Our model is based on a pricing structure that makes sense, not on discounting our service. The benefit to the consumer is that by charging based on the service itself versus the value of your house, most Sellers stand to save a good deal of money. The more your house is worth, the more you will save. We consider the cost savings as a bonus for doing business with us, not the soul purpose of doing business like many discount brokers offer. Right now our model only works for the Listing Agent’s commissions. Unfortunately, the way the Buyer’s Agent is paid for bringing their qualified Buyer to you is not something we can reasonably change right now. If you want to sell your house and have buyers agents show it, you will have to pay them the way they have traditionally been paid. This is a 3% commission. Paying less will result in little to no activity on your listing which would defeat the purpose of listing your home.
Cost Comparison of Traditional Agent vs Terrace 24
|Your Home Sale Price||Traditional Commission (6%)||Terrace 24’s Total Fees (Including Buyer’s Agent’s Commission +FMLS Fee)||Savings with Terrace 24|
* The above numbers use the Average Full Service Order of Terrace 24 customers of $3500. Customers have the option of ordering more services or less services so prices can vary up and down.
In Metro Atlanta (and most parts of northern Georgia) the best exposure tool is the First Multiple Listing Service (FMLS). If you’re not listed in this system, you won’t get the maximum exposure necessary to sell your home. FMLS charges a fee to list with them of .12% of the sale price of your home. We don’t like this either, but it is the cost of doing business with their current model. We tell you this to keep with our promise to you the consumer of complete transparency and it is not an optional fee. So for all intents and purposes, the cost to you that will be based on the sale price of your home will be 3.12% of the sale price (that’s 3% for the buyer’s agent and .12% to FMLS).
The part of the Real Estate Fee where we can save you money is what you are paying us, your listing agents. This is where you have options, to select which services you want to pay for, and we show you what each of those services cost, regardless of the sale of your home. On average, if you select our base listing package along with Full support from our team of expert real estate agents that serves you every step of the way from the time you get your first offer until the closing is about $3500 (regardless of how much your home is worth). Of course if you have a unique property that you believe needs extra services to get sold, we offer a menu of any service you could think of that you can decide to purchase anytime. If you don’t feel that you need our assistance with offers, negotiations, due diligence or with handling all of the details between the time you go under contract until the time you close, you have the option to not pay for those, and of course if your home does not sell, all you pay for are the services that we have performed for you and nothing else.