There are many different ways agents and brokers work. Below are the three main ones.
Full Service Agents
Full service agents typically handle all of the primary tasks involved in the selling process. The main tasks usually include analysis, pricing guidance, marketing, lead follow up, negotiations, contract work and post settlement follow up. Some tasks are outsourced (photography and staging, for example).
Referral agents are companies or agents that work to collect "leads"and then pass them along to agents for a referral fee (typically 25-35% of the commission). They do not do the selling work; rather they have a side agreement in place with member agents. The pre-arranged referral fee is paid out of the seller's commission, and will be sent to the Referral Agent after settlement.
Limited Service Agents
Limited services agents perform fewer tasks than full service agents, typically for a reduced commission. These limited tasks are pre-defined in the listing agreement between the agent and the seller. Often the seller is responsible for engaging with the buyer or buyer representative regarding showings, home inspections, and appraisals for example.
How I Work
I provide full service at a reduced rate through efficiencies I have developed over the years with low overhead. I operate as a full service agent and handle the following tasks for my clients:
pricing/market analysis * property design/staging * house knowledge (systems/general home maintenance) * marketing * lead management/follow up * negotiation/psychology * contracts/disclosure guidance
I firmly believe that it is in my client's best interest for me to apply my 21 years of experience to these specific areas. If you hire me, you get me. For every crucial step of the process.