Real Estate

Lower your Listing/Selling Fees - Use Flat Rate MLS

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  • Apr 22nd, 2019 8:57 pm
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[OP]
Deal Guru
Aug 2, 2010
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Here 'n There
Great info for those who chose to ignore the fact open houses are useless. I will add that to my handy marketing plan. Thank you.
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Apr 20, 2011
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http://www.forbes.com/sites/trulia/2014 ... pen-house/
"Mention the phrase “open house” to a seller, and more often than not, they’ll start panicking at the thought of having strange people in their home – or the cost they’ll incur to prepare for the event. In reality, open houses are a seller’s best tool. Not only do they give a home much-needed visibility, they also bring would-be customers directly to the doorstep.

In competitive markets, it’s more imperative than ever for sellers to host an open house. If you’re thinking of selling, check out these five ways an open house can get those offers flowing in (without the bank-breaking prep)."
[OP]
Deal Guru
Aug 2, 2010
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popbottle wrote:
May 21st, 2015 11:53 am
http://www.forbes.com/sites/trulia/2014 ... pen-house/
"Mention the phrase “open house” to a seller, and more often than not, they’ll start panicking at the thought of having strange people in their home – or the cost they’ll incur to prepare for the event. In reality, open houses are a seller’s best tool. Not only do they give a home much-needed visibility, they also bring would-be customers directly to the doorstep.

In competitive markets, it’s more imperative than ever for sellers to host an open house. If you’re thinking of selling, check out these five ways an open house can get those offers flowing in (without the bank-breaking prep)."
I would expect nothing less from the real estate agent who is known to have written that article!
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Apr 20, 2011
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http://www.recordpub.com/real%20estate/ ... -important
"Despite the popularity of the Internet and its ability to open the doors of listed homes to the viewer with multiple photos and electronic tours, nothing takes the place of the buyer being able to see the home in person. And in celebration of the month of April as "Fair Housing Month" by your Portage County Association of Realtors, please join our agents Saturday and Sunday at the open houses listed during this special weekend!"

"Realtor.com and many of the other search sites out there are great ways to begin your search for houses. But you just can't beat walking in the front door and exploring a home for yourself. "
[OP]
Deal Guru
Aug 2, 2010
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popbottle wrote:
May 21st, 2015 11:57 am
"Realtor.com and many of the other search sites out there are great ways to begin your search for houses. But you just can't beat walking in the front door and exploring a home for yourself. "
which all agents and of course yourself would rather do without all kinds of nosey neighbours and tire kickers milling around and taking up the agents time at an open house.

Once you find a house on Realtor.com as mentioned above, which would you rather do. See it privately in a tranquil environment where you can ask as many questions as you want and take your time, or with tons of other people milling about at an open house and snotty-nosed kids running around? Any buyers agent worth their salt will also demand you see it privately.

Again, common sense prevails.
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http://realtytimes.com/agentnews/agenta ... -disobeyed
'Because open houses are an important part of the real estate business, it follows that open house directional signs are an important part of the real estate business. Yet, while open houses are not particularly controversial, a great deal of controversy centers around open house signs."
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Oct 16, 2007
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Out of the 2.5%, how much does the agent need to give to his brokerage? Is it fix or a %?
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boumbo wrote:
May 21st, 2015 12:22 pm
Out of the 2.5%, how much does the agent need to give to his brokerage? Is it fix or a %?
Some brokers charge a per deal fee or a combination of a percentage of the percentage, and a deal fee
Deal Addict
Dec 21, 2010
1396 posts
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GTA
boumbo wrote:
May 21st, 2015 12:22 pm
Out of the 2.5%, how much does the agent need to give to his brokerage? Is it fix or a %?
For my brokerage, he typically begins with a 20-25% split. It is based upon performance, as well. Depending on your sales, you can pay as low as 5-10% per transaction, per year.


There are some brokerages that offer a flat fee as popbottle mentioned. Others can charge as much as 50%.

It comes down to what is being offered for those splits. Do you get an office? All supplies/materials/marketing materials, etc..? Are you paying for a receptionist who makes your appointments and broker-loads your documents? The list goes on.

Essentially, they are all priced differently.
Award Winning Realtor - I LOVE MY JOB!!
At the end of the day, you're the boss and need to make sure I'm worth your rate of pay!
[OP]
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Aug 2, 2010
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loriblum wrote:
May 21st, 2015 12:45 pm
For my brokerage, he typically begins with a 20-25% split. It is based upon performance, as well. Depending on your sales, you can pay as low as 5-10% per transaction, per year.


There are some brokerages that offer a flat fee as popbottle mentioned. Others can charge as much as 50%.

It comes down to what is being offered for those splits. Do you get an office? All supplies/materials/marketing materials, etc..? Are you paying for a receptionist who makes your appointments and broker-loads your documents? The list goes on.

Essentially, they are all priced differently.
What are the thresholds? What level of commissions do you have to sell to go from 25-75 to the next better cut for you, the agent? How about for 90-10?
[OP]
Deal Guru
Aug 2, 2010
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Here 'n There
I was at an open house on the weekend. The agent was one of the best known in the area and extremely successful. I asked him "Just what are people looking for these days with respect to homes?"

His reply?: "ANYTHING!!!"

Yeah, listing a home really requires some rockin' 'marketing plan' on behalf of the agent don't it. (NOT!) And, even if it did, there is really no such thing. What anyone needs to do is all in my first post.
Deal Addict
Jun 6, 2015
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Eonibm

So you suggest one of the fixed fee realtors, and then offer buyers agents 2.5% of the total sale?

So you wouldn't recommend getting a license and selling it yourself?

Also why isn't this post stickied? How many posters are as helpful? The minority :)
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Apr 20, 2011
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Selling a home with a full service agent typically involves a dazzling array of inclusive services that can range from the obvious like a website to the surprising like dressing up your home to the esoteric art of getting it to appear higher on Google than your competitors .

Fsbofsbo.ca on the other hand provides a more ala carte type service where you start at 200 dollars and add on what you need .
[OP]
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Carebra wrote:
Jun 12th, 2015 9:38 pm
Eonibm

So you suggest one of the fixed fee realtors, and then offer buyers agents 2.5% of the total sale?

So you wouldn't recommend getting a license and selling it yourself?

Also why isn't this post stickied? How many posters are as helpful? The minority :)
Yes I recommend a flat rate MLS listing, offer 2.5% to the buyer's agent and selling it yourself. There is no need to get a license to sell now that you can get a flat rate MLS listing. It's the buyers agent who brings the buyer not anyone else. As long as you perform the steps in my first post your house will have a marketing plan just as good as any agent.

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