate broker for 34 years and have worked in the flat fee MLS trenches for 13 years. I have seen commission offerings of as low as 1.5% actually work to sell houses in highly cosmopolitan cities. I have spoken to hostile Realtors®, grumpy Realtors® and happy Realtors® and I can say this without a doubt in my mind: agents want to earn a living just like everyone else and selling homes is what pays their bills. Whether the listing is limited service-flat fee MLS or a traditional-full service listing makes no difference. The money is green and spends the same. It is that simple!
The other very important thing to remember is that it is the buyers (and their perception of your price) that actually dictate whether you get showings or offers, not the listing type or commission. It’s the information age and buyers have access to the same listing data as the agents. So it’s impossible for a buyer’s agent to avoid showing a home to their buyer when the buyer is almost always driving the showings. In most cases, they become aware of the listing before their agent does!
Knowing that buyers’ agents have no control over the sale should give you more confidence about your flat fee listing. What many don’t realize is that there are really only two or three players in a real estate transaction that call the shots—and the buyer’s agent is not one of them. The buyer is the most powerful player because they have the money. A buyer is smart…and they are “perfect,” meaning they can do no wrong because without them, no sale happens. The seller is next in the power hierarchy, followed lastly by the listing agent (if they represent the seller; flat fee or self-rep sellers represent themselves).
This is my advice about selling a home using flat fee MLS: do not concern yourself with the chatter you may hear from Realtors® saying they won’t show your home if you don’t list with a traditional 6% agent or offer a 3% commission. Both are false statements and both are an ethics violations to boot.
Should you happen to come across a buyer’s agent who tells you that they will not show a property that they know to be flat fee listed, ignore them and move on. Sometimes agents will simply say this in hopes that you will be scared into listing your home with them.
If you wish to be listed in the MLS with an Exclusive Right of Sale listing agreement rather than Exclusive Agency/Limited Service so that your listing will appear identical to other full service listings, another option is to list with a discounted full contract representation program such as our Platinum level with Altru® Realty. Altru offers many other valuable benefits to sellers with the strongest contract negotiators in the real estate industry for just 1.5%. ALTRU® Certified Negotiators have one goal: to net you the most on your sale and with the best terms possible. To find out more, check out my videos detailing topics such as Home Selling Pricing Strategies, Biggest Real Estate Misnomer, Proving the Value of Your Home…and more by going to: http://altrurealty.com/Videos.aspx.
For more information and to sign up for one of our Flat Fee MLS Programs, contact Getmoreoffers.com at 1-877-232-9695.
A year for the records for everything but real estate. 2017 was pretty much in slow motion. New listings were few and buyers were picky to boot. I truly knew what 2017 was going to be like from the slow election-dominated news of late 2016. 2016 finished weak and there was absolutely not a single sign that 2017 would be anything but a repeat of 2016 with a bad attitude. I literally said in early January of 2017 that we had a bunch of work ahead of us and no real market gains. I was 100% correct! So what we did was to ignore the dogma of 2017 and focus on our many unique real estate brands and our new start-ups.
Knowing this, we forged forward and focused our resources on new products and getting ready for 2018. At GetMoreOffers, we made the best of it adding a few new key people to our already professional staff adding a highly talented digital marketing professional and laid the ground work for GetMoreOffers Generation II which we expect to be rolled out late 2018.
We also have decided to offer a free flat fee MLS listing in the Florida market. This new program should be released by February 2018 replacing the MLS Express plan.
Going back to real estate, the Florida market was mixed with some small gains in some cities and loses in others, like Miami. It was a tug-of-war between buyers and sellers with buyers ending up with a stronger position. It was all about price. Colorado remained super-strong.
GMO 2018 Real Estate Forecast
The future is bright for general real estate in 2018. GetMoreOffers is going to help sellers get their property listed faster and cheaper than ever before. Getmoreoffers.com is well-known all over Florida as the most reliable flat fee MLS listing service and now we will continue to forge the discount real estate market. Stay tuned for our next plan to be released in February.
Expect a brisk pace to real estate in 2018 as compared with the snail-like malaise that dominated 2017. A high consumer confidence in combination with aggressive lending will be the main driving forces for 2018. I see no political road blocks but a few bumps along the way to a more positive market tone and direction. The labor market should continue to tighten and drive more job transfers. This all spells out a clear path to more listings hitting the market. I believe looking back at 2018 we will say it was a year dominated by making a move now for my family and not waiting.
Regardless of the offered buyer’s agent commission or compensation, that agent will protect their buyer’s best interest and show the home. We recommend paying 2.5% commission to the buyer’s agent. The buyer’s agent may say the discounted real estate commission is too low or try to dissuade the buyer because the listing type is FSBO or limited service listing.
Always remember that, no matter what, the home will be shown. If by some odd chance the buyer’s agent attempts to not show a flat fee MLS listed home, the buyer will not stop until they find an agent that will.
It doesn’t matter that the buyer’s agent requires 3%, what matters is that homes sell homes, not commissions and not the listing type. What I mean by this is a seller or listing agent can offer 5% commission to a buyer’s agent but if that home is over-priced nothing will happen. You can throw on a $10,000 agent bonus and nothing will happen. Buyers run the show and they really don’t care about commissions or flat fee MLS listing type. They want the home that they like! And, they want relevantly priced homes. Not homes that are 6-10% over the market.
Florida Flat Fee MLS listing service agreements…read the fine print or be held hostage!
Do Florida FSBO sellers really know what they are signing before they list their homes using a Florida flat fee MLS listing service that may not really be a Florida based company? Where are your buyer-leads going from Internet marketing such as Realtor.com, Homes.com and other websites that the flat rate MLS service receives? Is your flat fee MLS broker entering your listing in your correct Florida local Board of Realtors? What penalties and contract terms is a seller being held to if they cancel the listing and go full service or with another flat fee MLS listing company?
Did you know that the Florida MLS listing service charges a $500 penalty to cancel an MLS listing with them? A flat rate MLS listing isn’t a bank CD so why would do that? The answer is obvious if you are aware of their business practice with regard to buyer leads. Unlike GetMoreOffers.com, takes all buyer leads for themselves. So if you cancel your listing, they lose a valuable stream of leads which is bad for them and hence, the cancellation fee. Also, if you end up listing through another real estate company, gets a 25% commission referral fee from the new real estate company if the home is sold within 6 months. The bottom line is they own at least a piece of you for 6 months. Some even charge a hidden commission.
Flat rate MLS Buyer Leads…where do they go?
So, if a Florida flat fee MLS listing service collects all of your buyer leads from Realtor.com, other internet sources and yard sign inquiries to then work them as their own buyer leads and earn the offered commission, how does a Florida seller listed via a flat rate broker find an unrepresented buyer to sell their flat fee listed home? They likely won’t unless they find the buyer through a friend or other unlikely source. This seems to totally contradict the point of doing a flat rate MLS listing in the first place since one of the biggest advantages is to give sellers the opportunity to sell without paying a commission at all. The worst part is many flat rate or discount MLS companies like don’t disclose how they deal with buyer leads in their listing agreement…so unless a seller calls them to ask that question ahead of time, they may be very unpleasantly surprised after initiating the flat fee MLS listing. At that point, it’s too late and they are held to either a hefty cancellation fee or to stay with an MLS company who doesn’t hand over their leads.
At GetMoreOffers.com®, the seller is in full control of their Florida flat fee MLS listing and can cancel at any time with NO PENALTIES WHATSOEVER. Also, all buyer leads go to the seller—and we put that in writing. View our Listing Agreements
What about those Florida websites offering a FREE Florida flat fee MLS listing? Where do the buyer leads go? Possibly to the flat rate MLS company’s mortgage operation to pre-qualify these leads and then move them to affiliated or in-house REALTORS® that in turn may or may not try to sell your home and take the offered commission.
Florida flat fee MLS sellers that list with GetMoreOffers.com® get all buyer leads via GetMoreOffers.com® buyer lead capture system…guaranteed. If you have any doubt, call us on one of our flat fee listings and see if we advise you to contact the seller directly!
At GetMoreOffers.com®, a flat rate MLS listing means the seller is a “hybrid” For Sale By Owner, meaning that they are gaining the exposure of being in the correct local Florida MLS while retaining the right to sell their Florida MLS property themselves and thus avoid paying the buyer’s agent commission offered in the Florida MLS. This is called an Exclusive Agency or a Limited Service Listing Agreement. This means the Florida MLS seller is advertising in the Florida MLS so that REALTORS® will bring buyers and work for the offered buyer’s agent commission as stated in the Florida MLS. At the same time, the seller still has the right to sell the Florida property without an agent involved and pay no commission.
In a nut shell, many flat rate MLS services that advertise they are a Florida based company are a sham. They either don’t pass on buyer leads to their sellers or they offer little or poor phone support or they use your Florida FSBO as bait to attract buyer leads through the Internet (Realtor.com, etc.) and then use these buyers to suit their own needs.
Even worse, they could enter your listing is some random MLS board outside the state of Florida which does a seller no good. Their home will not show up to the local Realtors.
Our Florida flat fee MLS listing agreement is a bit lengthy but, the language is clear and says what the Florida flat fee MLS seller will receive from A-Z. It references the 8:30am-7:00pm 5 days a week (Sat till 5:00 and Sunday till 4:00 pm) live phone support and the fact that all buyer leads go directly to the seller. We’re not afraid to say it because we stand by it 100%.
What GetMoreOffers.com® offers Florida sellers is a true Florida flat fee MLS listing service with no strings attached. No hidden fees, no cancellation fees and no 25% referral commissions if you take your Florida property listing elsewhere. At GetMoreOffers.com®, we have confidence you will find great value in our service and ultimately it is our sellers’ best interests that is our primary concern.
If you really read the fine print of many listing agreements from other Florida MLS listing services, you may find language that is clearly not in your best interest, but in the best interest of the Florida MLS company. If you don’t read language in a listing agreement that clearly spells out the details of where buyer leads go and this is not clearly stated their website, then you can assume the Florida flat fee MLS listing company is cheating you out of your valuable unrepresented buyer leads.
These practices seem to be a clear contradiction to the concept of a “Florida Flat Fee MLS listing.” Wikipedia.org has the term “flat fee MLS” described rather clearly. 25% referral fees and $500 early withdraw penalties are not exactly what you’d expect from a clear cut flat fee MLS listing. These are commissions and fees (like the banking industry, or should we say bilking industry) that are being passed off as flat fee MLS listings.
The GetMoreOffers.com® definition of an authentic Flat Fee MLS listing service
The GetMoreOffers.com® definition of a Florida flat fee MLS listing service is as follows: All buyer leads from Internet and yard signs go to the unrepresented Florida FSBO seller in real time 8:30am-7:00pm, 5 days per week and Saturday and Sunday. At GetMoreOffers.com®, this means the Florida flat rate MLS seller gets the opportunity to talk with these unrepresented buyers and the possibility of selling their flat fee MLS listing with no commission involved. Hence the point behind listing flat fee in the MLS.
Keith Gordon, authorized broker for Florida GetMoreOffers.com® says, “Florida flat fee MLS services are looking for profits in the wrong places. Making a profit in discount real estate requires patience and long term planning. Our business plan at GetMoreOffers.com® does not include the use of gimmicks, hidden fees and other manipulative methods of trapping profit. We’d just rather earn it the hard way and the fair way. We believe that long term, our brand will benefit from client referrals and repeat business.
The future is bright with new technology and innovation…
We are betting on our investment in MLS listing software, referrals, new technology, new brands such as Altru Realty of latest hybrid company. The market in Florida is changing rapidly in the flat fee MLS arena. At GetMoreOffers.com®, we have mapped out a modest profit forecast for our flat fee MLS division. Altru Realty, where fully represent sellers, is gaining momentum charging just 1.25% at close and zero upfront. Keith Gordon is also the co-founder and broker for Altru Realty (Florida) and has become a powerful and savvy negotiator surpassing one billion in sales. His new book The Real Estate Sand Box is due out late 2017. Altru Realty now has 3 full time negotiations, 2 full-time closers and a supporting MLS team. Keith Gordon and his partner Erin Knorr are extremely excited about another endeavor Showing Bee which will be helping listing agents and buyers get showing faster. Showing Bee starts October 2017 with GetMoreOffers.com and Altru Realty. If that wasn’t enough on our plate we have successful ventured into the title insurance business with New Frontier Title. New Frontier Title is an affiliated business and enjoys a fantastic reputation just like GetMoreOffers.com. New Frontier Title now has a team of team of 5 licensed title professionals closing real estate transactions all over Florida. Because photography is so important to selling homes we opened Move-in Virtual Tours featuring Matterport 3-D immersed technology and HD magazine quality photos.
Get the true-blue Florida Flat Fee MLS listing from GetMoreOffers.com®
The way I get a feel for the tone of the real estate market update is through 100’s of our active and pending listings, industry articles as well as dozens of conversations I have each day with buyers, sellers, agents, mortgage brokers and title professionals.
We negotiate many deals each day and this gives us great insight into what I consider to be the most accurate and real-time pulse of real estate. Any mention of politics in my market reports is strictly intended to share my take on how politics affect the real estate market and are in no way meant as a way to push any particular political agenda. That said…
Political and Financial Factors Affecting the Real Estate Market Update:
- The new administration’s Make America Great Again agenda is stalled and I don’t forsee that changing in the second quarter.
- The DOW breaking of 20,000 was a rally anticipating big business and banks would benefit from tax reform and deregulations.
- Many predicted that the new administration would have their way but due to failed ACA repeal, one should not expect a fast track to tax reform.
- The DOW is always very stingy on giving back gains.
- Overall consumer confidence remains relatively high.
In conclusion, I think the bloom is off the rose.
Are real estate prices slipping? Yes. Interest rates moved up ½% since my last report in December 2016 post-Trump victory. My forecast at that time was steady-to-up for real estate prices and stocks.
What I didn’t anticipate in my last report was a fractured republican effort regarding the Trump agenda nor the Russia-Trump saga.
We are now at a break-point and a few things do concern me, each of which are significant in their own way. Let’s go to real estate prices, the economy and interest rates. It appears buyers remain focused on value. My gauge of real estate is based on our call volume, listing volume (new listings) and offer flow.
I see a mixed bag, still showing signs of possible strength as new listings are coming in at a pace which is 7/10. It feels like 2015 to me and not the sluggish pace of 2016 nor the fast pace of 2014. I do not see interest rates as problematic. What I see as problematic is consumer confidence dropping as Trump falls short of market expectations.
When I say market, I mean stocks more than real estate. Real estate follows signals from other indicators such as consumer confidence and the public’s overall feeling of well-being…in particular, their 401Ks.
At this point, I see stocks and consumer confidence the big question. Amazingly, with all of the political uncertainly and drama, the DOW is still north of 20,000. Should the DOW support crack back through the 20,000 level, I would expect a retest of DOW 1840 followed by consolidation.
The overall Florida real estate tone hasn’t changed much other than Miami-Dade and Naples seem to be softer. These two markets had been leaders. Manhattan real estate has been said to be softer as well. I feel prices in Florida will remain tempered at best. In contrast, certain cities in the US are reflecting record high sales prices such as Denver, San Francisco, Portland and San Jose.
My recommendation as ususal: price your real estate aggressively with no wiggle-room. Price your homes at “happy-walk” numbers.
Our companies are evolving and growing…
GetMoreOffers.com and ADDvantage Real Estate: Basic flat fee MLS listing in MLS (and a higher service offering of Platinum Pro through Altru Realty.) 877-232-9695
Altru Realty: Our hybrid company focused on better negotiation practices and seller representation. Plans include Altru Virtual and Altru Concierge). 888-392-4806
PIQ Realty (traditional real estate) with our new PIQ Doc management system; Realtors that want to work with me hang their licenses under this brand. 727 551 4474
New Frontier Title (affiliated business): closing transactions all over Florida; managed and operated by Sheree Akins. 877-544-6447
Showing Bee (our national publicly facing listing aggregation company based on seamless showing technology which is listing agent-centric)
Bee Forms (our national form generator designed to manage and simplify the complicated task for MLS data entry forms)
Move in Virtual Tours (our new photography company created to support Altru, PIQ and ADDvantage customers with advanced Matterport 3-D immersive technology and HD enhanced magazine quality photos. We are open for business in Tampa Bay extended and our new NY operation.
New hires and operations:
- Opened Altru Branch in Buffalo, NY (lead by broker, Renee Golda-Widman)
- Hired a new negotiator/Altru Concierge/Altru Realty (Toni Lupo)
- Hired another closing coordinator for Altru Realty to back up our star paralegal closing coordinator, Marci Kunzig (Lynn Simonton)
- Hired new SEO/SEM company for Online Digitial Marketing: Accent Digital Marketing
In other news, I am about halfway through writing my new real estate book. The book will reveal insider perspectives geared to help the consumer prepare for buying and selling real estate . Some of you have spoken with me and understand my take on pricing and negotiations. In my next blog, I will share an unedited excerpt from the book. The topic: Wiggle room is good…everyone wants to negotiate, right? NO—they don’t!
Stay tuned for more and as always, thank you for choosing GetMoreOffers.com.
Keith R. Gordon
Authorized Broker for GetMoreOffers®
ADDvantage® Real Estate Services