Wednesday, February 6, 2008

Do Limited-Service "Discount" Brokerages work?

See for yourself...
http://realtytimes.com/rtpages/20071002_foxtoniggy.htm

2 comments:

Anonymous said...

Hello Mike,
I see you're getting into the R Estate bloggin scene pretty soon. I can tell you that I tried one of these limited-service companies once to sell my house and it was an absolute nightmare! Lesson learned!
I will never, ever, ever make that mistake again! I see that a lot of those companies are closing down in our area...no surprise to me!

Mike Kinlaw said...

Hi Bill P,
I'm sorry you had a bad experience with a limited-service brokerage. I think a lot of people think they can just throw their house in the MLS and sit back and let the offers come in, but that's just not the case. If it were, we'd all be working for a limited-service brokerage. Also, if that was the case, I can guarantee you that the CEO of my company wouldn't constantly be buying/paying for new technologies, partnerships with internet and print advertising companies like Realtor.com, Yahoo.com, AJCHomeFinder.com, TheRealEstateBook.com, Trulia.com, etc., etc. (there are really too many to mention). Prudential's theme has always been "Maximum Exposure" when it comes to advertising - if I didn't think that Prudential had the most advertising exposure - quite simply, I'd be at the place that did. When we input a new listing, it truly takes us a couple of days (after it's put into the MLS) to do all the other advertising we have the capability of doing. Virtual Tours for every listing, enhanced listings on Realtor.com, enhanced listings on AJCHomeFinder.com, enhanced listings on Trulia.com, enhanced listings on TheRealEstateBook.com, etc. Also, I create a personalized webpage for each one of my listings (which I have never seen anyone else in the area do) that you can see on my website. If I/we didn't need to do all this in order to sell houses and could instead just throw it into the MLS, go and play golf, and sit back and wait for the offers to pour in, why would we? Last year, the average time on the market for houses in the Atlanta Metro area was 6-9 months. The projections are worse for 2008, so every marketing advantage one has at their disposal makes it more likely that their listings will sell. Simple as that.