When selling a house, it is understood by sellers that they are going to pay a 6% seller’s fee at the end of the transaction. Usually, this fee is split in half between the agent representing the seller and the agent representing the buyer. There are other options available, though. One of these is flat fee real estate brokers.
Instead of a varying commission charge paid at closing, flat fee real estate brokers charge an agreed upon fee that doesn’t change regardless of the total sale price. This could be a great option for some sellers, depending on their situation. Here are some reasons you should consider using flat fee real estate brokers for your next home sale.
Overall Cost of Service
This is the most common reason. Apart from listing the home yourself, which can be a risky and fruitless practice, flat free brokers are the cheapest way to sell a home. Typical fees with a traditional real estate agent are 3 to 6%. This is hugely more than the cost associated with a flat fee broker.
Selling Efficiency
When using a flat fee realtor, you are just paying for the MLS listing. Most of the home selling process is performed by you. This makes it much easier to work around each party’s schedule and move through the negotiation process as quickly as possible. Most sellers using flat fee real estate agents for the first time are shocked at just how quickly they sold their home.
Pricing and Financing
You have much more control over the list price, offers, and negotiations when using this type of broker. You can use the rules you want during the process because you don’t have an agent telling you how they would do it. Of course, this could make the process take longer.
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