What Is A Flat Fee Realtor?
Flat fee realtor is basically a real estate salesperson as well who is licensed and paid a set amount for the services they offer than getting a commission from the sale. Generally, flat fee realtors are being paid on closing set rate that had been agreed upon previously by all parties involved. Rather than paying the agent a commission or percentage of the sales or lease price, flat fee is paid based on the transferring or closing title.
The fee may be based on a number of factors like the length of time in which the realtor is planning to work for the client, the property is for rent or sale or any other circumstances in which a flat fee is preferred than a commission based transaction.
It can be advantageous either for the realtor or for the owner in case that flat fee is what’s preferred. For instance, if someone is in the market to sell a house and it happens that the realtor fee of the traditional seller is around 3 percent which is going to be a total of 6,000 dollars commission if the purchase price is 200,000 dollars. Say that the realtor is discount realtor, they can offer to service clients with a flat rate that is not greater than 6,000 dollars even if the purchase price of the house is higher than 200,000 dollars. This only ensures that the discount realtor is going to retain the fee of less than 6,000 dollars and the client can save cash on the sale of property.
Having higher appeal to customers in the market to sell or buy a property and help those who are in need to save more money on commission is the advantage of being a flat fee realtor. Potentially for higher income is also high when you work on commission based salary but the guarantee of having flat rate income adds great peace of mind too.
In general, discount realtors might offer to service client’s for sale needs of property owner and require flat fee to pay for just the needed services. Conventional total of 6 percent commission is usually split between the buyer agents and the seller. Flat fee is much different in a way that it may or may not be split and depends upon the set price that the parties have agreed upon before the start of transaction. Discount realtors may even be preferable to some people similar to homeowners who are seeking to sell their high end properties in which commission rates would be equal to 20,000 dollars and up.
Consider working with flat fee realtor and discover the benefits that they can give.
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