Moving home can be a costly business. On top of paying out for your new home and all the associated fees, you will also need to pay a realtor their commission for their efforts in selling your home. As the seller, it is also customary for you to cover the realtors fee on behalf of the buyer too. This could see you paying combined fees of anywhere between 3 and 6% of your total selling price to your realtor. This means that if you sell your home for $300,000 and your total commission charges come to 3%, you can expect to pay $9,000 to your realtor. However, often combined fees are nearer to 5 or 6%, meaning that expecting to be billed $15,000 by your realtor is not unreasonable.
While there is absolutely no doubt that a realtor is worth their weight in gold, many people wonder if there is a way around paying out such a high percentage in commission. Fortunately, there is. You could consider hiring a flat fee realtor and potentially save yourself thousands of dollars on your property sale.
What is a flat fee realtor?
As you may have guessed, a flat fee realtor is someone who charges a single, one-off fee for their services as a realtor. However, exactly what services they will offer will vary between realtors and the price you will pay will tend to reflect the comprehensiveness of the services offered. For example, some will only list your property on the MLS, while others will offer marketing services such as online listings and an open house event. There are also plenty of flat fee realtors that offer identical services to those of a regular realtor.
Much of the work of a realtor is now done online, with listings, photographs, appointments and communication all being able to be carried out via the internet. By streamlining the way that they work, many realtors are able to reduce their overheads and as such, charge an extremely reasonable flat fee.
What are the benefits of working with a flat fee realtor?
There are a variety of benefits that you can reap when you choose to conduct your sale using a flat fee realtor.
Firstly, you could save a large wad of money. Depending on the realtor you choose and the fee that they charge, you may end up paying them considerably less than you would paying commission to a regular realtor. This is especially beneficial if your home sells for more than you expect. In fact, it doesn’t matter how much your home sells for, the fee you pay your realtor will be the same.
Secondly, you can tailor the services that you want from a realtor to suit you and your budget. Many flat fee realtors offer tiered packages of services which gives sellers the option of deciding how much professional help they want or need. This can be important if you find a realtor that you bond with, but do not require or don’t want the cost implication of a comprehensive service. Instead, you can choose a basic package which better suits your needs and bank balance.
If you choose a flat fee realtor, you will enjoy better control over your property sale. However, you will also be in a better position to plan for your future. If you know what you are going to need to pay in realtor fees, you can use the money you have saved to purchase furniture, pay HOA fees, or even simply stash it in an emergency fund for use in the future.
Provided that you choose a professional who can offer the services you need at a price you can afford, a flat fee realtor can prove to be an invaluable commodity when selling your home. If you would like to discover more about the services of a flat fee realtor and the benefits that they can offer, or if you are ready to start your property sale, please don’t hesitate to contact our experienced team of realtors in Boerne, Texas.