The concept of the flat fee is relatively new to the real estate market but has gained momentum in a short time because of the advantages it offers its clients. Something traditional real estate fails to do.
So why is the flat fee model better than the traditional model?
While traditional real estate brokers tend to be very specific with certain aspects of selling a house, which may result in a delay in the sale of the house. However, you can simply avoid this via a flat fee broker. With flat fee brokers, sellers can have more freedom over their asking prices and selling strategies. This ultimately will result in a hassle-free way to sell their house quicker.
The other advantage that the flat fee model has over the traditional model is low cost. Flat fee brokers, as the name suggests, charge their clients a fixed price, unlike traditional brokers. Traditional brokers earn commission as a percentage of the selling price of the house, which is mostly greater than a flat fee (there was even a lawsuit about them being so high). A good example would be HRflatfee.com. There are no hidden charges or no increases in the prices if the property ultimately becomes more expensive. In simple words, you get what you pay for, and you don’t even pay a lot.
What should be your pick?
So, while both of these models have their advantages and disadvantages, if your ultimate goal is to spend more time and money on your property and not on the real estate broker, we will prefer the flat fee model.