How It Works
Let the Buyer Pay for the Buyer Agent
Have you ever stopped to think about how a buyer agent gets paid? The seller agrees to pay the listing agent about 6%, then the listing agent shares half of that with the buyer agent. So either you, the seller, or your listing agent pays for the buyer agent to negotiate against you! Huh? That's what we think too. So, what if the buyer negotiated a fee directly with the buyer agent? That's 3% a seller doesn't have to pay. Maybe the buyer and his agent agree to a 1.5% fee, not the standard 3%. Great for the buyer, but you, the seller, don't have to pay for it... the buyer does! Now that makes sense, Home Sense.
MAKES MORE SENSE
One Agent = One Fee
When Home Sense lists your home, we have an obligation to work in your best interest. But that doesn't mean we can't assist the buyer along the way with things like paperwork, meeting contract deadlines, loan information, and helping get your transaction to closing quickly. That means you, the seller, only pay for one agent, your listing agent. So, if a buyer is unrepresented, our fee is 2% total commission, not the standard 6% commission with two agents. When the buyer is represented, our fee drops to 1% total commission from the seller. Right, we sell your home for 1% TOTAL agent commission.
MAKES LOTS OF SENSE
The Secret Sauce Revealed
It’s really just simple math. If a referral is involved in a listing and the listing agent must split their commission 50/50 with their office broker, and the average listing fee is 3%, net commission due to the listing agent is 1.125%. When you remove expensive office leases, the marketing costs for getting the next listing, and fancy agent advertising, this 1.125% gets close to 1% net profit for the listing agent. At Home Sense, we don’t have any of those expenses, so we can START OFF by offering a listing fee of 1%, not the standard 3%.
We conduct a free market analysis of your home before it is listed, pay for professional photography, list your home on the local MLS, guide your home sale to closing with industry-approved paperwork, provide a lockbox and professional yard sign, and provide industry-leading professionalism. We even provide you with our Seller Secrets, an invaluable resource designed to maximize seller profit.
MAKES TOTAL SENSE
The Result? Up to $25,000 Savings on a $500,000 Home
Since we like math, so this is the fun part for us. If the buyer of your home is represented with an agent, your TOTAL agent fees are 1% (to Home Sense) - again, the buyer will pay the buyer agent's fees. If the buyer is not represented, our fee is 2% total commission (the extra 1% is to help the buyer get to closing, but you're still our client). So, the savings on a $500,000 look like this:
Standard industry commission in this case is 6%, or $30,000. But with Home Sense, you only pay 1%, or $5,000. That's a savings of $25,000!