You’ve got questions. We have answers.
Traditionally, a seller would be responsible for paying 6%, sometimes 7% commission to all participating real estate agents. This commission is then split between both real estate companies. Our full service, flat-fee listing plan eliminates the 3% commission typically paid to the listing company and replaces is with a $1,000 flat fee. Once we sell the property, the seller with then pay a 3% commission to the agent representing the buyer and a $1500 closing fee to RealLink.
GRAPHIC: Example of transaction savings below
Sale Price: $350,000
6%: $21,000 in commissions
$2,500 Flat-fee + 3% to buyers agent: $13,000
= $8,000 with RealLink’s full service, flat-fee approach
Aside from the significant savings you would recognize from selling with RealLink, the greater benefit to working with us is having a team of real estate professionals that are only looking out for your best interests. A common complaint about the real estate industry is that 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.
The easiest way to calculate your savings is to estimate what you think your property will sell for and multiply that by 3%. Then take that number and subtract the $1500 listing fee.
For example, if your house is worth $350,000 it would look like this:
$350,000 x .03 = $10,500 Standard Commission
– $2,500 Our Fee
= $8,000 Savings
As you can see in this example, the savings is $8,000 on a $350,000 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.
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.
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.
Additionally, there are no out-of-pocket costs or fees for RealLink to represent you when buying a home – all fees are paid for by the seller. So, you can rest assured that finding you the perfect property to fit your budget is our priority.
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.