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What You’re Not Being Told About 1% Commission Realtors

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Summary

This article discusses the advantages and disadvantages of using a 1% Commission Realtor when selling a home, as opposed to a traditional realtor. It explains that a 1% Commission Realtor typically offers a set package of services for a 1% commission fee at closing, and that sellers can save a lot of money with this option. It also provides tips on how to find a reputable 1% Commission Realtor, the services they must offer, and alternatives to a discount real estate broker.

Q&As

What is the difference between a traditional realtor and a 1% listing agent?
A traditional realtor offers a broad range of services related to the preparation, sale and transfer of property, including pre-sale consulting and guidance, educating and informing, connecting the listing to their network, marketing the property, conducting showings and open-houses, advocating for the seller's interests, negotiating and making the deal, and handling paperwork and administrative tasks. A 1% listing agent typically offers a set package of services for a 1% commission fee at closing, with less hand-holding and fewer services than a traditional realtor.

How much money can I save by using a 1% commission realtor?
You can save up to $12,000 by using a 1% commission realtor. For example, if the median sales price of homes in your neighborhood is $300,000, with a traditional real estate agent and a commission of 6%, you would pay out of pocket $18,000 in real estate commissions. Alternatively, using a 1% Listing Agent you would pay $3000 to your agent, with the buyer’s agent still getting their 3% fee.

What services should a 1% commission realtor offer?
A 1% commission realtor should offer pricing assistance, professional marketing, negotiations and contracts, and escrow and closing services.

How can I find a reputable 1% commission realtor?
You can find a reputable 1% commission realtor by checking out our agents, negotiating fees with a traditional real estate agent, or searching online for discount brokerages online that specialize in 1% or discount fees.

Are there alternatives to using a discount real estate broker?
Alternatives to using a discount real estate broker include selling your home as a For Sale By Owner, selling to a We Buy Houses For Cash Company, selling to an iBuyer Company, or using a traditional real estate broker.

AI Comments

👍 This article provides an incredibly comprehensive overview of the advantages and disadvantages of using a 1% commission realtor to sell a home. It offers an in-depth look at the services a 1% commission realtor provides and explains the potential savings in an easy-to-understand manner.

👎 The article fails to mention the potential risks associated with using a 1% commission realtor, such as the lack of personalized service and a potentially lower quality of service.

AI Discussion

Me: It's about using a 1% commission realtor to sell your home. It explains the differences between a traditional realtor and a 1% commission realtor, how much money you can save, and other alternatives to a discount real estate broker.

Friend: Interesting. What are the implications of using a 1% commission realtor?

Me: Well, you can save a lot of money in commission fees, but there are potential drawbacks to keep in mind. For instance, you may not get the same level of service as you would with a traditional realtor. Also, you may need to be more involved in the selling process, such as handling the paperwork and negotiating deals. Additionally, you need to make sure that the 1% commission realtor you choose is reputable and offers the services you need.

Action items

Research local 1% commission realtors in your area to find the best fit for your needs.
Negotiate fees with a traditional real estate agent to see if you can get a lower commission rate.
Compare services offered by 1% commission realtors to ensure you are getting the best value for your money.

Technical terms

1% Commission Realtor: A real estate agent who charges a commission fee of 1% at closing.
Traditional Realtor: A real estate agent who typically charges a commission fee of 4-8% at closing.
Flat Fee: A real estate fee structure where the seller pays a flat fee for services instead of a percentage of the sale price.
Comparative Market Analysis: A report that compares the sale prices of similar properties in the same area to determine the estimated value of a property.
MLS Listing: A listing of a property on the Multiple Listing Service, a database of properties for sale that is accessible to real estate agents.
Negotiate Fees: The process of bargaining with a real estate agent to lower their commission fee.
For Sale By Owner (FSBO): A method of selling a property without the help of a real estate agent.
We Buy Houses For Cash Company: A company that buys homes for cash, often without the need for repairs.
iBuyer Company: A company that uses technology to analyze a property and make a cash offer to purchase it.