This blog is about whether or not self-represented flat fee sellers get more for their homes when they represent themselves verses having me or another skilled Realtor negotiate for them. I am Keith Gordon, a Florida real estate broker that has been actively involved listing homes in flat fee in the MLS in Miami, Tampa, Orlando, Jacksonville, Ft. Lauderdale and other Florida cities since 2000. In my opinion, when self-represented sellers negotiate for themselves, they have a 50/50 chance of getting in right. I have listed over 2,400 properties in Florida and have spoken with at least 1,600 of my past flat rate MLS clients. I have negotiated over 100 contracts for our contract-to-close flat fee clients. I have taken over 7,000 calls from Realtors over the past 8 years requesting showing appointments in Orlando, Tampa, Miami and other cities in between. I have received feedback from at least 300 Realtors that have negotiate directly with my by owner flat fee listed clients in Florida. Many have complained that they do not like dealing directly with sellers and wished I was negotiating for the seller. While others never would complain because they fall in the category of 'I got paid and I'm happy.' I am an experienced on the pros and cons of being flat fee MLS listed in Florida. In my opinion,when self-represented sellers negotiate for themselves, they have a 50/50 chance of getting in right. I often think about launching another 'concierge' flat fee website that just offers Floridians our contract-to-close flat fee plan. Flat rate MLS listed sellers are at a huge disadvantage when negotiating against a skilled or unskilled Realtor for 5 reasons: One, the Realtor usually knows more about real estate and contracts than the self-represented seller. If they don't, that can just as well impede a successful negotiation process. Two, there is no 'messenger' to aid the seller. This is where things go wrong with 'self-representation.' When I negotiate for a seller, I have the opportunity to interview the buyer's agent for 'deal clues.' Clues such as what the buyer does for a living, where they are from, motivation and other nuances that will give me clues as to how they are thinking. The self-represented seller can not get this same information because the seller is perceived as the adversary when dealing directly with a Realtor and I am just the messenger. Third, emotions can stop a deal. I have none when it comes to negotiations. When a seller deals directly with the buyer's agent, their buyer is in essence sitting at the negotiation table with the seller. That is a disadvantage. When I negotiate, the buyer perceives me as a semi-impartial professional that understands real estate and that reassures them, subliminal as it may, that they are getting a fair deal. Fourth, is the ability to be forthright with my seller and the other Realtor. Like an attorney negotiating with another attorney attempting to settle, all I want is to have a meeting of the minds as quickly as possible. Fifth and not least is price. Sellers need to help the buyer's agent quickly understand what they want and why their buyer should pay that price. That may entail different 'countering' strategies and psychology to arrive at that price. Knowing how to handle the buyer's agent is the key. You need to speak their language and help them keep on track which is to earn a commission by closing this deal. Buyer's agents single goal is to find their buyers a home at a price and terms that are 'market reasonable' and not 'market unreasonable.' When that is done, they get to earn a living. Flat fee MLS is an effective by owner marketing approach in Florida. It can save by owners from paying any commission is sold without a Realtor and if a Realtor ends up with the buyer, then the by owner MLS sellers pays just that agent. Saving money is one thing. Representing yourself is a completely different and at times dangerous proposition. Keith R. Gordon, broker for ADDvantage, the leader in Florida flat fee real estate brokerage, offers flat rate MLS listings in 40 counties including Hillsborough, Pinellas, Pasco, Manatee, Sarasota, Lee, Collier, Miami-Dade, Broward, Monroe, Palm Beach, Martin, St. Lucie, Duval, St. Johns, Orange, Polk, Osceola, Seminole, Lake, Volusia, Leon and Escambia. ADDvantage gives flat fee MLS Florida sellers a variety of options for listing in the MLS by owner including full contract representation and agent eblast marketing programs. View our4 flat fee MLS listing programs Sellers receive unprecedented buyer lead protection with live phone support from 8am to 8pm SEVEN days per week because real estate doesn't stop on the weekends. All leads-whether agents or prospective buyers-are documented and emailed to clients in real time. ADDvantage sets the bar for other companies who advertiseflat fee MLS listingsby educating the public about practices that are not in the seller's best interest. ADDvantage's business practices are completely transparent and we are advocates of our by owner MLS clients. There are NO HIDDEN FEES, NO LONG TERM CONTRACTS, NO GIMMICKS. Just straightforward services tailored for FSBO sellers.Call anytime and I can answer any questions you may have about listing your home using our flat fee MLS listing plans. 727 942 2929
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