Real estate commissions are fixed at 6 %
There is no law or rule that requires real estate commissions to be 6%. The amount
was standardized by large brokerages long ago when home prices were a tiny fraction
of what they are today.
A discount brokerage charges lower fees in return for
a lower level of service.
We provide the same level service as traditional brokerages (although we think we provide better service!), but at a price that
we think reflects the time and effort we need to buy or sell your house.
The best agents would never work for findwell because
we pay a salary
Which would you rather have, an agent who spends 100% of their time evaluating homes
and negotiating deals, or an agent who has to spend 50% of their time searching
for their next customer? Our agents are paid a salary that is higher than the industry
average, plus are able to focus 100% on what they do best, which is negotiating
deals. Customers tell us that they love our service and would recommend us to their
friends.
The internet will make real estate agents obsolete
The internet does drive huge efficiencies into the real estate market and will continue
to lower the transaction costs of buying and selling homes. However, we believe
that there will always be a role for real estate agents. The purchase of a home
is the most complicated transaction that most consumers will ever take part in,
and most consumers want the guidance and expertise of an experienced agent to help
them through the process.
If findwell charges me half of the normal commission to
list my house, I can also pay half of the normal commission to the agent who sells
my house
You could do this, but that approach generally won't get your house sold. Commissions
are a powerful motivator for agents to show your house. You should pay a selling
agent commission that is at current market rates, otherwise you run the risk of
reducing the number of buyers who see your property.
