All commissions are not alike

Real estate agents have different commissions. No two are alike. Even if two commissions are both the same percentage, there are many, many variables. What are you paying for, anyway?

You're paying for your agent's expertise as a professional, much like that of other professionals, like lawyers, doctors, interior designers, and other business people. It's not a minimum wage job, in other words. But if your agent is working as hard as the agents in our office, once their expenses are paid to sell your property, some of our agents' incomes has been as low as 38 cents an hour after paying all expenses. Can you imagine having an agent put that much time into selling your property? They do! So, what are some of the things we do for the commission we earn?

I haven't learned it all yet, but here are just a few things, and maybe you agents reading this will add to the list with your comments and feedback...

~ Advertising expenses, how many times an ad goes into the paper, and how much each ad costs. (Our local newspaper ain't cheap.)
~How much time your agent spends talking to other agents and potential buyers about your property.
~How many open houses your agent has for you.
~The ad costs for the open house newspaper advertisements.
~The costs and time involved in researching to give you an accurate market value (the Current Market Analysis or CMA) of your home.
~Research often involves contacting the experts at City Hall to figure out sewer, water, and easement questions.
~Putting a "for sale" sign together to put on your property. Yes, it actually takes some time to do that, and then go and place it at the right spot for buyers and agents to see it.
~Phone calls to you to discuss the property and expectations of pricing and commissions with you.
~Emails back and forth with sellers to answer questions that come up throughout the days and weeks of marketing your home.
~Time helping you to know how to best prepare your home for each home showing.
~Time and money in preparation of documents to list your home.
~The knowledge a real estate agent knows about the documents you need, by law, to sell your home, is invaluable. This includes the purchase and sale agreement, and there is one other that is mandatory. What are all these documents? If you don't know, you need to make sure you can count on an agent who does know.

We, at Gary Mann Real Estate, do know. Even the rookie knows. :)

Whose turn is it to fill out the Seller Disclosure Statement?

It's always the Seller's responsibility to fill out this form, and every seller must fill one out.

Why? It is for the Seller's protection, and it is also for the real estate agent's protection. It's about liability.

What if the Seller doesn't know about whether or not a certain condition exists on his or her property, like if there are any known problems or repairs needed on the property? A seller is to fill out the form to the best of their ability. You can research the information by finding out more from the title insurance records or calling City Hall, or just by looking through your property for those items.

Also, if you want to sell your property on your own, a "FSBO" (For Sale By Owner), it is Washington state law that you give the Seller Disclosure Statement to your buyer.

You learn something new every day, hm?