FAQs to help you understand our business.
What is the difference between how you and a traditional real estate agent get paid and what is the benefit of using RealLink?
In a traditional real estate transaction, once the property sells, the sellers are responsible for paying 6%, sometimes 7% commission. The commission is then split between both real estate companies involved. In the scenario of 6% commission, 3% goes to the listing company, 3% goes to the company representing the buyer.
RealLink’s full service, flat fee listing plan is eliminating the 3% commission typically paid to the listing company and replacing it with a $1000 flat fee. Once we sell the property the seller will then pay a 3% commission to the agent representing the buyer and a $250 closing fee to RealLink.
Interesting to most buyers is the significant commission savings, but in our opinion an ever greater benefit is having a full time, full service real estate professional looking out for your best interest, not theirs. A common complaint amongst the real estate industry is many agents get blinded by the commission they will receive at closing and start looking out for self-interests rather than client interests. When working with RealLink you can be confident that our recommendations are based solely on your best interests, not us chasing a quick commission.
What does the flat fee cover?
The short answer is RealLink does everything a traditional real estate agent does yet rather than charging 6% to do so; we charge a low flat fee of $1000 – saving our average client over $8,000 in commission in 2013. There are absolutely no hidden costs or additional fees. RealLink handles everything associated with the sale of your home including but not limited to: a detailed price analysis, photography, schedule showings, buyer feedback, offer negotiations, constant communication, preparation for and attendance at closing.
How do I calculate how much I will save?
It is very easy to figure out how much you will save with RealLink’s full service, flat fee listing plan. RealLink eliminates the 3% commission typically paid to the listing agent and replaces it with a flat fee of $1000. The easiest way to calculate this is to estimate what you think your property will sell for and multiply that by 3%. Then take that number and subtract the $1000 listing fee and you will see how much you save.
For example, if your house is worth $300,000 it would look like this:
300,000 x .03 = $9,000 Standard Commission
– $1,000 Our Fee
= $8,000 Savings
As you can see in this example, the saving is $8,000 on a $300,000 home. Keep in mind this is a minimum savings. If there is not another real estate agent involved you won’t pay the 3% to the buyers agent either. Meaning, on a $300,000 home you would save $17,000. Though rare, this does happen.
Where will you market my house?
Because 92% of buyers are doing their home search online, maximum internet exposure is critical. This goes beyond simply putting your home on the MLS, which we obviously do. In fact, if your property is centrally located between Cincinnati and Dayton, you will be on both Cincinnati and Dayton’s MLS’s at no additional charge. In addition to this, your property will be put on other local real estate company websites as well as many national real estate websites. By maximizing the exposure of your listing, we can ensure a buyer and/or agent can find your property, no matter what website they are searching.
In addition to extensive online marketing, we also do what we call “direct agent marketing”. This is where we market your home directly to the real estate agents who are actively working with buyers in your neighborhood.
How are you able to offer “superior service” but charge so much less?
At RealLink we believe in a team approach to real estate. We have a listing expert who specializes in listing, marketing, and selling your home. We have buyer specialists who work exclusively with buyers to ensure a seamless, smooth, transition into your new home. By having a narrowed focus we are able to be much more effective and efficient at selling real estate. At RealLink, we work smarter and in turn pass that savings along to you.
What is your motivation to sell my house if I already paid you $1,000 up front?
Our primary motivation for selling your home is to turn you into one of our many satisfied clients who will refer RealLink on to all of your friends and family. Real estate is a referral business and we understand that our future success hinges on the satisfaction of our clients. In addition to wanting your referrals, there is also a financial incentive for us to sell your home, though it is not coming out of your pocket!
Once we sell your home, if you are pleased with our service and planning to buy in the future, we ask you either use one of our buyer specialists to purchase your next home or take advantage of our referral program if you are moving out of the area. The referral program connects you with a qualified buyer’s agent in the area of your next home. We have no connection to a specific agent or company, meaning our recommendations are based solely on who will represent your best interests and negotiate the best price on your new home.
Can you explain your referral program in more detail?
Anyone can take advantage of our referral program, whether you are a past client or someone who is just tired of blindly looking for a professional real estate agent. We work in the industry and understand it is difficult to truly find an agent who will take the time to find you the right home. We have a passion for bettering the real estate market and that is why we started our referral program.
We have access to statistical information not readily available to someone outside the industry such as: how many homes an agent has sold in the area you are looking, their ability to negotiate price, and how long they have been an agent. We will also search any additional criteria you request. Referral fees are commonly charged within the industry and range from 25% to 45% of the 3% buyers commission. In most cases we collect the minimum (25%) referral fee from the agent. Remember, you as the buyer do not pay for this at all.
We stay in contact with you and the agent throughout the process to ensure everything is running smoothly.