The term “concierge” once referred to the level of service you’d receive when staying at a 5-star hotel. 24 hours a day, a friendly face is there, striving to provide you with anything you need or want. They refer you to the finest restaurants, arrange travel services, and even get you tickets for local events and attractions.
Over time, other industries took note and wisely began incorporating “concierge-level service” for their clients. However, the word has been thrown around so much that it’s hard to know what to expect anymore. For example, many real estate agents proudly offer “concierge service.” What does it mean when selling your home?
Different Brokerages Offer Different Levels of Service
First, let’s take a quick look at how the industry works so you can know what to expect. A real estate broker is licensed to work independently and can own and manage a brokerage. Often, they will hire other agents to work under them. A brokerage can be small, ranging from as few as one or two agents. Or they can employ hundreds of staff members, including receptionists, administrators, and a team of real estate agents.
Each firm will offer a different level of service.
Discount brokerages can handle the paperwork and get your home on the MLS®, but you’re primarily on your own from there. Others provide complete turnkey systems, where they help you prepare your home, negotiate with buyers, and advise you right through to the close.
A large real estate team can provide exceptional service. However, since you may not deal with the same person from start to finish, you likely will not receive “concierge-level” service. For that, you must typically work with a small team or solo agent who will oversee every aspect of your transaction.
What’s it like when selling a house right now? The following posts will fill you in:
- A Guide to the Current Peterborough Housing Market
- Need to Sell Your House in Peterborough? Here’s What Buyers Are Looking For
- How to Sell Your Investment Property When You Have Tenants
Each Agent Is Also Unique
Every individual is different. And with over 82,000 real estate agents in the province, you will encounter every type of personality and work ethic imaginable. Most agents and Realtors® aim to provide a positive experience for each client.
However, at the highest levels, you have a dedicated real estate agent who is always available to streamline your transaction and assist you every step of the way.
You’ll be on a first-name basis and will never feel like “just a number.” The services of a concierge agent are fully customized and personalized to your exact needs.
When Concierge Service Is a Must
When deciding if concierge service is for you, ask yourself the following questions:
- How involved do I want to be in the process of selling my home?
- Do I have access to other professionals who can help me during my transition?
- Have I ever sold a home before?
- Am I prepared to handle the ups and downs of an uncertain market?
Most homeowners will only move a few times in their lives. When you’re not dealing with the real estate market daily, selling your home can feel overwhelming and even a little risky. What if you go through all that trouble and you don’t find a buyer? Even worse, what happens if something goes wrong at the last minute, and you’re left scrambling to ensure your transaction closes? In a fast-changing market, anything can happen.
A concierge-level real estate agent takes nearly all of the worry away from selling your home. They are well-connected and can recommend reputable contractors and experts to handle everything for you. If you prefer, you can even enjoy a hands-off transaction and allow vetted professionals to clean and declutter your home and make all of the necessary repairs and upgrades. Your concierge agent will advise you whether or not you should stage your home and will guide you when offers begin to come in.
Relocating to Peterborough? Here are just a few things you have to look forward to:
- Top Activities for Kids in Peterborough
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Is a Concierge Realtor® Worth It?
In most industries, you typically pay more to receive a concierge level of service and customization. For example:
- A hotel with a concierge charges more than one without.
- The value of a unit in a condo building goes up dramatically when there is a concierge at the front desk.
However, the situation is different when selling your home. The expert guidance of a dedicated Realtor® nearly always leaves you with more money after your transaction closes. The Canadian Real Estate Association is the counterpart of the American National Association of Realtors®, whose research has shown that agent-assisted sales can add as much as 26% to your final selling price. Now remember that real estate commissions are 5% to 6% at the most.
What does this look like after your sale closes? Imagine earning $750,000 by selling your home without an agent or using a discount brokerage. You’ve saved between $37,500 and $45,000 in commissions. That’s something to celebrate, right?
Now consider that a full-service real estate agent can add dramatically to the value of your sale. Even if they sell just 15% higher, you would gross $862,500 from your sale.
When you subtract a 5% commission ($43,215), you still end up with $819,285. That’s nearly $70,000 more than you would have made on your own. That difference will go a long way to helping you take the next step in your journey. And it’s about more than just the money. Selling your home with a concierge Realtor® means less work, less stress, and a far more enjoyable experience from beginning to end.
We have served Peterborough and Kawartha Lakes since 2018 and are happy to guide you through each step of the selling process. Do you want to know more about our services? Contact us today with any questions by emailing team@jeffandkatie.ca or calling 705-243-9797.
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