Ok, so today I have had an awakening. Over the last couple of weeks I have been negotiating, successfully, with a couple of REALTORS® from one of the "Buyer Rebate" companies in my area, and I have to say, I have been impressed. Both REALTORS® have been on the ball and have done an excellent job of communicating and getting the deals pending. This has given me a new found attitude towards "discounters".
The first thing I liked was that all communications have been done via E-mail. To me, this is a big plus. It saves time, all contracts are more legible, as opposed to faxing everything, and no phone tag. Secondly, the offers they presented were complete, in that they had done their homework, with getting the Buyers pre-approved and the initial offers were very close to listing price, not much negotiating required. The thing that really made the offers appealing was the fact, that the Buyers, in both cases, were using the "rebate" to apply towards their closing costs. This meant that they were only asking my Sellers for minimal contributions instead of the normal 6%.
All in all, I have been very impressed. Now if I can just get the "full service" REALTORS® to be as efficient, I will be a happy camper. The first deal I had negotiated with this company closed in 10 days. The one I negotiated yesterday is trying to close in 21 days. So, maybe, their "reduced" commissions have caused them to be more efficient and have put pressure on them to only work with qualified Buyers. Maybe, just maybe, they are on to something here. Maybe some "full service" REALTORS® need to step it up a notch and quit throwing deals up against the wall and hoping they stick.
Maybe, just maybe, I'll offer some discounts and some rebates. Or, maybe NOT!!