I’m selling my home. Which makes more sense?
As the real estate market slowed over the past year-and-a-half, there has been a business and legal battle being waged for the future of the real estate industry. On one side are the new real estate business models represented by surging Internet property search sites like Trulia, PropSmart, Zillow and others. The phenomenal growth of these businesses and other emerging alternatives to full service real estate professionals such as fee-for-service or discounted commission firms have been competing in a market with more sellers than buyers. At the same time, the Department of Justice has been pursuing the National Association of Realtors® (NAR) and several large Multiple Listing Service (MLS) providers alleging anti-competitive practices. It has been a spirited fight so far and the outcome is still far from uncertain. What is certain is that the Internet and technology-driven changes that are inexorably at work in the real estate industry will play a decisive role in who wins and who loses these battles.
A recent ‘60 Minutes’ segment that contrasted the full service, full commission real estate model with the discount and fee-for-service business model has added fuel to a fire that has been raging for some time.
With all of this controversy, and the widely divergent opinions being expressed, what do you do if you are putting your home on the market (particularly with the slowed US housing market)?
If you are selling you home, there are persuasive arguments to be made on either side of the ongoing argument. Should I use a full-service or a discount real estate firm? Alternatively, should I consider selling my home on my own, using the for-sale-by-owner (FSBO) tools that are increasingly available on the Internet?
In the midst of what some have called ‘the real estate wars’ and with many traditional real estate practitioners reeling from technological change and competitive pressures, comes a spirited defense of using a full service real estate pro to sell your home offered by a California Realtor®. Check it out at Realty Times.