If you are selling your home and considering Edina Realty, consider this. Edina Realty, a Warren Buffet corporation, and part of a national real estate conglomerate, made national news for limiting the market visibility of their listings.They pulled their listings from some of the top 5 buyer frequented websites. Our advice to you is to only list your home with a real estate brokerage that includes a full internet marketing plan.
Here is a clip from the Today Show on the importance of using internet marketing to sell your home:
Make sure your real estate broker has included your listing in these top websites:
Yahoo! Real Estate,
MSN Real Estate.
We believe that another reason Edina Realty did this was to collect more double commissions (very profitable for Edina). Commissions are designed to be shared with other brokerage firms representing buyers. However, by limiting the marketing exposure of their listings, Edina likely increased the chances that buyers would contact Edina Realty instead of another firm found through the internet. We believe that this may have resulted in longer marketing times and lower sales prices, but will have been well worth it for Edina because it likely increased the frequency of collecting double commissions. We believe that this is clearly an area where Edina Realty and their clients’ interests diverge.