Have you ever paid someone $18,000 to do a week or a month’s worth of work? Sounds crazy right? What if we told you that the person you paid, turned around and hired someone else to do the job? You’re thinking that’s bonkers too, right? Welcome to the real estate industry.
The Traditional 6% Commission
There are many problems with this industry, but the traditional 6% commission takes the cake. We all know that the current market is incredibly hot and some homes even sell in a few days with multiple offers.
Having sold almost two thousand homes in our two year history, our real estate agents and attorneys take care of our clients while saving them thousands of dollars. Through our experience, we know that homes sell quickly and agree that you don’t need to pay such high fees. You need to ask yourself: is it worth it to give away so much money?
Your Agent Pays Another Agent to Sell Your Home
When you hire a traditional agent to sell your home, they have you sign an agreement to pay them a 6% sales commission (*commissions can be negotiated agent by agent). Keep in mind that 6% of a $300,000 home is $18,000! Your agent will usually split this commission (3% they keep and 3% they share) with a buyer agent. It’s the buyer agent who is actually showing and selling your home. The typical process looks like this:
- Seller agent convinces you that they can sell your home
- Seller agent takes photos, helps you price home, lists your home on the MLS (listing service where agents look for homes)
- Seller agent puts lock box on door to let buyer agents into your home
- Random buyer agent sells your home to their buyers
This isn’t a comprehensive list of what an agent does for you but I hope you see our point. Our point is that this industry is backwards and needs some help. Ask most agents and they will tell you it’s the buyer agent that does most of the work. The seller agent simply lists the home and helps with paperwork. So, does it make sense to you to pay these type of commissions to sell your home? It doesn’t makes sense to us either.
Stop the Madness — Save Money with Homie
At Homie, we think this industry needs an update. We’ve built a platform where you’re not paying two agents HUGE commissions to do a job that you mostly do.
To be clear, we have nothing against real estate agents. In fact, we love them. In fact, we are them. The team at Homie is made up of real estate agents and attorneys, helping you through the process of buying or selling a home. We simply feel it’s time for this outdated industry to make a few changes to benefit consumers.
Selling Your Home with Homie
The best part is, Homie works! Our clients’ homes sell for top dollar and sell quickly. Our real estate agents and attorneys are split into teams of specialists. Our pricing specialists have years of industry experience. They use MLS data and technology to help you price your home. Another agent team focuses exclusively on negotiations and assists with the paperwork.
Don’t confuse us for those companies that simply buy your home for cash. They maximize their profit by buying it as cheap as they can from you and then selling it for more. The worst part is, they will still charge you 6% to 12% in commissions. Does that sound like a good deal? Um, no. Our goal is the get you the highest price for your home while paying the least amount of fees.
The truth is, selling a home is a pretty simple process. Are there complications that pop up from time to time? Of course, but our team of agents and attorneys guide you through the whole processes, including when some of those tricky situations come up. Once you know what actually happens during the selling process, it just makes sense to kick the old system to the curb. We are committed to customers, not commissions.
PS — We can also help you buy a home and get a loan through our sister company, Homie Loans*! We’re transforming the entire home buying and selling process! We’ve got your back.
*Homie, a real estate brokerage, has an affiliated business relationship with Homie Loans, a mortgage brokerage.