M A G A Z I N E - Florida Wise

Real EstateWise
Beware Of The
Bait And
Switch!
By
Jackie Ellis
When it comes to
selling your home
here in South Florida many sellers are
being lured into listing their homes with
limited service real estate providers
offering to charge only 2% or 2.5%
commissions. Beware of the bait and
switch! When hiring certain limited
service providers to list your home, the
price may look enticing at face value but
at what cost? Will you actually be saving
money when doing business with these
types of firms?
When contacted for their services,
they will make an appointment to view
your house. You’ll soon learn that the 2%
commission does not get your home listed
on the multiple listing service (MLS), a
computer database where realtors can
review properties, nor pay for the agents
of potential buyers. This will result in very
limited exposure for your property. One
of these providers admits in their contract:
“This 2% plan can affect the extent to
which your property is exposed to
potential buyers.” Some firms will then
add an additional 2% to place your
house into MLS to expose it to other
realtors and pay the buyer’s agents. But
many realtors will avoid showing your
house for only 2% commission.
“A professional real estate agent will be
able to put thousands of dollars or more
into a seller’s pocket.”
Sign up with these agencies, and
you may be forced to use their title
company and home warranty plan,
neither is industry standard. These
services often respond to this by offering
their full service plans for “only” 7%
commission. But this is 1% - 2% higher
than what you’d pay for from most
professional realtors. Seller, beware! This
practice is commonly known as “bait and
switch”.
“Choosing the offer is one of the most
important things that a full service
provider can help sellers do.”
It’s a very hot market in South
Florida. Here are some tips to keep you
from getting burned by the limited service
providers.
1. Read the listing contract that you are
about to sign.
If you are unhappy during the term of
the listing, make sure you are able to get
out of it. Many of these providers carry
very hefty penalty fees.
2. Check the company’s background.
Are they licensed? The person coming
over to list your house is typically a
Continued on page29
Out to change the way
you think about real estate
For many people, your house
is your most important
investment. Don’t trust it to
just anyone.
What makes Jackie Ellis such
an original in South Florida real estate?
Quite simply, it’s the little things. It’s her
creative approach to marketing homes to
maximize their value. It’s her friendly,
energetic personality. It’s her lifetime of
local knowledge. And it’s her track
record of success more than 15 years
strong. When the time comes for your
next move, put your investment in the
hands of A South Florida Original. Give
Jackie Ellis a call today.
Jackie Ellis, Realtor®
Office: (561) 965-1225
E-mail: jackie@jackieellis.com
Web sites: www.jackieellis.com
www.boyntonhomes.com
8188 Jog Road, Suite 101
Boynton Beach, FL. 33437
FloridaWise Magazine 23