IN THE DENVER MARKET HOMES ARE SELLING QUICK AND FLAT FEE REAL ESTATE AGENTS ARE BECOMING POPULAR BECAUSE HOMES ARE EASIER TO GET SOLD. IF YOU ARE THINKING ABOUT SELLING, CHECK OUT HOW WE STACK UP AGAINST THE FLAT FEE COMPANIES RIGHT HERE!
Recently three flat fee companies have been prevalent so we wanted to see what the numbers really are. In this article I will break down the important statistics for every homeowner when they select an agent. All figures are from the MLS.
The industry standard for a residential property sale in Denver Metro is 6% of the purchase price with 2.8% of that going to the agent that brings a buyer and 3.2% of it going to the agent that has the house for sale. At Colorado Team 6% is the most we have charged. We don’t have admin fees or anything on top, and we always pay at least 2.8% to the buyer agent so they are happy to show our listings.
Here we look at how close your house sells to the price you are asking for it. I price my listings on the high side so that we don’t leave any money on the table. Our average asking price to sales price is 99% because I am a certified negotiation expert and I put that to work for you. I am also motivated to fight for you because you are paying me well. An agent that is only making $2,500 will be less motivated to get your home sold. You can see in the figure below that their homes sell 3%-4% less than our listings.In the figure above a flat fee company looks great and it is an excellent selling tool for them. Lets dig deeper and see how much money you walk away with.
In the figure above we earn you 3% on average back against the top three competitors. There is still a .2% advantage with Competitor 2 and 3.
How does all of this break down? Here is a look at the Seller Net by price range.
In most cases we net the seller more money. You can see on the $1M house we lose by $20. Here is some extra credit worth considering.
The average time on market for one of my listings is 8 days. The competitors average is 37 days longer. That means you will have an extra mortgage payment with each company and more time showing the house to prospective buyers.In most cases we net the seller more money. You can see on the $1M house we lose by $20. Here is some extra credit worth considering.
Google: my real estate agent is and see what auto populates. The top four searches are unresponsive, doing nothing, lazy, and slow. When that happens the agent gets fired or your house does not sell. At Colorado Team, we have never had that happen. We provide great service and hope to become your real estate resource.
Selling a house is stressful for most people. What is it worth to you to have a company that can and will get your house sold quickly and for top dollar?
Here are the top three reasons I am able to put more money in your pocket than a flat fee company.
- Our brokerage is focused on finding BUYERS and we have the resources to do it. Flat fee listing agents are focused on finding another listing and letting your house sit on the MLS until another agent sells it.
- Our brokerage is national. Last year 124,000 people moved to Colorado. A company with national reach is a huge advantage for you.
- Our marketing is very attractive and we spend lots of money to show off your house. When people inquire on your house, we follow up with them within 5 minutes. Test us!
Saving on commission does not give you the most money in your pocket at closing. Hire an agency that is interested in finding you a buyer not listing your house and they will get you the highest price.