Real Estate Myth Busters
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.
findwell is a discount brokerage
A discount brokerage charges lower fees in return for a lower level
of service. We provide the same level service as traditional brokerages,
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.
