Case study - Commingle helped the owner save $9K in fees & select the right Real Estate Agent
Recently, Commingle helped one client compare 7 agent proposals. From this list , a preferred agent was selected. Having the property on the market for one week, an offer was presented and accepted by the owner. The fact remains, Commingle helped the client select the right agent and saved the owner over $9,000 in fees.
If your looking to sell your property, the Commingle process is proven. Proposals received from real estate agents through this process helped the owner evaluate which realtor was going to provide the best service. Not all proposals are the same. The realtor that is willing to put in the extra effort, provide a unique service offering and work hard for their fees will stand-out when being compared with the competition. it becomes a matter of how a real estate agent articulates this in a proposal. So what did the owner evaluate?
Here are some insights in the evaluation criteria that the owner felt was important to their needs when selecting their preferred realtor partner:
Evaluation criteria included:
How many sales has the real estate agent made in the suburb in the last 2mths ?
How many buyers does the real estate agent have in their database looking to buy in the suburb & at the price the owner is after ?
How many open houses is the agent currently managing ?
What has been the real estate agent's off-market sales results in the last 3mths - this will give you a good indication of how good their client database is.
What is his average days to sale - this will help you determine how good the agent is at selling a property, how hard they work and how efficient their processes are.
On average,the real estate agents in the proposal phase, were going to charge $5,300 in marketing cost. The real estate agent selected agreed to waive all initiate marketing fees except for online costs = $300
The real estate agent started at 1.65% commission, through the evaluation process the agent reduced his fee to 1.25% for the first $1m, then 1.45% over $1m. Based on the sale price achieved this saved the client $4,020 in commission fees.
Total saving was $9,020.
If you are thinking of selling your house unit or investment property, consider using Commingle (www.commingle.com.au) to source proposals from real estate agents as your first round selection criteria. Commingle services are free of charge and can help you secure the best sales plan for your property,from the right real estate agent.