The full service option can be a savior for some and not needed for others. It all comes down to time, experience, and peace of mind for the seller.
First – What is the Congress Realty Full Service Option:
Once a seller receives an offer, we review the offer in detail. We fwd this offer to the seller and then call the seller to review the offer. We will answer any questions the seller may have. In addition, we will provide our opinion of the offer and we will point out any pitfalls that we see. Our hope is that we can help reduce the # of escrows that fall a part by warning the seller of what we see in advance. Once the seller understands the positives and negatives of the offer, we will then formulate a response and convey that response to the buyer or their broker. This can be in the form of a counter offer, conversation, etc… it varies on a case to case basis. When an agreement is reached, we do all of the little things… For example, verify the EMD is deposited, ensure disclosures are on time, resale packages are on time, and so forth… In addition, we negotiate the buyer inspection request/response on behalf of the seller. (via the same process as the initial offer, we call the seller to review, formulate a response, etc…) We periodically check in with the lender during the escrow, etc… Prior to closing, we review the settlement statement to ensure all of the #’s are correct prior to the seller signing their final docs.
Second – Do I need it?
If you’ve sold multiple properties on your own, you probably don’t need the FSO option. We are not in the business of trying to sell someone a service they don’t need. However, if you are new to this or simply don’t have the time to deal with the process, we can do everything for you. That said, the most common reason people go with our full service option is peace of mind. They simply want myself or Donnie to review the offer and ensure everything is up to speed. In addition, Donnie and myself have been directly involved in over 10,000 transactions. Rarely, if ever do we come across something we haven’t seen before. The average Realtor(R) is involved in 3-4 transactions per year…. and they charge anywhere from 5-6% for their “expertise”…stemming from their experience…. Very few, if any have more experience than myself or Donald.
We recently just closed on the following property via our full service option. In this instance, Donald was able to negotiate a rent back for the owner so that she could remain in the property while her townhouse was being completed. Donald negotiated the rent down to a number that is well below market rent. In addition, Donald was able to negotiate/acquire $25,000 more than what the seller had told Donald she was happy with.