Should You Use a Traditional Broker, or Look to Online Sources For Your Transaction?

You may want to consider using online sources for your transaction, if you are in the market to buy or sell a home. It has been widely reported that more and more residents are going this route as the Florida housing market grows more and more expensive.

The pros and cons are clear. Traditional brokers will provide better service, but it cost more. Thus, the conundrum. So. if you are not afraid of filling out some forms and doing some research yourself, you could save yourself thousands of dollars.

Some services may charge as little as $99 (depending on your location) for a transaction, while others may discount the commission on a percentage basis. Such brokers usually focus on the state where they are licensed or based in. So what kinds of things should you look for?

• The most important feature needed to sell a home is probably the Multiple Listing Service (MLS). This database of homes for sale never used to be disclosed if you weren’t licensed, but it’s now widely accessible.
• Your home may also be listed by Yahoo.com, Homeseekers.com, Homeadviser.com and Realtor.com, all widely-used systems that offer pictures and details of houses for sale around the United States.
• Typically, brokers will charge a minimal up-front charge to cover their expenses, along with a small percentage of the final price. This rate will likely be between 0.5 percent and 1.5 percent. They may also knock the percentage down, depending on the value of the home.
• Remember that you are in a position of power, as everything has become negotiable. For instance, one Florida real estate broker lets YOU DECIDE what the buying broker should be paid. If you are able to cut 3 percent off the commission on a $200,000 house, you would be left with an extra $6,000 for yourself.

That’s not all. Online real estate brokers will also save the buyer. With both the selling and buying brokers splitting a 6 percent commission under traditional non-discount transactions, some brokers are now offering 50 percent commission back in the form of a rebate. This works out to about 1.5 percent of the standard 6 percent overall commission.

Of course, there are many advantages to using a full service broker for buying a home. You can research yourself silly online, but when it comes to opening the door of the property and closing the deal, it may help to have a real estate agent hold the key. So if you’re on the verge of applying for a Florida home loan and trying to buy, you have a lot to think about!