For many sellers, the Realtor fee is one of the most significant expenses they must deal with when planning to move/relocate. Most of these sellers pay a six percent commission (standard fee) when selling their homes. Half of this commission usually goes to the buyer's agent. For instance, if a home sells for $400,000, the seller would incur $24,000 as the realtor commissions.
Such fees/commissions affect the seller's potential down payment on their next home. Additionally, the prices can prevent some sellers from relocating to avoid incurring high costs.
To help find a solution to this issue, some realtors have begun to offer better alternatives different from commission-based fees. And if you've been following up on the real estate industry closely, you'll notice that there has been a rise in flat fee real estate in the past few years.
So what are flat fee realtors? And what services do these realtors offer? Keep reading to find out more!
What Are Flat Fee Realtors?
Contrary to commission-based agents, flat fee realtors don't charge a percent commission on the property sale. Instead, these realtors accept a set cash amount for offering their services. They will present their clients with the rates upfront; in most cases, it will be the same from client to client. Some call these realtors discount Realtors since you'll spend less with them than commission-based agents.
Services Offered By Flat Fee Realtors
When you decide to sell a property, you can receive several services from flat fee realtors. Here are a few of these crucial services:
One crucial service/benefit from flat fee realtors is listing your property on multiple listing services (MLS). Multiple listing service is critical in real estate since it helps share your home/property listing across different platforms that potential buyers utilize to search for properties.
For instance, properties that populate and appear on Zillow appear on this platform because different agents share them through MLS. Using MLS to list your property is beneficial because you'll reach hundreds of potential buyers interested in your home.
Professional Advice and Consultation
Before selling a property, it's crucial to understand that the real estate world is quite broad, and its trends occasionally change. For this case, obtaining a realtor with great insights into the ins and outs of this critical field is vital.
Flat fee realtors offer thorough consultation and needed advice when selling a property. These realtors come in handy to answer all the questions you have throughout the selling process. Additionally, they provide essential tips regarding the local real estate market to assist their clients in making informed and firm decisions.
Detailed Marketing Support
Marketing is a crucial aspect of selling properties. Some flat-free realtors may use this essential element to promote their clients' properties. They can use virtual tours, social media campaigns, and online advertising to ensure potential buyers see and gain interest in their client's properties.
Negotiation is another critical aspect in the real estate industry as it will significantly determine the amount of money you'll take home as the property seller. Partnering with a flat fee realtor in flat fee real estate will ease the burden of negotiating offers with different potential buyers. You can obtain the desired outcome by receiving contract terms and guidance on counter offers from a flat fee realtor.
Let Rochford Law Help You
As a client, you’ll save much money and time by working with flat-fee realtors that understand your local real estate market. These realtors in flat fee real estate will list and sell your property for the best price, for a short duration, at the best flat fee rate while offering expert recommendations.
At Rochford Law & Real Estate Title, we have significant experience in all real estate and title service needs. Kindly reach us at (615) 269-7676 if you need help with these services or deciding on a broker. We'll be more than glad to assist you in making an informed decision based on what you need to achieve.