You’ve probably heard that it’s free to hire a buyer’s agent when you’re looking for your next home. This outdated line of thinking probably came from the traditionally confusing process of calculating real estate commissions. However, it is NOT free to hire an agent, and that’s the biggest mistake you can make when buying a home. Here’s what you should know.
Let’s Break It Down
Let’s use a $300,000 home for example. If a seller and their agent decide to offer a 3% buyer’s agent commission and the seller’s agent is charging a 3% commission for their services. That’s $18k in commissions alone.
How does that affect you as the buyer? Many homes are marked up in price to cover the agent commission. How do we know? Because Homie was established because our founders did the math. They knew how much they personally lost to commissions when they sold homes. Now, Homie agents join our disruptive team because they believe the traditional model is broken, too.
The Difference Between Homie Agents and Other Agents
Now you’re probably wondering why Homie agents choose to join a company that believes real estate commissions are broken in a way that favors the agents. Here are a few reasons:
- Our agents can do more deals in a year than most agents do in their entire careers. This provides valuable experience and puts quite a few notches on their transaction belt.
- Our agents are paid salary, offered stock options, and they receive benefits. They can enjoy having a full-time job that they love and supports them consistently.
- Our company values include humility, work/life balance, and prioritizing our employees. Agents join us because these values align with theirs.
- The one reason we hear most often when an agent joins Homie? They love helping their customers and they want a better experience and more savings for them.
Many of our agents would add to this list because their journey to Homie is personal. Ask any Homie and they’ll tell you all the reasons they chose to disrupt the real estate industry! You can read more about Homie agents and what they do here.
When you buy with Homie, you can get up to $5k back to put toward your closing costs! Looking to sell before you buy? Sell with Homie for a low flat fee that’s due only at closing.
Learn More About Homie