When you prepare to sell your home, establishing a budget and knowing exactly what to expect are critical. One key decision you’ll make during this stage is whether to go with a real estate agent or discount brokerage and pay commission (most commonly 3% of total sale price) or to sell your own home using a flat-fee service. So which is better?
Flat-fee home sales offer you the greatest benefits, and here’s why:
You save money:
When you choose a flat-fee service, you pay one all-inclusive fee that is established and agreed upon in advance. If you work with Home Bay, this fee includes listing your home on the MLS, promoting your listing on popular real estate sites like Trulia and Zillow, ongoing support from a staff of real estate experts, a for sale sign for your yard and more. Learn more about what we have to offer.
It’s easy to calculate what it will cost you to sell:
When you sell your home using a flat-fee service, the fee doesn’t fluctuate with the sale price of your home. That means you can budget from the very start, knowing that even if you experience a bidding war and get $20k over asking price, your fee and the services you receive in return won’t change. This prevents last-minute surprises and makes it easier to plan for your next steps.
The benefits of flat-fee services increase with the value of your home:
The more valuable your home is, the more you can save using a flat-fee service. A flat-fee service may cost $3,500 – and that won’t change, no matter how much you sell for. But to contrast, if you use an agent to sell a home valued at $400,000 and their commission rate is 3%, you’d be paying the agent $12,000. Even more staggering, if you sell a home valued at $800,000, you’ll pay your agent $24,000.
You can see how the savings add up quickly when you go the flat-fee route, especially if you have a high-value home. In California, these savings are especially impactful because the average home value is over $425,000.
Do your research before assuming a real estate agent is the only way to sell your home; you might just save yourself thousands of dollars while achieving the same end result!