How We Handle Co-Broking
Your Home’s Sale
Like nearly every business in the last 20 years–computers, laptops, cell phones, Wi-fi, the internet, phone scanners, portable printers and much more have made the day to day life of real estate professionals exponentially a lot easier. A 12×12 home office and a mid-size SUV have replaced real estate offices these days.
Once buyers figure out where they want to live and have a good idea of their housing needs, they can get a pre-approval for a mortgage online. If they don’t already have a buyer agent to work with, they can find one of those online also. Some buyer agents aren’t likely going to appreciate me saying this, but their job has actually gotten a lot easier in the last 20 years with all the technology available today. You don’t need to be a business major to know that if you’re saving time, you’re saving money!
New Day Realty Services believes that if home buyers and their buyer’s agents are saving both time and money thanks to technology, shouldn’t the home seller be able to share in today’s technological advantages?
Based on that question, along with the three other considerations below, the home seller with their listing broker can and should be determining what a fair and reasonable compensation for buyer agents should be for their services.
- The seller’s motivation
- The homes’ location and condition
- Market conditions at the time
Even in a neighborhood of so called “cookie cutter” houses, no two houses can be alike. So, we put as much emphasis on those three above conditions as well as the home’s value when setting a fair compensation rate for the co-brokerage fee, or rate. The compensation or commission can be a flat fee or a commission rate ranging from 1% to 3% or more.
