If you’re like most people, you don’t know much about the real estate business, other than you pay the realtor a commission when they sell your house. Usually, you pay the commissions for your agent and the buyer’s agent, which can take a significant chunk of money out of the equity you get from your home.
Therefore, some people choose to work with a 1% real estate broker because, regardless of how much work the real estate agent does, you only have to pay one percent of the total cost of the home. If your house gets sold for $100,000, that means you only pay the broker $1,000.
The ultimate goal of using such a broker is that you can save money. Most real estate agents charge three percent commission. For a $100,000 home, that equals to $3,000 that you pay the agent for the work they provide. Of course, they do a lot of work to help you list and sell your house, so they do earn it. However, after the initial effort, much of their work is done online with some in-house showings. You may spend more for a well-known realtor, but as the listings are all in the same place, you can save significantly on a 1% commission broker with little difference in the outcome.
What You Get
Each company works differently and has different features, but most of them offer similar services. You will always get your home listed on the MLS (Multiple Listing Service). That means you can reach more buyers and their agents regardless of the other features offered to you.
The real estate company with which you work also determines the market value of your home to ensure that you list it for a good price to get you the best offer for your property. The agent will present a marketing plan that may include social media, websites and television exposure.