Since the 1970s, the National Association of
REALTORS®
has been measuring what percentage of homes sell by
REALTORS®
and what percentage sell By Owner. It has consistently averaged 85:15
(REALTORS®
to Owners respectively). So if you list a piece of real estate with a traditional
REALTOR®,
you get on average 85% of the market and if you list it For
Sale By Owner you get on average 15% of the market. Wouldn't it be better to get
100% of the market? The goal is to encourage competitive bidding in any
market as that drives up the price of your property. The odds of that
happening increase as the market size you cater to increases. When you
list For Sale By Owner, you never know whether you would have gotten a higher
bid had your home been listed in the MLS and exposed to the other 85%.
With a Flat Fee MLS listing, that other 85% can be attracted at an average commission of 2½%±¹. The odds are that the
interest of the other 85% of home buyers will get you back more than the 2½%
cost. Still with a Flat Fee MLS Listing, the commission is variable
meaning that a buyer's broker is only paid if one assists in the sale. So
if there is no buyer's broker's assistance, and the buyer is part of the 15%,
the cost is only our Low Flat Fee which is almost the same as a For Sale By
Owner sale. So think 100% because you deserve it.
¹ All commissions are negotiable. You may set your
commission lower or
higher at the time of listing as you see fit. We do recommend you choose a
number close to the mean (average) for your area. The mean Commission varies by
market and may be lower or higher in your area.
