Frequently Asked Questions
I sell homes for a flat fee of $3,000 plus 2.5% co-broker commission - regardless of the price of the home. There’s not much fine print - but I want you to know exactly what you’re being charged and I don’t want any prices to be a surprise.
Here are some things you should know:
- Does this include closing costs? No, the fees that you see are the fees to sell your home, not your closing costs. We’re not aware of any real estate agents that include closing costs as part of their fees - these are commonly separate costs that are charged at closing.
- Does a lower price mean a lower level of service? There’s a myth that there are two types of brokerage: “Full service” and “limited service,” and that anyone that charges less than 6% commission is “limited service.” Some agents will use this to scare consumers into thinking that anything less than 6% commission will mean worse service, and it’s simply not true. I do this by working efficiently and with low-overhead and I believe that real estate agents should be working to lower prices. Listing homes isn’t the only thing that I do; there is less pressure to make a lot of income on each listing.
- Can I go lower than the 2.5% buyer agent commission? Sellers can consider offering a lower commission to the buyer’s agent, but I wouldn’t recommend it. When real estate agents see the amount of commission offered as part of the listing. It’s not ethical to steer clients away from homes with a lower commission, but agents are human and I don’t want there to be any risk of an agent not bringing buyers to your home. I hope these costs go down as our industry changes but for now, I wouldn’t recommend going lower than the 2.5%.
- Why are you offering this service? I’m doing this because I really believe that it doesn’t need to cost this much to sell a house. I’ve purchased over 20 properties myself as an investor, and have seen first hand how expensive the process can be. The more I learn about the industry, the more I understand that there are smarter and better ways to do things. I think we need to actively work to make it less expensive to buy and sell a home. The industry is changing, and over time and the market will make this happen. But for now, I want to do my part in speeding up this process to make it more affordable to buy and sell homes.
- What if I want to cancel the listing agreement? Minnesota and Wisconsin state law allows for cancellation of a listing agreement at anytime. There is one thing that I do differently than other agents; if you cancel the contract I will send an invoice for $250 to cover the cost of the digital advertising, design of flyers, printing of flyers, and photographer. Because I’m absorbing these costs ahead of time, I will bill you $250 to cover these costs if you cancel the listing.
- Do you offer any discounts? I offer a standard “friends, family, and neighbors” pricing of $2,500 that I extend to downtown Minneapolis condos and to investors who are “flipping” homes. Why downtown Minneapolis? I live and work in downtown Minneapolis, understand the market, and can do these listings more efficiently. Why investors? Investors who are flipping homes have taken the time to understand the market and offer a quality home. I want to help them
- What does your service include?: This fee includes all of the traditional real estate agent services (here’s a great article on the benefits of listing with an agent). Some highlights of what an agent can do:
- Advise on pricing.
- Advise on steps to get your maximum value (upgrades, rehab, repairs, staging, and more).
- List the property on the Multiple Listing Service.
- Advise on complying with state and local laws.
- Manage the showing process.
- Provide ongoing updates on listing progress.
- Present offers and negotiate.
- Advise you on the closing process.
- For Sale Sign (where allowed).
- Do you offer more than a typical agent? This fee includes everything above, and a few things you won’t see from other real estate agents.
- Promoting your listing to our proprietary “Buzzmaker” digital universe. We’ve spent time (more time than I’d like to admit) researching and testing the best digital universes to reach potential buyers and have developed a special digital universe to help promote our listings. We want to do two things: 1) get your ad in front of other real estate agents and 2) reach potential buyers who may be open to your listing.
- Promoting to investors. Not everyone’s home is made for investors, but some are good fits. We’re building a list of and keeping memberships with the top real estate investing associations and promote all listings there. Many agents overlook the investor market (add a link to blog post on the investor market) because they’re not familiar or experienced with these sales. Investors who purchase your property typically move quicker on decisions, close quicker, place and less requirements on the sale of your home.
- Dropping flyers off to your neighbors. I have a team in place that will drop flyers for your listing to 200 of your neighbors. If I run into a neighbor, I’ll talk with them and ask their help in spreading the word.
- A “Bulletin Board Blitz.” We drop off off listing flyers to any local business within half a mile that has a bulletin board. Find one that you want us to be sure to stop by? Just let us know.
- “Seller Training Program.” We offer a “Seller Crash Course” training program to help you better understand the different steps of the sales process. These pre-recorded videos can be watched anytime and include helpful handouts to help you manage your role in the selling process. The training isn’t required, but for sellers that want to feel informed and educated, these short trainings will help.
- Seller “Comfort Packet.” I’ve organized a small package of items that could help you make the selling process a little easier.
- Are you available to help throughout the process? Yes, my team and I are here to support you every step of the way. I like to check in via phone at least twice per month, send regular - but not daily - updates on progress, and prefer email/text updates to calls. Sellers that need more or prefer longer and regular calls may be a better fit for other agents.
- I see that you’re a licensed agent in Wisconsin. Do you offer this service there? Yep! If you want to list in Wisconsin, particularly the greater Milwaukee area, please contact me and let’s discuss.
- What do you charge if you represent both the buyer and seller? Most listing companies charge you a flat percentage, often 6% - and they charge the full 6% if they find a buyer on their own. I don’t do that. If I find a buyer, I charge an additional fee of $1,500 to represent the buyer - for a total of $4,500.