The Latest Wrinkle In Limited Service Companies

Beau, it wasn't so much of matter of the helper being licensed or not.  I would bet she does have a real estate license, my question was did she have one in Virginia.  

Jennifer, you're right in that most limited service companies do have you contact the seller.  These guys are doing it differently, though.  While they are offering a pared down menu of services, they will help a seller evaluate and negotiate a contract.  This is a lot better than most of them who take money and enter the listing on MLS, then the seller is on his own.  But the higher level of service means that the service providers have to be more careful about meeting various state licensing requirements.

Don, as the title suggests, this is "limited service" with a new wrinkle that makes it less limited.  I have spoken to Hackensack, and I gotta say they are handling this a lot more competently than many of the "full service" agents working in the area.  Also, they do an excellent job of informing their clients about the nature of their services.  The whole point is, are they properly licensed in the Commonwealth of Virginia?  Or for that matter, in the other many states where they operate?  Help-U-Sell offers a menu, mostly bare bones, through local brokerages around the country, probably using some sort of franchise agreement. These guys offer more service but all out of Hackensack.

And Danny, yes, that is the big question in this post!

Norma, we've been seeing these for years.  They are sort of hybrid FSBOs - they do it themselves but pay someone to put it on MLS.  It gets them the additional exposure to the market but lets them control the other marketing and negotiating.

Kevin, from my point of view, it's working pretty well.  They return calls faster than I do, they got me the documents I needed within a fewe minutes of our conversation, and their client, the seller is happy with them.  And I guess that's the bottom line.  From where I sit, they are doing what they said they would do.  

Ken, the helper was offering to help with the negotiations because they include that in their limited service package. And I've had agents from large, well-known area firms that have come into DC without a license then gotten a colleague in their office to put their name on a contract for them.  And again, my only real question wasn't about competence - if they were just faxing disclosures there would be no issue.  This is a new business model where everything is done from a remote location.  Some of us are doing the same thing from our offices in NW Washington.  These guys happen to be a little more remote!

Kay, let's hope other people do too!

And Margaret, I agree.  The ones that survive are the ones that can change to meet the changing consumer demand - and the ones that do what they say they will do and operate in a fully legal manner.

Sharon, I have no trouble with that distinction.  And that's an issue that can come up in a transaction where a seller is fully represented.

John, this is about the marketplace in action.  And I think this business model is an interesting one.  The seller in this situation seems pretty able and willing to do his own marketing, handle showing arrangements and even negotiate on his own behalf.  And big factor here is "willing".  Would his neighborhood expert have done a better job?  I really am not sure.

Kris, and when we represent our buyer well, the under-represented seller might find that there are some false economies.  But there are a lot of full service agents who don't do a whole lot better than a seller on his own.

Kevin, actually, didn't Hackensack become a sort of chic suburb of Manhattan a few years back?

And James, you're right.  They're fine as long as there are no issues.  And the same could be said for some of the fully licensed agents in the area.