REDUCED COMMISSION PLAN FOR LBI PROPERTY OWNERS
The LBI real estate market is hot and moving fast. The quicker a listing is sold, the less advertising dollars and time spent on the listing. Therefore, a less costly proposition for the listing agent. So, why shouldn’t you share in this cost savings with a reduced commission structure.
This isn’t a reduction in services, marketing or advertising, just an adjustment based on ‘time on the market’ with those savings of not having months of advertising and additional time of nurturing your listing.
There are usually two companies on most transactions, the listing broker and the selling broker which split the 5% commission in half. Each side getting 2.5%. From here, depending on the agent’s commission split with his or her company, this portion is split again between agent and their respective company. In total, a 4-way split is most common on LBI transactions.
Statistics tells us that over 80% of LBI listings are sold by another agent rather than the listing agent. Surprised? Especially when you see all those full page ads with ‘sold’, mostly another agent has actually sold the property. Sometimes, these listing agents are listing machines, just churning through and waiting for someone else to bring a buyer to their listings.
To make sure your home is competitive in the marketplace, the selling side of the transaction will be offered a 2.5% commission. To do less, would be a disincentive for the buyer’s agent showing your property. All discounts will be absorbed by Pat Sepanak.
Co Brokered Transaction
If your home sells* in under 30 days, the listing side of the commission is reduced by .50%.
If your home sells* between 30 and 60 days, the listing side of the commission is reduced by .25%
(Sells*) – constitutes a fully executed contract.
As an added incentive, if the home is sold by a Sand Dollar agent the entire commission is reduced by .65%
If I personally sell your home, the commission is reduced by .75%.
Example: $1M sale, commission of 5% = $50,000
Co Brokered Transaction
Sells in less than 30 days = savings of $5,000
Sells between 30 & 60 days = savings of $2,500
Sells in less than 60 days, by Sand Dollar agent = savings of $6,500
If I sell your house = savings of $7,500
What I Do For You
Online Market Evaluation
If you wish to gain a better understanding of your LBI property value ask for my Online Market Evaluation. Just give me some basic information about your home and I will give you a detailed emailed report about current comparable homes and your price range of value. You might be surprised by the numbers!
First up is devising the overall Business Plan — from getting the home ready to market, the advertising and showing phases, the offer and negotiations and then onto the Closing Table. I have developed 6 Components that assist in you in selling your property faster and for more money.
Take a look at my Advertising Plan and you will see that the internet and the real estate community are very important aspects of a successful sale and promoted accordingly.
As I said, this is not a reduction in marketing, advertising or commitment to getting your house sold.
The agent you pick should be experienced, professional and be completely honest with you. They need to guide you through all the different aspects that come with the selling of your property. I am honored that so many of my clients have been willing to write me testimonials. These are the most important recommendations that an agent can receive.
Please click here for resume and testimonials.
Here are my last few testimonials:
“I wanted to thank you on our behalf for all of your help and wisdom along the way. Your knowledge of the market, your advice regarding how to list it successfully, and your assistance, patience and responsiveness through the challenging closing process were very helpful and ultimately reassuring. Our choice of you as our representative was an excellent one.” L.A. & C.D. June, 2020
“Hello dear Pat, I just heard from my dearest friend that things look good for the sale of her home in Barnegat. I was so happy to recommend you to her as you were just wonderful to me and Richard when we sold out BH home. (can’t believe we’re in NC almost two years). But she said you did a wonderful job (as we knew you would). So do stay safe my dear – and continued good luck with your business”. ~ P.M. September 2020
Any Questions, please do not hesitate to ask me.
Pat Sepanak, Broker/Owner