July is shaping up to be one of the best value months ever in real estate
Paradise Sharks was born back on February 10th of last year. Our stated passion and the reason for creating this boutique real estate brokerage is, and was, to raise the quality and value of real estate services available to everyone. Each month we take a look at what home sellers in our home town pay in commissions to see what is happening on our “value meter”.
We still have another week to go before we can tally final July numbers, but as of this morning over 30% more single family home sellers are paying 5% than those paying 6%. This is great news for those of us who are working to add value to each and every real estate transaction we touch. As of this morning, in July, only 23 homes in Jupiter have sold where a 6% commission was paid compared to 30 homes where a 5% commission was paid*. Value is winning. Actually, there were another 4 transactions where a different commission amount was paid and that also tips the “value meter” even more as each paid below 6%. In reality almost 48% of all July single family home sellers to date in Jupiter have paid a commission lower than 6%. Value is indeed winning.
Those seeking real estate services need to understand that by law, real estate commissions are negotiable. Paying 6% isn’t a “rule” and we are so pleased that here in Jupiter it is becoming more of an exception. More importantly, do not let anyone tell you that paying less means you are dealing with a “discount” brokerage and getting a lower level of service. In fact, as I review many of the July sales in Jupiter discussed here I can show you case after case where, in my professional opinion, those paying less got more. Here is a photo for a listing we took this week in Boynton Beach. Look at the quality of this photo compared to every other one you see on a real estate listing anywhere and tell me how many you would consider superior. You should get a very high level of quality no matter what you agree to pay in commission. After all, the goal is usually to sell your property for the most amount of money in the shortest amount of time. You need a very high level of marketing to accomplish that and you should demand that in you are paying 5%, or 6%, or another number. Remember, all commissions are negotiable.
If you are considering the sale of a property make sure you interview at least 3 brokerages and shop around. Find out what they are going to charge you, not only in commission, but other charges like “transaction fees”. Find out what they are going to do for you and the marketing of your home. Look at their past listings. Certainly Paradise Sharks would love to be included on the list of interviews you are holding and that can easily be arranged at firstname.lastname@example.org. Then make a fully informed decision. The odds are you will find competition is good and will help save you significant money on the closing statement.
* To determine what commission a seller is paying we multiple the advertised co-brokerage commission by 2.