Over the past few years, the flat fee model is becoming quite popular in the world of real estate. The sheer fact that you can access real estate services without paying a percentage of the property is extremely appealing. Instead, a flat fee real estate agent works differently. You agree to pay a fixed fee, and that means you’ll usually save thousands of dollars on fees while still getting a very good and comprehensive service.
What is the difference between flat fee and traditional REALTORs?
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In a traditional real estate transaction, anywhere from 3% to 6% of the property value will be paid to the REALTOR in the form of a fee. That means it’s quite expensive to buy or sell a property since you will be dealing with an inherent number of fees attached to the transaction. However, things change when it comes to the flat fee model.
In the case of a flat fee REALTOR, you only pay a fee that’s shown right off the bat. It can be $3000, $10000, or any other number, depending on the company. For example, Ca Flat Fee a California based real estate agency charges $5000 for their full real estate service.
The difference here is that you are not paying a percentage; instead, you are just spending a fixed amount. A flat fee agreement is much better since you won’t have to worry about how much the house is sold and how much you have to pay the agent after that.
Fees are known beforehand, and you agree to them when talking with the real estate agent. That’s great because it allows you to save money on fees while improving the overall real estate experience. It also allows you to have more control over the listing.
Incredible cost savings
One of the primary reasons why you want to use flat fee REALTORs is because you are saving a huge amount of money. Most of the time, the traditional real estate model will require you to pay up to 6% to the real estate agent, but that’s not the case with the flat fee model. Here, you know exactly how much you have to pay, and you can save a large amount of money in no time.
Getting more control over the listing
With a traditional REALTOR, you don’t really have control over the listing. They take over, take the pictures, and handle everything with no say from your side. A flat fee REALTOR will always listen to your input, and you can also make real-time updates to your listing as well. That way, you get the much-needed flexibility expected from such a process while also dealing with any ever-changing market conditions.
Very good MLS exposure
Once you use flat fee REALTORs, you will notice that they showcase your property on the MLS very quickly. That will give you much-needed exposure, and in turn, you will have more inquiries from potential buyers. In addition, it reduces the amount of time your home would spend on the market. MLS exposure is a huge deal, and it will help you save a huge amount of time.
Sometimes, real estate transactions will have additional costs on top of the agent fees. The transparency offered by flat fee REALTORs is great here because you will know all the costs beforehand. You’ll have a very good understanding of what the flat fee REALTOR can provide and if there are any additional costs you will need to pay, if any.
Closing thoughts
With help from flat fee REALTORs, you receive exceptional value and the opportunity to spend less on real estate transactions. You don’t have to worry about spending 3% or up to 6% of the property value in the form of REALTOR fees. Instead, you have a flat fee, along with more control over the process, no hidden costs and great MLS exposure. The flat fee model is highly recommended if you want more transparency in your real estate transactions. You should consider giving it a shot by choosing a flat fee REALTOR today!