To Home Sellers on the North Fork of Long Island

June 13th, 2007 category: Buyers, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real Estate

We noticed recently several very late entries into the multi-list Long Island real estate service. By “late entries”, we don’t mean that your home appeared a few days, or even a week after the company that you selected listed your home- we’re talking about a few months.

For those that are unclear about the Multiple Listing Service, let us explain: while fairly new to the North Fork of Long Island, the MLS opportunity was finally embraced by the local real estate community a few years ago. A service that has been in place for over 20 years, this entity places your home in a cooperative venue, permitting access to show your home to the real estate community in all of New York (The United States & World Wide). Exposure of your home is critical in order to achieve multiple offers; in addition to exposure to the real estate community, consumers (via Realtor.com) can access your property for consideration.

As the internet continues to afford marketing possibilities for your home, the mls service remains the stable go-to for the real estate industry- particularly for those agents that have potential buyers for your home. Realtor.com permits potential buyers to browse properties in their area of choice in order to narrow down possibilities.

As a home seller in a more challenging market, to be without this service is to eliminate the majority of both real estate professionals with possible buyers, and buyers seeking to purchase a home in this area. It is a marketing avenue that should be expected from your chosen real estate professional. It involves “sharing” the commission paid for your home; it involves responding immediately to prospective buyers that contact your agent having found the property on Realtor.com.

There is only one reason that makes sense for listing companies that do not utilize this very reasonably priced service in order to provide your home with necessary exposure: GREED. If your home is not immediately presented to the real estate community, re think your choice of listing agent. Check on Realtor.com within days of your listing to make sure that your property appears.

You are paying a commission that is attached to the success of your home selling. It is likely explained to you that part of this fee is for the agent, from a different real estate company, that introduces the buyer to your home. Here’s the catch: if your listing agent locates the buyer, they receive the commission in full. No sharing. Here’s the other reality: FEWER OPPORTUNITIES TO SELL YOUR HOME.

Please don’t get caught in this trap. It’s unethical to you, the seller, and an appalling breach of ethics on the part of your listing agent. It’s called, plain and simple, greed, and your largest investment should not be subject to these kinds of games. Just our opinion…

Options Realty: selling homes on the North Fork of Long Island: Riverhead, Jamesport, Aquebogue, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, and Orient, New York.

Technorati Tags: Southold, Long Island, MLS, New York, North Fork, Sellers, Property, Real Esate, Buyers

This entry was posted on Wednesday, June 13th, 2007 at 3:21 pm and is filed under Buyers, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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