May 09, 2008
How can we improve our money-saving Menu of Fees & Rebates?
It's been more than a year since we updated our Menu of Fees & Rebates, so we'd like to invite home buyers to meet in person to discuss possible improvements. Our current options are shown above (click on arrowheads in outline for more detail) and on our wiki.
- We offer three basic options: traditional commissions with limited rebates, hourly fees with full rebates, and flat fees with performance bonuses
- Our most popular options include a 100% rebate of the buyer agency commission included in the sales price.
- Our hourly fees range from $75 to $125 per hour depending on the size of retainer prepaid (or $150 per hour with no retainer or minimum fee).
- Limited availability: Flat fees start at $3,000 plus performance bonus. Each performance bonus is negotiated individually to motivate us to help you maximize saving (see map of savings totaling over $1 million).
- We're also willing to work with a few buyers on a 1% fee option, some restrictions apply.
- Finally, you can propose your own fee / rebate, particularly if you are selling "for sale by owner" and would like us to represent you as a buyer. That way you can maximize savings both buying and selling.
Our ideal is a mix of fees -- hourly, flat fees, and traditional. If you select option 3.3 and prepaid $3,000 in the next few days, we'll cut our hourly rate by 50% for the first 40 hours. We're pushing this special offer so we can attend the National Association of Realtors mid-year convention next week to identify the best new money-saving tools and trends for home buyers and sellers.
Should we host a series of webinars or meetings off-line to discuss the benefits of each fee / rebate, and to help new clients decide which money-saving option best meets their needs? We can meet on short notice at a local cafe or in the privacy of your home. We're also eager to begin meeting at TogetherInMotion in Arlington, MA so working parents can talk over food while their kids play. Please contact us for additional information.
Bill Wendel | 03:54 PM in "We" companies, Client Feedback, Commission Reform, Do-it-yourself, Fee-for-service, Inside The Real Estate Cafe, Savings & Rebates, Social Networking, Unbundling the Commission | Permalink
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"Finally, you can propose your own fee / rebate, particularly if you are selling "for sale by owner" and would like us to represent you as a buyer. That way you can maximize savings both buying and selling."
Is this trying to get people to go FSBO or are you saying if they are already doing it?
Posted by: Greg Broadbent | May 19, 2008 7:39:02 AM
The Real Estate Cafes invite potential clients to propose their own fee, whether they are selling for "sale by owner" or not. We've been pleasantly surprised by unsolicited offers of bonuses.
Posted by: RealEstateCafe | May 19, 2008 8:04:27 AM
What happens if the buyer does not buy? I suppose this 100% commission rebate plan would work if the broker will unequivocally receive compensation if the buyer decides not to buy a home after several hours of work on behalf of the broker.
As an alternative, the home buyer should consider a smaller realtor cash back rebate if they don’t want to incur this cost should they opt not to buy.
Posted by: Home Buyer Rebates Georgia, GA | Jun 2, 2008 12:39:33 PM
Thanks for sharing the fee schedule.
Posted by: Keahi Pelayo | Jun 3, 2008 3:34:53 PM
our national debt is trillions of dollars. saving your rebate isn't going to make a difference so might as well use it as you see fit.
Posted by: john beck real estate sytem | Jun 8, 2008 11:51:19 PM
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