The real estate brokerage industry is evolving to accommodate consumer demands. You Have Options! There are different Listing Agreements available to you when selling your home.
Traditional Full Service - The real estate broker, working with the seller, handles all aspects of the process, including valuation assistance, marketing, negotiating, contract management and showing accompaniment. A full commission rate is negotiated with seller.
Blended Service – this option would include some traditional full service such as valuation assistance, marketing, negotiating and contract management. In turn, seller would handle showing appointments or allow lock box usage for realtor showing access. There are a variety of ways an agreement can be structured in order to achieve savings in commission rate.
Flat Fee - generally refers to a seller entering into an "à la carte service agreement" with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction.
Other considerations:
Listing Agreement Length – this is negotiable, there is no need to go with a 1 year “default” that many companies ask/require you to do.
Marketing Fee – some companies for an up-front fee of up to $500 to help with items such as photos and flyers/brochures – WHY? You are already paying a significant amount in commissions.
Administrative Fees – most brokerages also ask/require an “administrative fee” of $550 - $895 to be paid at closing. WHY? You are already paying a significant amount in commissions.
Type
