Four Key Reasons To Consider Flat Rate Realty When Selling Your Home
If you are a first time home seller, you may not know that listing agents usually charge a percentage of the sale price of your home for their services. This is their commission payment.
You’ll pay this to the broker (the company the agent works for) when your home sale closes. The broker then splits this between itself and the agent. The agent is ultimately getting paid rather well, in most cases. This arrangement can result in a pricey outcome for you. Flat rate realty listings have many advantages over the standard commission fee structure.
Flat Rate Agents Want to Find a Buyer Quickly
Flat rate agents make their money by turning more properties, at a faster rate. An agent working on commission might try to talk you out of a fast sale with promises of a better price to come. However, they can’t guarantee that. Of course, as we say above — you want to achieve the best possible sale. Remember — it’s always entirely up to you whether or not you want to accept an offer.
A flat rate listing agent will help you sell your home in the shortest amount of time, at a fair market value to maximize your profit. Flat rate listing agents provide a more consultative approach to selling your home. They make sure you are confident in your choices and know what’s happening, every step of the way.
You Can Budget With More Accuracy
With a fixed and flat rate realty, you know how much you’ll be spending upfront. You can make a fully informed decision based on your own budget. Not relying on the unknown value your agent will achieve. If the traditional agent sells your property for less than you were expecting, their percentage-based commission can still be quite high. This might affect your budget by costing you more than you expected at a lower selling price.
It’s important to know how much money you can reasonably expect to have after the sale. A flat rate can help you calculate your potential profit.
Flat Rate Realty Services Are More Fair
Why should the sale of a specific home be based on a percentage fee anyway? It’s the status quo, but when you stop to think about it, why should an agent earn more for selling a $400,000 house than a $200,000 house?
Say they advertised the first house in all the same places and gave as much attention to each house. Why do they get twice as much commission for the $400,000 property? If they paid more attention or provided better marketing to the more expensive property, does that seem fair to the owner of the less expensive property? All sellers should receive the same level of service, regardless of the value of their property.
With a flat rate realty listing agent, like VerraTerra, the seller pays a set fee, regardless of the price of your home. All customers receive the same level of attention and service. It doesn’t matter if you’re selling a one bedroom cabin or a mansion. You pay what you pay, and that’s the end of it.
It’s Almost Always Less Expensive
In most cases, listing your home with a fixed rate broker, especially in King and Snohomish counties, saves the seller a lot of money. Who doesn’t want a bigger profit on their home sale?
The current median price for a home in Snohomish county is over $400,00. Let’s say you sell your home for $400,000. At a 3% rate for the listing agent, which is typical, you’re handing over $12,000 in commission. (NOTE: The listing agent usually gets 3% commission and the seller’s agent usually receives another 3% commission, which is separate from the listing agent commission.)
That’s a big chunk of your potential profit on the sale! A flat rate fee could cost you only a fraction of that figure. In fact, clients listing their home with VerraTerra have a median savings of over $6000.
The problems with a commission model are rife, the odds are against you, and most agents and brokers do not want to change the way they do business. That’s why we believe in a different way – the flat rate realty model.
Find Out More About Flat Rate Realty Today
Are you ready to ditch the listing broker commission and get yourself a much fairer deal?
We provide end-to-end service and support for sellers. Or sellSmart! Listing Plan gives you high quality and effective marketing for a fair and justifiable cost that isn’t based on the value of your house.
Contact us today to find out how much more cash you could put in your pocket by listing your property with VerraTerra.