In a typical real estate transaction, the seller pays the agent 5-6% of the total sale. The selling agent then splits this commission with the buyers agent, who keeps his 3% not so with a flat fee real estate brokerage firm. Why does the real estate agent make more money because a property is more expensive It just does not seem fair. This is why flat fee real estate brokerage firms like CondoDomain.com are dramatically changing the way traditional real estate is handled.
As a flat fee real estate brokerage, CondoDomain collects their 2 – 3% commission from the seller’s broker, subtracts their flat fee of $5,000 as a flat fee real estate brokerage firm, and then cuts a check to their client the buyer for the remainder of the commission. Nationally, the average $500,000 sale pays a 3% co-brokerage commission of $15,000. In this example, the flat fee real estate brokerage CondoDomain would collect the $15,000 at the closing, subtract a $5,000 flat fee, and refund the $10,000 remainder after the closing. Since they offer the same full-service that a traditional firm offers, there is really no reason to go with a non-flat fee real estate brokerage.
Because the seller is responsible for the agents commissions, most people think of commission coming out of the seller’s pocket. On the contrary, it is almost always hidden in the selling price, so the buyer is actually paying the agents commission. This is why CondoDomain feels that it is only fair for the buyer to see a return of a portion of that money thus their reason for becoming a flat fee real estate brokerage firm.
However, CondoDomain.com’s focus is not on the refund or the fact that they are a flat fee real estate brokerage firm. They think of flat fee real estate brokerage as a very fair way of conducting real estate transactions. In fact, whether CondoDomain operated as a flat fee real estate brokerage or not, they are an excellent choice for buyers interested in downtown Boston condos and real estate because they are specialists in this niche and because they cater exclusively to buyers. Check out all the listings at www.Boston.CondoDomain.com.
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