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Flat Fee Realtor is What You Need for Comfort Selling

By Jimmy Shaan Subscribe to RSS | February 23rd 2012 | Views:
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A flat fee realtor is a licensed real estate salesperson is paid a set amount for their services as opposed to a commission. Generally speaking, a flat fee realtor will be paid upon closing a set rate that had been previously agreed upon by all involved parties. Instead of paying the agent a percentage of the sales or lease price, a flat fee is paid upon closing or transferring title. The fee can be based upon many factors including whether the property is for sale or for rent, the length of time the realtor plans on working for the client, or other various circumstances where a flat fee would be preferred over a commission based transaction.

If a flat fee is preferable, it can be beneficial to the flat fee realtor or their for sale by owner. For instance, if an individual is in the market to sell a home and the traditional seller’s realtor fee is 3%, which is a total commission to the realtor of $6,000 if the purchase price is $200,000. If the realtor is a discount realtor, they could offer to service the client at a flat rate of less than $6,000 even if the purchase price of the home is over $200,000. This would ensure the discount realtor would retain a flat fee of less than $6,000 and the client would save money on the sale of their property.

The benefits of being a discount realtor include having a higher appeal to clients in the market to buy or sell a property and helping those who need to save money on a commission. The potential for a higher income is greater when working on a commission based salary, but the guarantee of having a flat rate income is also great peace of mind.

Generally speaking, a flat fee realtor may offer to service their client’s for sale by owner property needs and require a flat fee to pay for only the services they need. The traditional total of 6% commission is usually split between the seller and buyer agents. A flat fee is different in that may or may not be split and is dependent upon a set price that all parties have agreed to prior to the transaction. A discount realtor may be preferable to certain people such as homeowners looking to sell high end properties where commission rates would equal $20,000 and up, although sometimes high end clients require more servicing rather than less. Discount realtor may also be advertising properties in Flat fee MLS- or a Multiple Listing Service. This flat fee MLS database is a huge resource for realtors to access a network of properties that are available for sale, sold and then used as comparables, or leased to tenants. A flat fee realtor may be listing a for sale by owner property on flat fee MLS, but it may also cost a nominal fee to the for sale by owner client.

Jimmy Shaan - About Author:
Jim Shaan is a shrewd consumer who writes about personal finance and real estate topics like: for sale by owner, flat fee mls, flat fee realtor and discount realtor.

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