Not all Realtors are the same.  There is a common misconception that we are all the same and the only real difference is the broker for whom we work. 

Each quarter I track the performance of full service brokers compared to MLS Entry Only and Discount brokers.  The results have been consistent for the past three years, and here are the latest statistics:

Total listings sold according to the MLS - 1,462.  

Full Service brokers - 1,426,

MLS  Entry Only and Discount - 46

Expiration rate - percentage of listings that did not sell

Full Service brokers - 562 or 40%

MLS  Entry Only and Discount - 27 or 59%

That may not look like a big difference, but think of it this way. You have a 50% GREATER chance that your home will not sell if you list with a MLS Entry Only or Discount broker.

List price versus Sale price

Full Service brokers - 101.6%

MLS  Entry Only and Discount -97.5%

So by hiring a MLS Entry Only or Discount broker, on a $400,000 property, you would LOSE 4.1% or $16,400.

A properly priced a marketed home will sell for the highest sale price compared to list price if it sells in the first 30 days on the market.  Pricing a home correctly, along with competent marketing are key.  In the overall MLS, only about 20-25% sell in the first 30 days, so when hiring a Realtor, the question is: is my Realtor in the 20-25%, or in the 75-80%?

To sum up, homes listed by MLS Entry Only or Discount brokers are less likely to sell 50% of the time. When they do sell, on average they are sold 4.1% less than those sold by Full Service Brokers, so even if they sold your home for free, you'd be losing money.