Real Estate Myths – and Truths

Myth #1   It doesn’t matter which real estate agent lists my home. They all just put the listing into the BLC (Brokers’ Listing Cooperative).

Truth   It is critically important which agent you select to market and sell your home!

The real estate market is highly competitive. There are many sellers vying for those few available, qualified buyers. Less than 60% of homes put on the market actually sell. We sell over 90% of our listings – almost double the local average. Our proactive sales plans will out-market the competition for those few buyers.

It’s important to have an agent with the education, experience and know-how to anticipate problems, avoid them, or be able to handle them should they occur. About 30% of the contracts written never close. There are a million things that could go wrong. Problems arise and sellers who think their house is sold find out the sale has collapsed leaving them in a terrible predicament. Though we make every effort to avoid problems, if one does arise, you want someone with experience who knows how to get it solved and get you moving.

You want your house sold quickly and a transaction that goes smoothly. We have a proven track record of success.

Myth #2   Tom, Ginger and Kathy sell a lot of real estate. They are too busy to pay attention to my listing.

Truth   Yes, We are busy! Busy doing all the right things that will get the best results for our clients.

Success breeds success. Our success in marketing homes has resulted in our being busy. You wouldn’t hire your brother-in-law to do your surgery just because he’s not busy. You want the best surgeon possible. And you want the best real estate agent!

We work diligently to make sure you receive the time and attention you deserve. In addition to team members, we have assembled a group of professional resources, with like-minded work ethics, to assist our clients with ancillary real estate needs.

Over 95% of our business comes from referrals from our satisfied clients. We can provide contact information for them if you’d like to talk with them. We want you to be another satisfied client.

Myth # 3   You should select the agent who says he or she will get you the highest price.

Truth   No, always select a Realtor® based on experience and success. Market value of your home is another issue.

Overpricing a home to get the listing is one of the oldest scams in real estate - schmooze the seller and compliment the home to get the listing, then they ask for a price reduction later.

Ask prospective agents how many of their listings actually sell. The average Indianapolis area realtor sells about 50% of his or her listings. We sell over 90% of our listings proving once again that our sales plans work!

You should choose an agent who has researched your market to determine a suggested list price. When we list your home, we will show you recent real estate history of similar homes in your area, we will discuss the condition of your home, a pricing strategy and your motivation to sell. Only with this knowledge and our educated suggestion will you be able to set the list price for your home. However, the most important thing to remember is the buying market will ultimately determine the sales price of your home.

Myth # 4   Real estate agents make lots of money from the commission I pay.

Truth   While it seems you are paying a lot of money for someone to put your listing in the BLC (Broker’s Listing Cooperative), there are a lot of expenses your listing agent must pay.

We have developed a “common-sense” commission structure. Our fees range from 6.5% to as little as 4% of the sales price of your home. We offer “quick sale” reductions, a reduced fee if you are buying a home with us, or if we sell your home to one of our own buyers.

We always want to attract agents with a generous portion of the fee to entice them to bring buyers, so we must offer a significant portion of the commission to the cooperating broker/agent. Their compensation is usually between 3 – 3.5% of the sales price – and often more than we earn. They in turn split the amount with their brokerage company. The balance is then shared between us and our brokerage.

Real estate agents have overhead and expenses just like every other professional. We are confident you will find your money well-spent with our outstanding services.