How It Works
The flat fee that you pay replaces the much higher listing fee, usually 2.5% to 3.5% of the sales price, that you otherwise would pay if you were using a full service Listing Broker in your local area. As a result, you will not have to pay additional fees to the listing broker that are typically based on the contract selling price.
You will, however, be required to pay a Cooperating Brokerage fee, usually between 1.5 to 3.5 percent, stated as a percentage of the total purchase price. The title agent conducting your closing will be be instructed, pursuant to your purchase and sales agreement (or listing agreement), to disburse any fees due to the Cooperating Broker.
Consumers will:
- Deal directly with a licensed real estate broker in your state.
- Wipe out the listing brokerage commission and save thousands.
- Stay in control by eliminating certain contractual risks that are present when using a full service real estate broker.
- MLS Listings are updated in real time and are available for public viewing on www.Realtor.Com 24/7.