CHICAGO, March 14, 2017 /PRNewswire/ -- Enterprise Realty Brokers believes that people pay too much to list and sell their homes. With the housing market in full recovery, this agency is setting new trends and helping homeowners put more money back in their pockets.
With the real estate market continuing to improve, real estate agents are finding it more and more profitable to get back into this sector working full time. Though people do choose to sell by owner, the majority go through a well-established agency so they can take advantage of the MLS listings.
One of the big reasons people cite for not wanting to list with an agency is the commission that can be as high as 6% of the sale price. On homes worth a lot of money, this amount can be significant. For instance, a homeowner selling at $500k will pay about $30,000 simply for the listing and buyer's agent's fees.
Dan Cuckovic, the managing broker and owner of Enterprise Realty Brokers, a Chicago-based real estate company, recently stated that, "Considering the real estate market today, sellers should never agree to pay more than 4% commission."
Cuckovic goes over the top three reasons for this statement:
- The Chicagoland market in 2017 is going to be a seller's market. According to Midwest Real Estate Data service, the supply of real estate is at its 10-year low with only 4.2 months of supply available. Month's supply chart indicates the number of months it would take to sell off the entire real estate inventory currently on the market without any new properties being added. Knowing this empowers sellers and gives them confidence that there will be a good to excellent demand for their property.
- Smaller agencies can provide excellent services without large corporate fees. Large corporate and office fees that big brand real estate firms charge their agents drive the commission percentages upwards. Smaller, more specialized firms do not have these fees and their agents are at liberty to reduce their commission in order to obtain the listing, without sacrificing the quality of the services offered.
- Everyone is online. This goes for sellers, buyers and real estate agents. The most important search tool for the homebuyer is the internet (according to the National Association of Realtors). 100% of buyers have at some point used the internet and it's free to use.
Cuckovic also points out that websites like Zillow.com and Realtor.com offer free access and reliable information on all homes for sale in the Chicagoland area. Any buyer searching for a new home will use these or similar sites. Listing with any licensed real estate agent does put a home on the local Multiple Listing Service (MLS) network and it should show up on these and other websites. This service is expected to be offered by all agents, regardless of whether they are charging 6% or 3.5% commission. While there are other means to reach buyers (open houses, social media and email campaigns), online presence is crucial.
For homeowners, these reduced real estate fees are very good news; it's money they can put back in their pockets. The question that remains is how to find those agents that are willing to offer full services at a discounted rate.
Cuckovic offers this advice: "Do your research online and use services like Upnest.com or Hungryagent.com. These websites have agents bid for your business, allowing you to interview and select the best agent at the most affordable price. In addition, approach your local family owned real estate firm and talk to them about discounting their fees. If you are also buying your next property after the sale and you are open to using the same agent to find your next home, it is highly unlikely that any agent will say no."
About: Enterprise Realty Brokers was founded in 2005 by Dan Cuckovic. The company's goal is to offer the best services possible to clients at the best possible prices. They strive to go the extra mile to help clients achieve their real estate objectives. They focus on helping clients sell and buy residential real estate in the areas of Cook, Lake and DuPage County. Enterprise has changed the playing field in real estate by focusing on technology and data to deliver the best services and results to clients.
Enterprise Realty Brokers
2900 W. Irving Park Suite C2
Chicago, IL 60618 United States
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SOURCE Enterprise Realty Brokers