Realtors v/s Online agencies

**vijendrasnv** · 06-08-2010, 05:44 AM

Actual realtors charge a commission for sale of the house which is derived from the proceeds earned from sale of the house property. The home owner can therefore avail of the expertise of online agencies to circumvent the six percent mandatory commission and get a fair offer for home foreclosure sales.

Online agencies operate with a ‘We buy Homes’ motto offering the owner a fair price for the property. A home owner has the facility to enlist the services of agents which purchase homes for sale in Connecticut and various other areas.

**markbrian** · 06-08-2010, 07:32 AM

Originally Posted by vijendrasnv

six percent mandatory commission

By US federal law there is no set, customary or mandatory commission amount and it should not be implied/stated that there is!

**sophieplaya** · 06-08-2010, 08:36 AM

I do not understand, what is the difference between an online agency and a Realtor?

**markbrian** · 06-08-2010, 08:50 AM

Very good question sophieplaya!

It is quite possible that the online agency is not a licensed agent but just someone with a website! There is so much more to real estate beyond just sticking an ad for a property on the internet! While having a good internet presence is important, I would think anyone looking to sell their property would want a local, licensed, highly experienced agent.

A licensed agent will be looking out for the best interests of their client and working to make sure they get the best price and terms when buying or selling. It is very important to find out if the person you are dealing with is actually licensed in your area and a member of the local MLS to ensure the maximum number of local buyers and their agents are aware of the property you have for sale.

**sophieplaya** · 06-08-2010, 09:07 AM

I couldn't even imagine websites without a licensed agent behind!
For me the webstire was just like a shop.

**markbrian** · 06-08-2010, 09:14 AM

There are plenty of websites to advertise on that do not have a licensed agent running them. Advertising or marketing is a small part of what an experienced agent will do.