What is it?
Discount brokerages come in a few different forms, but the premise is largely the same: Discounters aim to save people money. They count on consumers either not needing full service, or not understanding the risk of buying or selling a home without full service representation.
What Do I Need to Know?
Our team has extensive experience working for discount brokerages (which is why we choose to be full service). Some discounters lure consumers with low fees or commissions. Some are up front about their limited services, while others claim to provide the same service as a full service agent. The discount option may work for some, but be aware that no discounter provides the same service as a full service agent. Many consumers express frustration with their discounter, especially when it comes to having someone available to take the time to go over every step and explain all of the options for their situation. Often times, discounters force their customers to work with several different agents throughout the process, many with no knowledge of the client or their home prior to meeting.
The truth is that there is no magic way to cut costs without cutting services. But for those who don’t want full service, the discounter may be a viable option.