When many people start looking for a new home, they wonder what they should choose and how much of an investment it will be. Although many people aren't quite sure about what their new home will look like, the fact of the matter is that there are many aspects to be mindful of when it comes to real estate. From paying attention to how much things cost to looking carefully at your options, it really pays to understand and apply a little wisdom before you break ground on a project. Check out these posts to find out great tips about real estate.
Homeowners who are planning for the upcoming sale of their family's home often worry about the costs and processes involved in selling their home. Because of this, many want to explore options to help them reduce costs and maintain control of the situation. One way to do this is by considering the use of a flat fee real estate brokerage.
Understanding the flat fee brokerage difference
One of the most painful costs involved in selling a home is the sales commission that is paid to the listing broker in a standard real estate transaction. While the amount is negotiable by law, most traditional real estate brokers charge at least 6 percent of the contract sales price as their fee. This charge is then included in the seller's closing costs and is usually paid by deducting it from the seller's proceeds check issued by the closing agent.
An option for reducing the amount of the sales commission is to use a flat fee broker, instead of a traditional real estate broker, but it is important to understand how they differ before deciding which one to use. The most important difference is that flat fee real estate brokers typically offer a slate of services to their listing clients. As the term "flat fee" implies, each service has a specific fee attached to it and sellers are able to select as many or as few as they wish.
Understanding flat fee service options
The ability to select or decline these services allows the seller to maintain better control of the amount they spend and helps to ensure that the cost of selling their home better fits their budget and situation. Some examples of the services that might be offered by a flat fee broker include:
Homeowners who are willing and able to handle some or all of the tasks involved in selling a home, including showing and marketing the home to prospective buyers, negotiating purchase offers, and dealing with closing tasks can often avoid paying a large sales commission and maintain better control of the transaction.
To learn more about flat fee real estate brokers and be better able to determine if this type of transaction could be a good option for your situation, take time to meet with one or more reputable flat fee real estate brokers in your area to discuss your home selling situation.
Share25 February 2020
