Thanks to efficiencies created by new technologies, real estate agents can now better serve developers. Thanks to the internet, virtual tours, contract programs and the like, agents can now assist developers much more quickly than before.
Despite being more efficient, agents have yet to pass the savings along to developers. That was until now. Flat Fee recognizes that the efficiencies created by technology mean that agents are spending less time working for developers on selling units. We believe that savings should be passed along to developers in the form of reduced rates.
Here is our pricing structure for developers. We offer buyer agents 2% (unless the client would like to offer buyer agents more) in addition to our per unit fee.
3-5 units - $1,750 per unit/listing
6-10 units - $1,500 per unit/listing
11-19 units - $1,250 per unit/listing
20+ units - $750 per unit/listing
Here are a couple of comparisons of our fee structure and those of a commission based broker:
Example 1: Subdivision of 4 Units with Average Sales Price of $275,000 with 2 Buyers with Agents and 2 Buyers Without Agents
Using Flat Fee
Our Fee - $7,000
Buyer Agent Fees - $11,000
Total Fees - $18,000
Using Commission Based Broker (based on a 6% model)
Seller Agent Fees - $49,500
Buyer Agent Fees - $16,500
Total Fees - $66,000
Savings with Flat Fee - $48,000
Example 2: Condo Building With 22 Units With Average Sales Price of $175,000 With 22 Buyer Agents
Using Flat Fee
Our Fee - $16,500
Buyer Agent Fees - $77,000
Total Fees - $93,500
Using Commission Based Broker
Seller Agent Fees - $115,500
Buyer Agent Fees - $115,500
Total Fees - $231,000
Savings with Flat Fee - $137,500
In addition to the traditional services, we also offer enhanced services to create better produced content and listings for our clients. For developers, we create a separate website for your project. We have the ability to upload floor plans, homeowner association documents, pictures, videos and more to the project’s website so that buyers can find detailed information online. Once a model unit is complete, we have a video of the model produced that is then uploaded to the project’s website as well as other sites, including MLS and Realtor.com.