Using a Flat Fee Realtor can save you thousands of dollars. In the interest of full disclosure I am a Real Estate Broker that offers Flat Fee Realtor Services but I will highlight the different types that are available.

In the past you’ve had two choices hire an agent or sell yourself. Your agent and the buyers agent are each usually paid 3% at closing. A $500k home with a 6% commission due means you are paying $30k in realtor fees at closing. You can try to sell yourself instead but your home will not be on the MLS or other partnership sites. You will also need to handle everything yourself (marketing, negotiations, legal contracts, transaction management etc). You can easily get overwhelmed or be at a disadvantage with negotiations or items needed in the contract if dealing with a savvy buyer or their agent. Additionally agents will bring buyers to your home if the agent will be paid so unless you find an unrepresented buyer you will need to pay a buyers agent fee ($500k house with 3% commission = $15k). However, there is a 3rd option, use a Flat Fee Realtor.

The concept is simple with a Flat Fee Realtor. You pay a flat fee to an agent to help you sell your home. For as low as $99 the agent puts the home on the MLS which automatically links it to other sites like Realtor.com, Redfin, Trulia and more then you handle everything else like a For Sale By Owner would. You get advertised with all the other homes for sale but with a tiny price tag. This is the most basic Flat Fee Realtor service you can find but you still have some of the hassle and risks that I outlined earlier selling yourself. Fortunately there are a variety of Flat Fee Realtors. Some will offer a sign for your yard and a consultation with an agent when you receive offers (you still handle everything else). Others will provide more traditional agent services with a sign/post for your yard, SUPRA lockbox for agents, offer review, negotiation services, transaction management and they handle all the paperwork. You will still have to pay a Buyers Agent Commission at closing if an agent brings you the buyer but you determine what that fee will be before your home goes on the MLS (I recommend no lower than 2%).

Make sure that you research and call several Flat Fee Realtors before you make a decision as all are not created equal. Some will offer 24/7 availability and full services for as low as $500. If they are able to sell your house quickly without much time invested then they’ve made a decent hourly wage. However, transactions can get complicated and become time consuming. Every hour that they spend helping you decreases their hourly wage sometimes causing them to work for minimum wage or lower. Who would work for such low pay? Noone which is why quality representation and/or 24/7 availability changes if your taking too much of their time. Additionally many of the “promise everything brokerages” make you pay in full upfront so you don’t realize the limitations until later and feel stuck using them regardless.

I offer Flat Fee Realtor services. I work virtually, during normal business hours (on call weeknights until 8pm and Saturdays by appointment) and I’ve streamlined my services to be more efficient which helps me offer you a much lower fee. You can learn more at my website http://flatfeeutah.com.

The general process is the same for every agent to sell a house. Some will say that they should be paid more simply because they’ve been in the business for a long time. Years in the business and actual sales are two very different things. Others will offer to visit your home, be available 24/7 to chat/be your new best friend, host an open house or provide professional photos and fancy colorful flyers. The in person visit is not necessary, you don’t need to pay thousands more to have a “friend” you can call and you are capable of hosting your own Open House. Additionally professional photos and custom color flyers will only cost you a few hundred dollars and I am happy to give you names of photographers and printing companies that can help.

I have been in the business 5 years, sold 45 homes in 24 months and was named as a 2020 Top 500 Wasatch Front MLS Agent. I would love to help you sell your home. Visit http://flatfeeutah.com or call me at 801-793-8032 to discuss your needs (no obligation).