Ok, this is the third time I have heard this since we launched our new Flat Fee Brokerage here in Boston. Jease…what is the big deal What about if I had bought a RE/MAX franchise or a C21 Do those guys get beat up too
Since launch on January 10th I have gotten a “get out of town” note stuck on my windshield (yes when I was at a showing with a client) and have also overheard on 3 separate occasions negative conversations about CondoDomain Boston and its new Flat Fee Buyers Brokerage.
Just last night at Davio’s a fine upscale restaurant in the Back Bay here in Boston, the meatball sitting right next to me was talking about that our company is “insulting the industry” by offering buyer services for a flat fee. I patiently gripped my chair and ordered 2 more martini’s (goose dirty 3 olives, in case you were interested) and just sat there and listened.
Best part of the story is that we made eye contact a few times and he had no idea that I am “The Nut” that founded the company…and best yet, I was there with two top Boston real estate agents (FRIENDS!!!) which he didn’t recognize either…. he must be a top broker!
So…Are the Boston Condo Guys Nuts?
Nope…well at least we don’t think so and to answer the question of, “How in the hell do you guys make any money” Here I go…
In Boston we accept $5000 per closed transaction from the buy-side commission. On a typical $500,000 purchase, there is a $15,000 buy-side commission paid by the seller. We take the first $5000 and refund the remainder or $10,000 in this example.
back to the answer….
Well, we make $5000 per deal. Who ever said that $5000 was NOT a lot of money. We think it is. Especially when our clients contact us and are educated on the marketplace, have done a significant amount of searching online and in open houses and are ready to buy!!! Our mini team of 4 here in Boston can turn out more than 20 purchases a month very comfortably. Sound like a lot of money now.
Our concept is on the web. We are engaged by web-savvy individuals who like to work “with us” and therefor allow us to work much more efficiently. We also work as a TEAM in the office allowing everyone to be much more efficient in helping all of our buyer clients together!
Simply put…don’t worry about us. If your a buyer we cant wait to work for you…if your an agent who wants to bad-mouth us….bring it on….you just make us look that much better.
To reiterate: The Boston Condo Guys Are Nuts !
Enough with the rambling…check out our site and start your search today!