Though there are multiple effective ways to sell your home, we at Home Avenue believe that flat-fee listings are the way to go. Flat fee, when done right, can save you thousands of dollars, leaving you in a better financial position than other methods would. Here, Home Avenue’s experts will walk you through the process of both traditional brokerages and flat-fee listings so you understand the inner workings of both.
How Does A Traditional Brokerage Work?
When you choose a traditional brokerage to help you sell your home, you have to pay them a certain percentage of the sale price of the home. In Minnesota, on average, real estate companies charge the seller 6% of the selling price. The company itself keeps about 3.3% of that money, and compensates the agent who represented the buyer 2.7%. If the buyer works directly with the realty company instead of going through an agent, they still have to pay that 6%.
How Does A Flat-Fee Listing Work?
Each flat-fee company is different, but Home Avenue will charge he you, the seller, a flat $3,495, no matter the price of your listing. Our team of experts work with each client to ensure they are getting just as much promotion and coverage as customers who choose traditional brokerage companies, while simultaneously saving them money. When you choose us, you pay $595 as a down payment before paying $2,900 at closing. The seller also has to compensate the buyer agent between 2.5 and 2.7%, however, if no agent is used, the seller saves that money.
So, How Do They Compare?
Imagine you are selling your home for $350,000. If you were to go through a traditional brokerage company, you would have to pay 6% of that, which is $21,000. Now, if you were to go through Home Avenue, you would pay the $3,495 fee, and then compensation for the agent, typically 2.7% or $9,450. In total, you would spend $12,945, saving $8,055. If there is no buyer agent to pay, you would save that $8,055 and save a total of $17,505.
Contact Home Avenue Today
With our Full-Service Realtor Package, we have served over 20,000 clients. Check out our testimonials to see what else our customers have to say about our services. To learn more information, call us at 952-929-7355, or message us on our contact page.