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Real Estate Disasters, Part One

 

Real Estate never gets old, but it sure does get interesting.



We recently had an interaction with another agent that was so good that he sold his listing. Twice.

The interesting part is that he sold it twice at the same time.

And by interesting, I mean a complete disaster.

So when a seller signs to valid, binding agreements to sell a single piece of property to two separate parties, what happens?

Stay tuned.  In 20 years of real estate, I’ve never seen anything like this.

Here’s what I do know- this is going to be a complete mess, and likely all parties will walk away unsatisfied.

There are lawsuits now and the lawyers that attend them.  What a mess.

The listing agent in this transaction has created a complete mess, and there is only expensive and mess solutions to the issue.

The lesson, well the first lesson, is to list with someone who actually knows what they are doing.

The listing agent in this case is from a large company that touts itself as one of the premier agencies for Delaware beach real estate.

I’m not sure the sellers would agree.  We shall see.

When selling property with the assistance of a Realtor, the choice of what realtor can have a huge impact on the outcome of the transaction.

At Sunrise Real Estate, we’ve been in business since 2004.  We’ve seen all kinds of things happen in real estate transactions.

At Sunrise Real Estate, we charge a 3.75% listing commission.  This is lower than the 5-6% that is typical in Sussex County, Delaware real estate.  There are agents in the market that look to charge commissions even higher than 6%, and that doesn’t include incidental charges for photos and virtual tours.  Most companies also have “administrative” fees that are charged at closing.

This small change in percentage can result in thousands of dollars in savings.  For example, a property that sells for $500,000 and pays the Realtor a 6% commission would pay the Realtors $30,000.  That same transaction, when listed with Sunrise Real Estate, would pay a commission of $18,750.  That’s a savings of $11,250.

At Sunrise Real Estate, we think most people who are selling in Sussex County, Delaware real estate can find something better to do with $11,250 dollars than pay a realtor.

You can pay $11,250 more, but your home won’t be more sold.  You’ll just have less money.

The next thought in most Seller’s heads is some version of, “what’s the catch?”

And Sunrise Real Estate responds to that question with a relatively short answer, “there isn’t one”.

The team at Sunrise is experienced, as Sunrise has been in business since 2004.  We have worked through all types of real estate transactions.

Sunrise Real Estate’s team are also Zillow Premier Agents.  The internet sells property in today’s market, and Sunrise Real Estate is able to get a seller’s property in front of buyers.

Sunrise Real Estate will work with a seller through all phases of the process.  Sunrise Real Estate isn’t a limited service, discount brokerage.  Sunrise Real Estate is a full-service, boutique agency.  Sunrise Real Estate doesn’t have national franchise fees.  Sunrise Real Estate isn’t owned by some large, out-of-town corporation.  Sunrise Real Estate doesn’t have agents in some multi-level marketing scheme.

Sunrise Real Estate also doesn’t charge administrative fees.  Sunrise Real Estate doesn’t charge for photos or a virtual tour.  Sunrise Real Estate isn’t going to push an affiliated title company or mortgage company.

Since the overhead at Sunrise Real Estate is lower, the savings is passed on to the seller.  A buyer’s agent who cooperates in the sale of a property with Sunrise Real Estate is paid a market commission.

A seller who works with Sunrise Real Estate is going to save thousands while working with a locally owned company.  This allows the Seller to know that the local community (and the Seller) will benefit from the transaction.

Thinking of Selling?  CLICK HERE to learn more.

 

 

 

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