What Is A Flat Fee Realtor?
As a matter of fact, flat fee realtor is also a real estate salesperson who is licensed and paid a particular amount for the services they offer instead of 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. Instead of paying the agent a commission or percentage of sales or lease price, flat fee is paid according to 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.
In the event that flat fee is what preferred, it can be advantageous to the realtor or for the owner. 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. In case that the realtor is a discount realtor, you may expect them to offer to service clients with flat rate of not higher than 6,000 dollars even if the purchase price of the house is higher than 200,000 dollars. This makes sure that the discount realtor will retain a fee of less than 6,000 dollars and the client can save more cash on the sale of property.
The advantage of being a flat fee realtor includes 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. For greater income is also high when you work on commission based salary but, the assurance of having flat rate income is great peace of mind as well.
Generally speaking, the discount realtors may be offering to service client’s for sale needs of property owner and require flat fee to pay for the needed services only. In most instances, the traditional overall total of 6 percent commission is 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. As a matter of fact, discount realtors may be preferable as well for homeowners who are looking for ways on how they 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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