When you hire a traditional listing agent to sell your property you will be charged approximately 5% – 6% of the selling price. Typically speaking, the listing agent usually splits this percentage with the Buyer’s Agent for introducing the buyer and procuring the deal.
With our flat fee listing program, we charge a one time fee for listing and maintaining your listing from start to finish. This means, our one time flat fee automatically cancels out the traditional listing agents side of the fee. We take no commission. The only agent you would be compensating is the Buyer’s Agent. The amount of commission to be paid to a Buyer’s Agent is determined by you, the seller. This amount can be a percentage of the selling price or a flat fee. Most seller’s go with a percentage of the sales price. If the buyer is not represented by an agent, you will not pay a commission. None!
Although, we have no minimum requirement for the amount of compensation that you should offer, we suggest that you offer an amount that is equal to the average commission being offered in your town. If you are not sure how much to offer we can tell you what the average commission rate is in your neighborhood. Typically, 2.5% is sufficient, but you can offer less. It’s a good idea to stay around 2%-2.5% but some seller’s go as low as 1%.
A lot of sellers think offering a higher commission will bring them more agent interest. This is a misconception. An agent cannot generate more potential buyers just because the commission offering is higher. The goal is to pique the interest of buyers, not the agent. With this being said, instead of offering, say, 3% to a buyer’s agent, get more exposure by decreasing your price by 0.5% and offer 2.5% to the buyer’s agent. If the price is right, the buyer will find you without representation.
By working with us you will save thousands of dollars. We guarantee it!