| Flat Listing Fee: When you
list your home with BuyHomes.com we charge $555 upfront. |
| |
| Commissions When Your Home Sells: |
|
WHO finds the Home Buyer? |
TOTAL |
| BuyHomes.com |
Listing Broker |
.0001 Total |
| Via BuyHomes marketing |
| Cooperating
Broker |
Broker working with
buyer |
Additional
MLS Finder's Fee
( 2% to 3% is typical.) |
| Buyer's Agent / Selling
Broker |
BuyHomes.com Finder's Fee: When BuyHomes.com finds the buyer for your
home (and the buyer has not been working with another MLS agent who may
claim the cooperating finders fee described below) then BuyHomes.com charges
our sellers just .0001 as our commission - that's all!
How Much is .0001 of the Sales Price?
$1,000,000 home = $100
$500,000 home = $50 |
$300,000 home = $30
$200,000 home = $20 |
$100,000 home = $10
$50,000 home = $5 |
|
| Cooperating Agent Finder's Fee: In order to place your home on the
MLS, you the
home seller must offer a finder's fee to an MLS "Cooperating" broker
thru BuyHomes.com LLC. Cooperating agents and brokers may be "Seller's
Sub-Agents" or " Buyer's Agents" (see below) who are members of the
MLS, and they
may find your home with the involvement of an agent who is a member of
the MLS organization. BuyHomes.com LLC is legally responsible for this
finder's fee.
BuyHomes.com has a good reputation with the
brokers who have Buyers:
2% to 3% is a typical incentive for an agent with a buyer to sell
your home...
95% of our sellers choose 2.4% (or higher)
|
Selling Brokers work with buyers but they do not "represent" the
Buyer. Selling brokers owe their primary loyalty to the Seller's
Listing Brokerage. They may also be called Sub-Agents or
Seller's Agents/Brokers but they are not Buyer's Agents unless hey
have signed a contract with the Buyer.
Selling Brokers typically bring ready, willing & able buyers to
purchase your home - but only if you the home seller offer the
customary finder's fee.
|
Buyer's Agents work for the home buyer whom they "represent" having
signed an agreement (the Wisconsin form WB-36). Buyers agents are
obligated to protect the home buyer's interests including price &
terms of an offer, so sellers may want to be more cautious when
dealing with a buyer's agent. The buyer is obligated to pay their
buyer agent's fee, but this fee is usually obtained from the listing broker
or home seller directly.
|
When the seller does not offer the customary finder's fee: A buyer who
has a Buyer's Agent may request that the seller pay their agent ( so the fee
can be financed into the buyer's total loan to purchase the home instead of
being paid out-of-pocket by the Buyer). This possibility exists even if you
are selling "For Sale By Owner" and you are not on the MLS, so make sure
you consider this when deciding your home's listing price and what to offer
cooperating agents.
|
Cooperating Agent Finder's Fee recommendation: Cooperating MLS
brokers need an incentive to sell your home to their buyers.
BuyHomes.com allows you to choose a rate as low as 2.0% or as high as
you wish... many of our sellers offer 2.5%, 2.6%, 2.8% or even 3.0%
because they are still saving about half the commission because the
seller is doing the listing agent's work.
Based on my research of the surrounding region's MLS properties for
sale and discussions with sales agents in both markets; I recommend
the following:
Madison Metro Area: I recommend you offer at least 3.0%
percent commission.
Milwaukee Metro Area: I recommend you offer at least 2.4%
percent commission.
In a competitive selling market I recommend that you consider a higher
cooperating broker fee than those listed above for your area, perhaps
3% or 4% (and why not since you'd pay more with a Full-Service
broker?) ... If that's too much then consider offering a "bonus" of
$500 to $1000 on top of the customary rate to make the property stand
out from the crowd of customary commissions.
BuyHomes.com may end up finding the buyer and then you pay just .0001
of the sale price at closing: Offering a finder's fee or any bonuses
does not necessarily mean that you will be required to pay this amount
when using the services of BuyHomes.com, because that only happens
when another cooperating MLS member is involved in the transaction in
some way.
If you do not have an attorney representing you to assist with the
paperwork: then I strongly advise you get an attorney to help you with
paperwork and negotiation - or else offer a "bonus" as an additional
incentive to any cooperating MLS agent who may feel they are doing
"more work". (WI Law may require an agents who 'delivers' an offer to
also give a general explanation - something an attorney should
typically handle with a limited service broker.)
|
Note: BuyHomes.com is a licensed real estate broker in the state of
Wisconsin & a REALTOR®. When you list your home with this
service you are no longer a "For Sale By Owner". Home sellers are reminded
to disclose the listing broker's name 'BuyHomes.com' and your MLS number in
any advertisements, flyers, or yard signs other than those provided by
BuyHomes.com.
|
Call Andy at (414) 940-5555 or Sign-Up
to set an appointment |