Our goal is to save seller’s money and to date we have saved sellers over $9 Million in commissions! We do this by keeping our seller’s costs VERY low!
What do you pay? You only pay $397 and you have the choice to decide between 2-3% to offer a Buyer’s agent, as a commission. This is the TOTAL amount of commission that you’re responsible for and only if a buyer is represented by a real estate agent.
What else do we get paid? In addition to the $397 we receive from our seller, we charge a very small commission at closing to the buyer’s real estate broker (never to our seller). For example, on a home sale of $350,000 you may choose to pay the buyer’s broker 3% of the sales price. At closing the buyer’s broker would receive $10,500 and pay us our commission of $399. This commission is common in the MLS and WILL NOT discourage REALTORS from showing your listing. Depending on the sale price of the property we may reduce our additional commission we charge the buyer’s broker. For instance, on a $50,000 sale or a property, we would reduce the commission to $199 we charge the buyer’s broker (again, we NEVER charge you, the seller, a commission).
The only exception is if the listing generated a buyer not represented by a real estate agent, in which case you don’t even pay the buyer broker that 3% ($10,500). We also charge no additional commission since there is no buyer’s broker. In this case, by utilizing our service, you save approximately $10,500 to $21,000 depending on if you sell it with or without a buyer’s broker finding a buyer.
This small commission we charge the buyer’s broker (not you, the seller) pays for quite a few things such as, but not limited to:
- We must manually enter our listings in the MLS which is a time-consuming process.
- We must respond to our seller’s queries, throughout the listing process.
- We monitor phone, email and website for buyers (or their Realtors) inquiries and forward their messages back to our sellers.
- Also, once a contract is in place, our small team must contact any combination of title agents, attorneys, Realtors or buyers to obtain the closing statement and answer any of their questions they may have regarding the property or listing, which inevitably comes.
- We also maintain the proper paperwork regulated by state and federal laws.
- There is also a time-consuming update process we must manually enter in the MLS once your property sells.
Certainly, we do not deserve 3% from selling your property, like a traditional Realtor, but we feel our time has value and again our seller’s do not pay our additional $399 commission as our sellers have already agreed to pay a lot of their home’s equity to a buyer’s broker. This is why we charge a commission to the buyer’s broker, in their offer of compensation, in the MLS.