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Questions and Misinformation about “Discount Real Estate Services”

HOW ARE We SO DIFFERENT?

Florida Luxury Broker Realty provides the same real estate services as thousands of other real estate companies. We choose to charge lower, discount Realtor services because we can and that is our business model. The momentum of change of commission structures in the national real estate industry is increasing and inevitable. While the traditional business plan of high commissions still dominates, we are a company that puts clients ahead of commissions and saves home your equity while still being full service professionals and Realtors.

 

FAQ’s

One of the first things we notice when researching “Discount Real Estate Services” is the defensive pushback by some in the industry against this business plan. Of course, salespeople want to earn their high commissions. Let’s put to rest some of the questions and concerns that come up.

01

Are you too busy to provide the same level of service? 

Many times real estate office owners/brokers are great salespeople but not good business people. Florida Luxury Broker Realty starts with an experienced businessman and manager as the Broker. Our foundation is our business plan and operations, which support the success of our professional services and most importantly, our clients.

02

Do you offer less service?

Florida Luxury Broker Realty offers full-service real estate brokerage. This includes access to the MLS and therefore all of the online real estate platforms from all real estate companies and search engines.  The job you are paying us to perform includes all the after contract duties like scheduling no inspections, directing contracts and communications, and highly professional negotiation on your behalf. We charge less because we can. We are more efficient, streamlined, experienced, and more client focused instead of commission focused.

Our contractual fiduciary duties and State statutes along with our own high code of ethics guide our business practices.

We are also a local, Lee County based business, not some online company selling your personal information.

03

Are discount brokerages less professional?

Broker Michael Nolan and Florida Luxury Broker Realty are dedicated to integrity and professional real estate service. Expertise in real estate involves being an experienced negotiator along with market and transactional knowledge. Providing lower commissions for clients does not require ignoring professional standards and the ethics Realtors must adhere to. 

04

Do discount brokers refer clients to outside agents?

There are national discount brokerages online that will collect your personal information and sell you to a hungry agent in your local area. No, we are not that type of real estate company. You will work directly with the 20 year veteran broker Michael J. Nolan. Your private information is never released, sold, or misused in any way. While the real estate industry has become a big tech industry, we strive to be just as trusted as your accountant, doctor or attorney. They would never divulge or misuse your personal information, neither will we.

05

Will buyers agents be upset?

Most Realtors are professionals who also understand the changing real estate industry. Currently, homes are selling with decreased commissions, but not typically with a listing office having it as the business plan. For agents who might be upset, they are likely the ones who work within the outdated, high commission companies with such enormous overhead that they cannot pay their bills without collecting your home equity.

If it is a concern for you, we offer you the option to offer a percentage-based commission of your choosing to an outside buyer’s agent. We don’t consider this a concern.

06

Do I need to handle my own negotiations or anything else?

We are a full-service real estate company. Some national discount brokerages make you take your own buyer calls, show your house, negotiate for yourself or take your own pictures. That’s our job. Showings are arranged on your schedule. Buyers and buyer’s agents are screened for your safety. Purchase offers are presented and explained immediately and very clearly.  Signs and door lockboxes are available and your option. Broker accompanied showings are available as well. That is all the job of a Realtor and part of what you are paying for. 

A few misconceptions about real estate licensees is that they can advise you on legal issues, alter the sales contract in ways other than basically filling in the blanks and crossing out or adding basic provisions. Agents are not home inspectors and should not be overly involved in a buyer’s inspection. Agents do not process the closing or title work in your transaction, which is performed by a real estate attorney or a title company. The agent and broker are the professional facilitators of transactions only. 

07

Is professional photography included?

Some salespeople offer outsourced photography as a reason to work with them. Michael Nolan has been taking professional real estate photography for over twenty years. Photos taken by Michael rival most any by a professional photographer. If you are a professional photographer or know one you want to use, you are welcome to use your own photos. There are specific professional standards that are highly recommended and required for marketing and even for your home safety. Be assured that any marketing photos will be professional and of the highest quality before Florida Luxury Broker Realty uses them to market your property. 

08

How do virtual tours, videos, and open houses work?

Virtual tours and all visual marketing are critical to selling your home when almost 100% of buyers begin their search online. Virtual tours are generally built from the photos we take. Videos are good, yet sometimes really not the best way to market a property depending on the type of property, location, lighting, and condition. For an extraordinary luxury home, we would recommend a professional video producer and talent to avoid the embarrassing, amateur Realtor videos so often made that typically harm the home marketability. 

Open Houses are not as common as in the past due to security and pandemic reasons. We are not opposed to open houses, but it is something we would discuss on a home by home basis and is completely up to you. 

09

How much money will I save?

Percentage based commissions are supposed to be flexible, but there is a typical range that has become customary. Let’s say for example you own a home worth $500,000. A 3% listing side commission would be $15,000 to your listing agent. The 3% to the buyer’s agent or your listing agent if they work as a transaction broker is another $15,000. That is $30,000 just in commissions you would pay to sell your home. 

In this scenario, you would save up to $20,000, and no transaction fees of hundreds of dollars, on the sale of a $500,000 home with Florida Luxury Broker Realty by paying a flat fee of $5000 on the listing side and $5000 on the buying side. $10,000 for the entire transaction rather than $30,000 plus office fees.

If you sell a million dollar home with us you will save up to $50,000 in commissions. 

10

How do you charge the same amount for any home value?

Believe it or not, from a Realtor’s professional duty standpoint, there is no real difference between selling a multi-million dollar home and a $150,000 home. We consider luxury homes easier in many aspects. Aside from advanced communication, seller logistic, general security and marketing needs typically found in luxury home transactions, the professional duties of a Realtor do not vary based on the sales price. Why should the commission vary so incredibly widely in this lower cost, technology driven industry? At Florida Luxury Broker Realty we treat everyone like a million dollars regardless.

11

Do you have a team?

Teams are promoted by certain real estate companies for reasons that rarely benefit the home buyer or seller. There is fierce competition in the real estate world to be the largest or the fastest growing company. Part of the responsibility of a team is to recruit brand new agents and offer sales training to make them produce revenue for the team leader and the company as a whole. What does that mean for you? Your potential home buyers are typically handed off to less experienced buyers agents who may or may not be able to handle writing or negotiating your purchase offer if they even get your home to that point. 

That is why at Florida Luxury Broker Realty we are not trying to be the biggest or everything to everyone in the real estate world. We focus on professionally listing, marketing, and closing on your home for your best interests, not just commissions. We don’t spend our time training inexperienced agents in how to use dehumanizing sales scripts on you or having office sales meetings. We are already educated professionals who know our professional duty is to you, not the “pyramid” of salespeople in our office. 

12

Why has that other company sold so many more homes?

There are indeed offices that are more established and have sold many more homes than us. Those agents will be the first to tell you that. We are a new office. The principal broker and owner of Florida Luxury Broker Realty, Michael Nolan, has sold homes for decades in Florida and Indiana. He has represented luxury home builders, built custom homes, sold countless existing homes in all markets and price ranges.

On top of that, he has been a managing broker for Century 21 receiving their international management training. He trained many agents and negotiated contracts for numerous agents over years of service. Michael also had time to create a prolific international industrial equipment corporation which he recently sold himself.

Michael holds some of the top educational designations from the National Association of Realtors and is a strong proponent of advanced education in the real estate profession over just intense sales training and memorizing scripts.

Florida Luxury Broker Realty is a new office, but your broker is one of the premier business professionals in all aspects of real estate and negotiations. When you are paying for a professional service, you should have a professional working for you. Contact Us anytime.