Using a discount real estate broker
Homeowners have traditionally used real estate brokers to sell their homes. This is due to the complex nature of the real estate buying and selling process. Most sellers, however, do not realize that there are sometimes vast differences between real estate brokers.
The average commission paid by these brokers is 6%. When you add in all the costs associated with selling a house, it can cost upwards of $15,000.
So it’s not surprising that discount real estate brokers have been popping up in recent years. These brokers charge significantly lower commissions and fees.
Homeowners who plan to sell their home should investigate the benefits of using a discount broker. Continue reading to learn the main benefits of discount real estate brokers.
What is a discount real estate broker?
Many people don’t know how real estate commissions work. Although it might seem scary, being a discount broker does not mean they offer low-quality services. The broker is just charging less for their services, not doing less for you.
There are two types of real estate brokers: flat-fee or commission discount. Flat-fee agents charge a flat fee to list a property. Sometimes, these brokers only do the job of listing the home. Flat-fee brokers may offer full-service services in other cases. It all depends on the broker.
Commission discount real estate brokers charge a lower percentage-based fee than the standard 6%. Some brokers charge as low as 1% listing commission.
There are many services that a Fort Meyers discount real estate broker can offer. They may differ from brokerage to brokerage. A broker will at minimum list your house on the MLS. However, most brokers offer the same services as traditional real estate agents such as online marketing and open houses.
There are 3 advantages to working with a discount real estate broker
1. Save Money
The best thing about working with discount brokers in real estate is the ability to save money when selling your Florida home. You can reduce the cost to sell a house by using discount broker services, regardless of whether the flat fee is lower or the commission percentage rate.
A $250,000 home would be subject to a 6% commission. The average commission is $15,000. A discount broker, such as 1 Percent Lists, would charge a 1% listing commission and a commission for the buyer of roughly 2.5%.
That means the total commission would drop to $8,750, giving you an extra $6,250 profit on your home sale. Keep in mind that the buyer’s representative will also need a commission. This can lead to significant discounts.
For houses below a specified value, discount brokers may also charge a flat fee. It doesn’t matter if the fee is $3,000, $4,000, or whatever. This is still significant savings when compared to traditional brokers’ fees.
2. Motivated agent
Brokers who specialize in discount real estate tend to process sales faster than traditional brokers, which helps them make up for their lower fees. Agents with discount brokerages are motivated to aggressively price and market their homes.
3. Streamlined process
The streamlined process is one of the many benefits of working with a discount broker. The traditional process of selling a house takes many weeks and can require a lot of work.
These discount brokers tend to be more efficient and productive because they are more focused on selling properties quickly and efficiently to justify their discounted fees.
Because of their low commissions, discount brokers are motivated to work efficiently and eliminate all unnecessary steps from the sales process. Brokers save their clients’ money by removing any roadblocks and expediting the sale as well as helping them save on fees.
Are discount real estate brokers better than traditional brokers?
Every housing market and every home is unique. Without taking your personal circumstances and needs into consideration, it’s impossible to determine if a discount broker is the right choice for you.
However, it is important to keep in mind that discount brokers offer many advantages over traditional brokers. A discount broker will save you money and possibly make it easier to sell your property quickly.
If you are looking to save thousands of dollars on commissions, sell quickly, and enjoy the benefits of a simplified process, consider using a discount real estate broker.