What’s the significance of $150,000?

It’s pretty much just math.  Terrace 24 Realty offers a unique listing model called “True Cost by Terrace 24” where the fees for our services are flat and do not vary based on the sales price of the home.  The beauty of a flat fee is that it serves as a maximum fee, so Sellers know that they won’t pay any more than that number.  On the other side, its also a minimum fee.  A traditional real estate agent charges a 6% commission.  Since the traditional model has no minimum, there comes a point where the traditional commission model costs less than the True Cost model.  When we do the math, that number comes out to about $109k.

Transparency is one of the core values of Terrace 24 so we want to be very clear that our model will cost more than the traditional real estate model for homes that sell for $109,000 or less.  We understand that our model is not for everyone, that’s okay.  But you’ll never catch us trying to sell anyone something that we don’t believe is not truly in their best interests.

At $150,000 you’ll be saving about $745 which we think is the point where savings becomes significant for Sellers.  For homes that will sell for more than $150,000 the amount a Seller can save over a traditional commission goes up exponentially.  For instance, a Seller with a home that is worth $400,000 will save more than $8000.  The more your home sells for, the more you, the seller, save!