Frequently Asked Questions

Selling a home is serious business. And you want to be sure you don’t make a costly mistake, so I have prepared this list of things you should consider when selecting a real estate professional.

Can you provide local references, people that have used your services?

Absolutely, I wouldn’t list my property with just anyone off the street, and I wouldn’t ask you to either. You can check with my references; ask them about the level of service they got from Sundance, and me.

Are you a full-time Realtor^®?

Yes, this is my only job and I take it very seriously. Why would anyone trust the selling of his or her home to a part time agent? There are a lot of agents out there who squeeze real estate in between taking the kids to school, ball practice, dance & piano lessons. Let’s face it, you’re paying full time prices, you deserve full time services! This is a business decision and you should treat it that way.

Aren’t the big franchises better equipped to get my property sold, with their chain of offices nationwide?

Not really, and even if they say so, there is reason to ask why. You see every agent is an independent contractor, working for him or her self. There is a big incentive to sell “in-house” listings. Indeed there is pressure to do so—commission (agent’s pay) for listing and selling sides is normally higher. Sometimes the pressure is severe, so much so that listings conveniently fail to get in the MLS system. While that may make the agents and their franchises happy, the homeowner is not necessarily being served. Worst part is the homeowners don’t even know it.

One of the Franchise agents says they mostly sell their own listings, so they sell faster.

That may be, but in whose best interest are they working? Yours? Think again. They have told the Buyers that they would get them the best deal too. Do you think they can do both?

Another agent said I could have my property listed in the MLS for $500, and pay only 2 - 3% at closing, why do you charge more?

Think about it. First, what services are you going to get? MLS entry and that’s it. The agents selling this service are getting their $500, and moving on to the next one. That 2 - 3% goes to the selling agency, whenever it sells. Meanwhile, who is marketing the property? No one. How does it sell? Good question. Ask for names of clients who have sold this way, and call them to find out how well it worked for them.

Why not list with the “lowest bidder” (agent)?

I don’t know what services others are offering, nor do I know what they offer to other agencies to sell their listings (co-op fee). I do know what I offer, my overhead, and what I pay to other agents to sell my listings. I base my fee on those expenses. Listing a home is a bit like buying other goods & services, when you want truly professional service, it may cost a little bit more, but most of the time you get what you pay for. Most of the time your home will sell faster, and for more money, with a full service, professional, marketing plan at work.

What is a co-op fee, and why should I care how commissions are split?

A co-op fee is the fee that the listing brokerage offers to all the rest of the MLS members to sell a given property. It is usually a percentage of the sale price. This is how selling agents know what they will make if they sell that property. You should care because the difference in co-op fee can sway an agent to show, or not show, a given listing. If an agent will get $800 more to sell one house versus another, which one do you think he will work the hardest to sell? So if my offer (co-op) to selling agents is higher, then my listings stand a better chance of selling more quickly, and for more money.

Doesn’t every agent offer a Marketing Plan?

I don’t know, but if so you should look very closely at them. What, exactly are they promising to do, and what happens if they don’t do what they promise. When I commit to listing your home, you know, in writing, exactly what I will do, and if I don’t, you can cancel the listing as easy as writing a letter. It is called my “Easy Exit Listing”, and it puts you squarely in the driver’s seat.

What is your policy on Open Houses?

I do Open Houses, with proper preparation. Homeowners need to understand the risks involved with Open Houses, and take proper precautions before I will hold an Open House. Ask me about these when we meet.

What makes the MLS work?

When I list a property, it immediately goes into the MLS system, and is advertised to all 264 agencies in the Emerald Coast Association of Realtors^®. Immediately, you have some 1,500 agents who want to sell your property. While I will try to sell your property myself, statistics tell us that one of these other agents will most likely bring the buyer to your home. Over 70% of the residential sales happen this way.

Another agent says they can get me more for my property.

Why would I list with you?

Watch out! You have to understand that the market will determine selling price. The best indicators of that selling price are 1- What similar properties have sold for and, 2- What similar homes are currently listed for sale, at what prices. It’s a relatively simple process. Where it gets complicated is when agents are so pressed to get listings that they will tell an owner anything they want to hear in order to list the property. I call this practice “Buying a Listing”, it is misleading, fraudulent—and puts you in a very poor position. And it happens all the time.

If you list your property for more than the market will support, it will not sell. Period. Buyers have the very same information (on closed sales) available to them. And they will not pay more than the market says the property is worth. So what normally happens is the owner sits with over priced property, until one of two things occurs. Either the market comes up to the price, or the price is eventually lowered to what it should have been to start with.

In the mean time the owner is sitting on the property, with all the associated costs, wondering why it doesn’t sell. Much better to list at a realistic price, and get the property sold. After all, isn’t that the objective?

I see ads for a “Free Market Analysis”, why can’t I just get three agents to do that, and pick the one will list it at the highest price?

Talk about asking for trouble! Agents only get paid a commission—at closing. So, the first step in that chain is to get listings. It is an old trick. Tell the Seller what he/she wants to hear, deal with the consequences later. You see once you sign on with someone practicing this way, they have you— more importantly your property— in their inventory. Then, months down the road, you will either lower the price, or it will stay on the market until the market comes up to your price.

If you want to sell your property, it needs to be priced as the market dictates. Don’t get the cart before the horse—hire a professional, and price the property, with his/her help, at what the market dictates.

Personal Information.

Caution! It is not in your best interest to disclose your motivation to sell, price you might accept, or any other pertinent information to any agent until you have decided on who will represent you. This information can come back to haunt you later – when they represent a Buyer interested in your house!

I hope you find this information helpful. And I hope that when you are ready to list your property, you will do so with me. If you wish more information, or have a question about listing property, please call me at (850) 585-4090 or email me at bob@fourpar.com,

I’ll get back to you as soon as I can.