I'm sitting in my office feeling a little bit dazed, back when I worked at Sopher we would call it "fried". First we just got back from a great week on the Outer Cape (Wellfleet), what a beautiful place-we go every year. We usually go in the beginning of September to avoid the crowds, this year we choose the second week of August. That's also throwing me off, but I came home and quickly got two rental deals done...so that was good. Just sort of feeling like riding out the end of summer taking it easy, am excited about this hurricane though and am looking forward to some good surf. It's a sad irony that what brings so much joy to us surfers, can bring much pain to others. With this in mind we surf the aftermath of these storms with a certain amount of respect, we can't change what has happened but we are conscious of it.
I just had my first contract signed using our discounted brokerage model. And it was clear to me that listing with someone that offers incentives to sellers is just if not more effective than full price brokers. We had several offers and solid traffic through out the term. Citi-Habitats had it for six months with no luck, my point is and has been in the age of the Internet you don't have to use a full price house, other options are valid.
I am also working with several buyers who will enjoy a nice commission rebate when they purchase. No closed deals yet, but offers have been made(just not accepted) though we have been very close. Using a broker that will offer you a commission rebate is a great way to guarantee added value to your transaction. It makes absolutely NO difference whether the business card says Corcoran or The Burkhardt Group, we all have access to the same listings. Either way you want an honest, knowledgeable broker-someone whom you like and can work effectively with. I am only selectively listing properties, my focus in the future will be to work with buyers, (this still has not been officially rolled out-just to busy with my rental side business).
In a nutshell if you are a buyer you will receive somewhere between 33% up to 67% of the commission rebated to you if you purchase with us. Simple as that. Just depends on how much support you require and the terms can be modified as we go along. This fall I will be supporting this with advertising, setting up a centrally located "hub" and will start seeking out skilled agents that would like to partner with us.
It will take some time to get the public to recognize this as a viable way to complete a real estate transaction. Like many things people want to complain about the system, but are slow to embrace changes. My goal is for complete mutual participation through out the deal, this includes the client being cc'ed on all email correspondence between brokers. You'll never have to wonder what was actually said, "did the offer get made and made correctly". I have received a few "raised eyebrows" from listing brokers whom are not use to this level of transparency. Also since I am hitting on "all cylinders" meaning I do rentals, sales, consultations, short term business I am not dependent on one side of the business to produce all my income. From 2004-2007ish most of my business was sales related, big checks! But when the tide turned I was comfortably able to switch gears and maintain a very healthy level of income.
I had a slight run in with a broker the other day, a real slime....didn't want to honor a co-broke as he felt the buyer brought me in to late. Funny that his bio was loaded with a bunch of BS about how ethical he was, they maintain the highest REBNY standards...blah blah blah. He didn't even wait to discuss this with me privately, to get some color on the situation. He decided to have the conversation as we stepped into the elevator. I can tell you the buyer was not amused or very happy. He also gave us a spiel that this was the "law", his total involvement up to this point was a few emails back and forth. This is why I advise my buyers that are working with me in a non-traditional full service role to mention that they do have a broker early on. The majority of agents will honor your request with no problems when you bring in your own broker, sure if they thought they were keeping the entire commission they might be disappointed. But it is your right to have a broker represent you at just about anytime up to a contract being signed. And lets remember it's not up to the broker, it's up to the seller (who pays the commission!) to decide what deal he/she will accept. So don't let some sleazeball broker intimidate you!
I just had my first contract signed using our discounted brokerage model. And it was clear to me that listing with someone that offers incentives to sellers is just if not more effective than full price brokers. We had several offers and solid traffic through out the term. Citi-Habitats had it for six months with no luck, my point is and has been in the age of the Internet you don't have to use a full price house, other options are valid.
I am also working with several buyers who will enjoy a nice commission rebate when they purchase. No closed deals yet, but offers have been made(just not accepted) though we have been very close. Using a broker that will offer you a commission rebate is a great way to guarantee added value to your transaction. It makes absolutely NO difference whether the business card says Corcoran or The Burkhardt Group, we all have access to the same listings. Either way you want an honest, knowledgeable broker-someone whom you like and can work effectively with. I am only selectively listing properties, my focus in the future will be to work with buyers, (this still has not been officially rolled out-just to busy with my rental side business).
In a nutshell if you are a buyer you will receive somewhere between 33% up to 67% of the commission rebated to you if you purchase with us. Simple as that. Just depends on how much support you require and the terms can be modified as we go along. This fall I will be supporting this with advertising, setting up a centrally located "hub" and will start seeking out skilled agents that would like to partner with us.
It will take some time to get the public to recognize this as a viable way to complete a real estate transaction. Like many things people want to complain about the system, but are slow to embrace changes. My goal is for complete mutual participation through out the deal, this includes the client being cc'ed on all email correspondence between brokers. You'll never have to wonder what was actually said, "did the offer get made and made correctly". I have received a few "raised eyebrows" from listing brokers whom are not use to this level of transparency. Also since I am hitting on "all cylinders" meaning I do rentals, sales, consultations, short term business I am not dependent on one side of the business to produce all my income. From 2004-2007ish most of my business was sales related, big checks! But when the tide turned I was comfortably able to switch gears and maintain a very healthy level of income.
I had a slight run in with a broker the other day, a real slime....didn't want to honor a co-broke as he felt the buyer brought me in to late. Funny that his bio was loaded with a bunch of BS about how ethical he was, they maintain the highest REBNY standards...blah blah blah. He didn't even wait to discuss this with me privately, to get some color on the situation. He decided to have the conversation as we stepped into the elevator. I can tell you the buyer was not amused or very happy. He also gave us a spiel that this was the "law", his total involvement up to this point was a few emails back and forth. This is why I advise my buyers that are working with me in a non-traditional full service role to mention that they do have a broker early on. The majority of agents will honor your request with no problems when you bring in your own broker, sure if they thought they were keeping the entire commission they might be disappointed. But it is your right to have a broker represent you at just about anytime up to a contract being signed. And lets remember it's not up to the broker, it's up to the seller (who pays the commission!) to decide what deal he/she will accept. So don't let some sleazeball broker intimidate you!
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