Discount brokerage companies offer their listing services either on a flat fee or reduced commission fee schedule. A flat fee service charge allows the listing broker to receive money upfront regardless whether your home sells or not. In addition, brokers add additional fees to the flat fee agreement based on what specific services your need during the sale process. For example, a real estate broker may offer you a flat fee of $499.00 to access the MLS with your listing. The broker may ask you to make your own appointments with other buyer broker Realtors who call to set appointments. This allows the consumer to only be obligated to the buyer broker coop fee. This buyer broker commission fee is basically a percentage of the sale price paid to the buyer broker. This fee can range from 2.5% to 5% based on the type of property that is being sold. Vacant land usually fetches the higher commission amount paid by seller. However, the commission fee is closer to 2.5%-3.5% for the sale of residential properties. Additional fees are usually charged by the listing broker on top of the $499.00 for services like home photos, yard signage, disclosure notices, contract negotiation, inspection and home walk-through, lock box, appointment setting, etc. This is a plan Rate Cut Realty does not recommend.
A reduced listing fee commission fee is basically a reduction in commission fees paid to listing broker should the property go to sale. This means there are no upfront costs to the consumer and they can obtain access to the local MLS in the area where the home is located. A discount listing fee offers the consumer the best alternative to saving money on commissions paid by the seller at closing. The consumer does need to be aware of the actual services being provided. Rate Cut Realty services include yard signage, comparative value analysis, home photos, staging advice, disclosure help, contract negotiation, open houses to the public and brokers, online search engine marketing, lock box, appointment setting, feedback, inspection and walk through attendance. Your Broker can add these services for half the normal cost when you use Rate Cut Realty. Other discount brokers only offer some of these services and if you try and get them to do more the cost of their listing service goes up. At Rate Cut Realty here in Chicago we are changing the way homes are listed and advertised for sale. Our nationwide services include all the same services for half the cost of traditional real estate commission fees. Get registered today! Save up to half the cost on list fees charged to sellers and get half our commissions back in cash if you’re a Chicago-land buyer. Don’t live in Chicago? Receive up to half the commissions back by using one of our Realtor associates nationwide.