In today's challenging housing market, sellers could only hope for a contract in 72 hours. Alot of reason to celebrate by then. However, after looking through the settlement statement and figuring out how much you may net towards the sale and how much your realtor (R) will walk away as payment, some sellers do ponder on that line item #700 for a while. If your realtor(R) sells your house in 72 hours, is he/ she worth the fees charged?

In the past, when a contract is delivered within 72 hours, some of Sellers' feel that the realtor(R) that they hired did not market as much, or spend as much time on the listing, hence should not be paid as much as promised. Should that be the case?

Let me share with you some thoughts (coming from a Realtor(R) - not to justify the paycheck, but to objectively state the fact for the record.)

A Realtor(R) who can produce a contract in 72 hours are a few and far between. If you could break down into a fine-tune list of what a real estate fee is made of, here would be a pretty complete list right up to listing the property, not including time for follow up once the property is on the market:

TIME FOR SPECIFIC SELLER PROPERTY

• Time to perform market analysis
• Time to visit/ preview homes within a target area to check out your competition
• Time to go prepare for the listing appointment
• Time at the listing appointment

TIME FOR MARKET STUDY

A good Realtor(R) is one who constantly work the field - not to necessarily door knock or cold call for more business but to actually visit homes and communities in the area he/she works in. When a new listing comes on the market, he/she knows about it, looks through the details of the listing and makes a mental note of it.

TIME TO PROCURE A LISTING

Realtors(R) use different strategies to procure clients for real estate transactions. Most of these strategies must be done repetitively in order to see success. These take time. If you care to understand how Realtors(R) figure a value to their time, you might enjoy reading, How Much Are You Worth an Hour?

If all of these cannot convince you of why your Realtor(R) deserves the paycheck that he/she does when a house sells in 72 hours, I hope this one would:

You would hope that you will not pay your Realtor(R) the weeks and weeks that he/ she spend to market your property and you would hope that he/she would not spend too much money to print thousands of marketing flyers for your property. What you are paying for is the knowledge, experience and intellectual property of your Realtor(R) who knows how to get you the contract in 72 hours. When you hire a high-octane, high-production Realtor(R) who knows how to sell and knows what it takes to sell, that's where 95% of where the value comes from. The rest like flyers are just very minor.

A successful listing agent/ Realtor(R) who can produce time and time again is worth much more than the fees he/she charges. A short listing that leads to a successful sale generally causes the least amount of inconvenience to you and your family. Every Seller that has sold a house before know the pains of putting a house on the market while trying to live in it. It becomes even more challenging when you have little ones in the house. Hence, the faster you receive the contract, the faster you could move on with the sale, hence the sale.

So, the next time you ask your Realtor(R) How Much Do You Charge? Think again about what you are paying for. Time, convenience, knowledge, experience and intellectual property are the answer, not flyers, real estate sign and the lockbox.

If you are thinking about selling your house located in the greater Dallas metroplex, and wonder how your specific real estate market is doing, here is a quick synopsis of our North Texas real estate market. The numbers of transaction are not as good when compared to 2007, and the total real estate value is down from last year, but all in all, we still have a fairly strong real estate market. The mortgage industry is tightening its lending practices and buyers are screened more thoroughly, with in return produce better/ higher possibilities of closings when a sale is pending.

If you wonder if this is a good time to sell, the answer really depends on your situation. Contact me if you would like to discuss your specific situation in greater detail. In case you are wondering, good houses continue to sell in less than 30 days and yes, some are receiving multiple offers. Read also, You Say The Market Is Down, I Say Multiple Offers.

Much to your success.

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Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

I proudly serve and sell real estate in the northern suburb cities of the Dallas metroplex. If you are thinking about purchasing or selling your home in neighborhoods of Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me immediately.

It is a competitive market, hence it is important that you choose to work with the realtor who knows these communities like none other. I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. If you care to be on your way to a successful closing, contact me immediately to see how different my proposition will be.

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Copyright © 2008 by Loreena Yeo (3:16 team REALTY). Sold in 72 hours. How Much Is Your Realtor(R) Worth In This Transaction?