Friday, February 14, 2020

Non-Local Firms Listing Properties

There has been a disturbing trend with out of area brokerages listing local properties. Although a brokerage anywhere in Washington State can list a property anywhere in the state, this business is very local. Many of these so-called discount brokerages are listing properties and not putting them on the proper local multiple listing service. A broker in Seattle is likely a member of the NWMLS that serves a large portion of Washington but does NOT serve as the local MLS for SW Washington and Vancouver. This area uses the RMLS. If a local house in Vancouver, WA is listed on NWMLS and NOT the RMLS it will not get the proper exposure in the local marketplace. In fact it is safe to say that 90% of the local Realtors® will not see it. 

This is a gross disservice to the seller who is likely to get far less attention than their home deserves. Furthermore this area is uniquely different than other areas in Washington state. I have seen homes horribly priced that sold for tens of thousands less than they should have fetched because a Realtor® based 150 miles away didn't price it right. That seller may have saved $5,000 on the commission but they left $30,000 on the proverbial table.

Real estate is a highly localized business and sellers are well advised to hire someone local. Sellers ought to make sure their home is at least listed on the local MLS. In the Clark County, Vancouver area we use the Regional Multiple Listing Service (RMLS) which has its SW Washington office in Downtown Vancouver.

Some of the worst offenders of this out of area listing debacles, are large national internet companies who are simply interested in churning commissions and not giving the seller the best opportunity to receive the highest and best offer on their property.

The old adage that you get what you pay for is alive and well in the 21st Century. Sellers often step over the proverbial quarter to pick up a nickel. With real estate that is not a 20 cent mistake, it can be a twenty thousand dollar mistake. Seller beware, a good Realtor® does not come cheaply, but that Realtor® will represent your best interest and help you have a much better outcome.

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