The practice of charging 5-6% commission has been rendered obsolete by modern technology, which has made the process of selling a property simpler and more efficient. Because of this, some real estate agents have decided to provide their services for a flat fee rather than charging sellers a percentage of the sale price. This kind of contract enables the seller to benefit from improved exposure in the real estate market at a reduced charge, whether they opt for the for sale by owner services or complete services at a fixed flat price, but is it worthwhile for property sellers to take this course of action?
We'll provide six justifications for why working with a flat-fee real estate broker can be the greatest strategy for maximizing the return on your property investment.
Saving Thousands of Dollars
A real estate transaction often involves two brokers, one representing the seller (the listing broker) and the other the buyer (Selling Broker). Upon a successful closing on the seller's property, the listing broker receives a commission (between 5 and 6 percent) from the seller. Typically, the listing broker splits the commission with the selling broker. In exchange for a small listing fee, you may eliminate the commission (2–3 percent) that the listing broker keeps, saving you thousands of dollars while still getting the vast exposure that comes with having your home listed on the MLS. Your property will be displayed on literally hundreds of other public websites that show MLS listings, like realtor.com, with our Broker Reciprocity system in place. This increases the likelihood that you'll find a buyer who isn't being represented by an agent and saves you thousands more in commission fees (you can do the calculation). Getting your home registered in the database that flat fee brokers will offer you access to is the difficult part.
Promoting the property
Once your property has been listed on the Multiple Listing Service (MLS), it will be visible on hundreds of real estate-related websites. In addition, brokers provide all the marketing tools required to sell your house quickly, including the MLS listing, installation of an expert yard sign, color newsletters, social media exposure, email blasts to agents in your commercial area, virtual tours, professional photos, staging, and more.
Not bound by a long-term contract
You engage to a number of terms and conditions when you sign on with a full-service traditional real estate agent, and you are bound into that agreement up until your property sells or you and your agent decide that the partnership is no longer in your best interests. But after you pay the cost to a flat-price broker, you are free to stop working with them whenever you choose. This is a crucial feature since sellers periodically have to terminate their agent due to conflicts, indifference, a lack of progress, or bad advice.
Select the services you need
When you engage with a traditional real estate agent, they will charge you for a variety of services, some of which might not be necessary or may be a part of an antiquated business model for selling a property. However, a flat-rate broker may allow you to pick and choose the services you want assistance with and those you believe you can manage on your own. You may then customize the services to meet your needs and save money by forgoing optional extras.
The flat fee services provide real estate owners the chance to take charge of the selling procedure and gain the same advantages as with a traditional listing. With this choice, sellers can lower the overall cost of selling a house and use the savings as leverage in negotiations to sell the house more quickly than similarly situated residences in the neighborhood.
The most advanced technology and exposure
The one piece of technology that buyers and sellers alike most crave is the MLS, yet it is only available to agents and brokers. In order to assist in pricing your house, they will also employ technology to gather market data and carry out a home market study. The flat fee Brokers provide the same access to many of the same technologies but for a reduced price, and this is a crucial service.
Are you now ready to list your house? Do you wish to take charge over your assets? Are you interested in selling your house to save thousands of dollars? If you answered YES, visit www.hrflatfee.com to learn more about our Flat Fee Full Service at a discount.