Pros of Flat Fee Real Estate Agents
As discussed in the benefits expounded on below, the flat fee method, which is a less popular and more new way of paying the real estate broker is not only beneficial to the realtor who avoids the unfeasible commission structure but is also advantageous to the seller, and is different from the traditional method where the realtor is paid based on a commission calculated on a percentage of the amount of sale, seeing that there is a flat fee agreed before the sale is made.
The first benefit si that you will get to pay for less hence incurring less costs when you use the flat rate method as compared to the percentage commission method, and this comes into play because you avoid some extra costs that you would incur with the latter, like paying for the agent of the buyer because you only pay for access to the MLS, which is necessary to connect you to the buyer and the best method to use when deciding the payment would be the pay per day model, which calculates the payment you owe to the agent on the number of days that your house has been listed in the MLS, meaning that a fast sale would guarantee you more savings, unlike in the other method which only considers the amount of sale you make without considering the speed.
The next advantage is that with this method, you will need less commitment because you are free to go whenever you want as long as you have paid the agency fee unlike is the case of a full service agent, where you are bound to their terms and conditions that lock you in the agreements until the home is sold and this freedom is important because it gives you the power to fire the agent when there is no result, when they give you misleading advice, when they do not pay attention to your needs or when you disagree.
Lastly, with the flat rate agents, you pay for the services you need unlike the full real estate agents who have a comprehensive well-structured list of duties that you may not need including listing your home to MLS, printing marketing brochures, marketing your home to other agents, advice you on how to stage your home for sale, track showings, place an agency sign on your yard, scheduling for photography, arranging for inspections and negotiating repairs, walking you through the contract of selling, managing and scheduling open houses, which is not the case with the flat rate agents who have fewer services and hence low costs hence eliminating the services that you do not need.
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