Frequently Asked Questions
How does a flat fee real estate agency work?
A flat fee real estate agency operates by charging a fixed fee for their services, rather than the traditional percentage-based commission that most real estate agents charge. Here’s how it typically works:
Fixed Cost: The seller pays a set fee to the agency, which is agreed upon in advance. This fee is at the time of closing.
Services Offered: Despite the lower cost, Albert Realty provides the same services as traditional agents. This includes listing the property on the Multiple Listing Service (MLS), marketing the property, and providing advice on pricing and negotiations.
Savings on Commission: Sellers can potentially save a significant amount of money on commission costs, as they are not paying a percentage of the sale price. This can be particularly advantageous in high-value markets.
Do I pay a commission to the Buyer’s Realtor?
Yes. One requirement when selling your home with Albert Realty is that the seller offers to pay a 3% commission to the buyers agent. Although it is not a legal requirement that seller’s pay any compensation to their buyer’s Realtor, it is a very sound business practice and significantly improves your ability to sell your home quickly and for a better price. Albert Realty does not receive any of this 3% compensation.
- Offering to pay the buyer's agent commission can be a strategic move for home sellers. Here are some reasons why this might be beneficial:
Attract More Buyers: By offering to pay the buyer's agent commission, you can attract more potential buyers who are working with agents. This increases the pool of interested parties.
Faster Sale: Homes that offer to pay the buyer's agent commission may sell faster because they are more appealing to both buyers and agents.
Competitive Edge: In a competitive market, offering to pay the buyer's agent commission can make a property stand out among others that do not offer this incentive.
Agent Motivation: Real estate agents are more likely to show homes where their commission is covered, motivating them to bring their clients to your property.
Higher Offers: Buyers may be willing to offer more for a property if they know they don't have to cover their agent's commission out-of-pocket.
Simplified Negotiations: Covering the buyer's agent commission can simplify negotiations and reduce friction between buyers and sellers during the transaction process.
Broader Market Appeal: Paying the commission can appeal to a wider range of buyers, including first-time buyers who might be more budget-conscious.
Professional Representation: Encouraging buyers to use agents ensures that both parties are professionally represented, leading to smoother transactions.
Positive Perception: Offering to pay the buyer's agent commission can create a positive perception of the seller as accommodating and cooperative.
Increased Exposure: Listings that offer to pay the buyer's agent commission may receive more exposure through real estate networks and MLS listings, attracting more attention.
What happens if the buyer does not have a Realtor?
While your Albert Realty agent cannot provide direct advice to buyers, they can certainly assist with essential tasks. If a buyer chooses to work without a Realtor, Albert Realty can help with administrative tasks such as document preparation and guiding them through the closing process. In this case, the typical 3% buyer's agent commission is replaced with a flat fee of $3,500.00. This adjustment not only saves you significantly compared to the standard buyer’s agent commission but also ensures a smoother sales process. By relying on our expertise, you can avoid costly and time-consuming errors that may arise when inexperienced buyers navigate the complex legal process alone.
What services are included in your flat fee?
Property Evaluation: A comprehensive market analysis to determine the optimal listing price.
Marketing Strategy: Development of a tailored marketing plan, including online and offline strategies.
MLS Listing: Listing the property on the Multiple Listing Service (MLS) for maximum exposure.
Professional Photography: High-quality photos to showcase the property.
Staging Advice: Recommendations for staging the home to appeal to potential buyers.
Open Houses and Showings: Coordination and hosting of open houses and private showings.
Negotiation: Skilled negotiation with potential buyers to secure the best possible price.
Communication: Regular updates and communication throughout the selling process.
Paperwork Management: Handling all necessary documentation and contracts.
Closing Assistance: Support and guidance through the closing process to ensure a smooth transaction.
What Services are not included in your flat fee?
Video home tours
Matterport 3D home tours
Floorplans
Arial photography
Legal, accounting, or tax advice
Are there any additional costs I should be aware of?
No. Albert Realty’s flat fee service includes everything that you will need to successfully sell your house.
How do you market properties with a flat fee structure?
Placement in the MLS. Most buyers today search for their home in the MLS whether they use a Realtor or not.
Flyers emailed to our extensive network of associated Realtors
Your home marketed via social media - Facebook and Linked-In
A Professional yard sign
Open houses
Will I receive the same level of service as a traditional full-commission agent?
Yes. In fact it is likely that the service that you receive will be better and more comprehensive than that of our competitors.
How do you determine the flat fee rate?
There is only one rate, regardless of the size, location, or price of your home.
What happens if my home doesn’t sell?
If your home does not sell within the timeframe outlined in your listing, you remain the owner of your property. There is no fee owed. The $3500.00 flat fee is only due and payable upon the successful closing of the sale of your home.
Can I cancel my listing with you if I'm not satisfied?
Typically no. The listing agreement that we use at Albert Realty is the same standard state promulgated contract that all Real Estate agencies use. They cannot unilaterally cancelled. Seller’s may discuss emergency situations with us if one should arise.
