Whether you’re a first-time home buyer or a seasoned seller, the world of real estate can be a bit daunting. Looking to peel back the layers, we sat down with Bailey Dolian, RMCC’s President and Employing Broker, and Sarah King, Managing Broker, to answer a few questions and offer some transparency around the industry and how RE/MAX of Cherry Creek works.
What makes RE/MAX of Cherry Creek different?
Sarah: RMCC is going on 43 years in the real estate industry. Our brokers have weathered countless market fluctuations and withstood the test of time, harnessing their experience to provide ethical, transparent, and service-oriented support for buyers and sellers. Our brokers take pride in their seasoned ability to counsel, protect, and empower their clients.
Bailey: As a group-owned brokerage, 50+ of our agents share the responsibility of running RMCC and maintaining its respected role in the real estate marketplace. Fueling a culture of collaboration and accountability, this type of structure allows our agents ultimate control over their own professional goals. There are no mandated performance quotas required by management, which prevents a sense of desperation for agents to close deals just to preserve their employment.
What questions should you make sure to ask your broker?
Bailey: A true real estate professional should be able to articulate their value and justify the fees they charge. Not all agents are created equal, and their commission rates should reflect that. Be sure to ask your broker about their expertise amid changing market conditions and how that impacts how they counsel their clients.
Sarah: For buyers, don’t be afraid to ask for clarification about how your agent will be paid for their services. For sellers, make sure you understand the pros and cons of offering success fees to buyers’ agents. Clarify what types of services your broker is offering, including: are they paying for professional photography and staging, or will those be additional expenses?
What are some common misconceptions about broker commissions?
Sarah: A statement I hear a lot in that real estate brokers make too much money. In reality, while there may be agents out there who make more than they should, choosing the right professional to represent you throughout one of your biggest financial transactions is worth every penny. Skilled, honest brokers that perform with integrity can save you thousands of dollars and hundreds of headaches.
Bailey: It’s easy to forget that real estate brokers are small business owners themselves. Holding and maintaining a successful real estate practice comes with a slew of risks, financial and otherwise. Real estate brokers that operate full-time and commit themselves to excellence are constantly investing in themselves and their continuing education.