Commission auctions allow home sellers to save money. With the typical home purchase, the seller must pay 6% of the property value to the agent. With a listing commission auction through estaterebate.com, the seller will receive discounted commission bids from local real estate agents.
Savings
The savings in commission can be substantial for sellers. If the value of the home is $500,000, the savings can amount to $7,500.
Discount
Traditionally, home sellers have either selected the first agent they contacted or made just a couple of inquiries. Technological advances and innovative companies, like estaterebate.com, have changed forever the manner in which sellers choose agents. Since real estate agents bid for business in commission auctions, sellers can get better deals from local agents.
Best Bid
When sellers have a system in which real estate agents are bidding for their business, the process works to the advantage of the home seller. The commission auction gives sellers the opportunity to review various agents and choose the best bid for them.
Choice
A home seller is under no obligation to choose the highest bidder. The agent’s level of experience can be an important factor in performance. Sellers should have an overall view of every bidding agent before making a final decision.
No Obligation
Even after a seller has chosen an agent, the initial choice means only that the seller wishes to be contacted by the agent. If the seller reconsiders his choice after that first contact, there is no obligation to continue with that specific agent. Commission auctions come with ‘no obligations’ that restrict the seller’s chance to make the most profit.
Private
When a seller creates a commission auction, local real estate agents are notified with general information about the property in question. Yet the bidding process is anonymous and agents do not have access to a seller’s personal or contact information. Agents will never be able to initiate any contact unless the seller has accepted the bid.
Fast
It takes just five minutes to create a commission auction at estaterebate.com. In addition, all auctions have an initial time frame of seven days although this period can be extended if the process requires more time.
Easy
Once the commission auction is created and the agent is chosen, the process continues to be the most stress-free way to handle selling a home. The agent and the seller will work out the details of the agent agreement and start the marketing of the property. The deal will conclude at closing at which time the seller will be pleased to receive a considerable saving on commission. estaterebate.com helps sellers to maximize their savings.
Customized
Although personal information is not released in the bidding process, the general property details are given to agents. estaterebate.com has organized the submission form for creating the auction so that sellers can find agents with a strong interest in the property. Sellers must note three features that make the property stand out above the others. This information is invaluable in matching sellers with real estate agents who know buyers looking for a specific type of home.