A flat-fee property agent service looks attractive to property sellers. Selling real estate is different from ride-hiring transport services; you pay a flat fare, and the driver brings you to your destination regardless of traffic conditions. As for selling real estate, whether a property agent charges a flat fee or is commission-based, your property doesn't necessarily sell at the highest possible price!
A property agent charges a fixed fee for their service, regardless of the final selling price of your property. Whether your property is sold for $500,000 or $1,000,000, there is no difference in the fee the property agent receives.
Property agents may be motivated to sell quickly, as their fee does not depend on the final sale price.
Most flat-fee property agents require you to perform some DIY tasks; some flat-fee agents do not conduct property viewings; basically, they help advertise your property online and arrange viewing appointments. Conducting property viewings by the seller's agent is important for him or her to answer enquiries from potential buyers on the spot, understand buyers' needs and objections, and detect buyers' buying signals.
The property agent service fee is based on the percentage of the final selling price of your home; however, property agents can charge different percentages. There is no standard commission rate; it depends on how property agents manage their costs in conducting the business. Shop around, especially in the internet arena, where the property agent’s fee and service included are transparent. Check out our agent's fee for selling your HDB flat, which is 0.5% nett of the final price.
If the property doesn't sell, you won't be out of pocket for the agent's fee.
The property agents are motivated to push for a higher closing price as their fee is based on the percentage of the final selling price of the property.
With a highly competitive industry, you may receive more than full property agent services, from preparing your property for sale to completion with peace of mind. Interviewing potential property agents to find out their strengths and expertise, especially in the internet arena, the property agent's digital marketing skill are something worth considering.
Ultimately, whether a flat-fee or commission-based fee structure It's crucial to communicate openly with potential property agents, understand their fee structures and sale strategies, and evaluate how well those services align with your goals: selling at the highest possible price, having peace of mind, and lowering your selling costs. Don't hesitate to schedule a non-obligation discussion with me for more information.
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