Do I have to pay your flat fee before closing?
No. While there are many flat fee real estate brokers that charge you their fee upfront, we do not. You pay the Todd Hower Realty flat fee of $5497 after your home is sold, closed, and funded.
Do you provide full service with your flat fee?
Yes. We compete with the top listing agents in the Austin market and we've taken nothing away to accomplish the goal of selling your home.
You sacrifice nothing and get a local real estate broker with over 15 years of experience to represent and guide you through the overall process, local market knowledge, accurate list price analysis, exceptional photography and marketing, interested buyers and the best chance for multiple offers, contract negotiation, and a successful close.
What’s the difference between commission-based and flat fee real estate?
Commission-based real estate, the most common in the industry, is when your real estate broker and listing agent charge you a percentage of the sales price when they sell your home. For example: if they sell your home for $500,000 and you agreed to pay a 3% commission, you will owe them $15,000 at closing, plus whatever you agreed to pay the buyers agent.
Flat fee real estate is when you pay a fixed dollar amount to your real estate broker and listing agent for their services, plus whatever you agreed to pay the buyers agent.
While there are many different versions of this, one of the most common is to pay a flat fee to have your listing published in the MLS. You do the rest of the work to get your home sold. Many of the flat fee MLS brokers operate in multiple markets and states because their model is based on listing a large volume of properties in the MLS but not providing any additional services.
Todd Hower Realty is not your low cost, high volume/flat fee real estate broker, or your high dollar commission based listing agent. You can consider us the “middle of the road” choice to save you money without sacrificing full-service.
Do you charge any fees upfront?
Yes. Two fees are paid in advance, one for photography and the other for marketing.
Photography: Todd Hower Realty uses a third-party service provider for professional photography. We'll recommend a professional photo package to market your home. The prices range from $210 to $595, and the fee is paid directly to the photography company when scheduling the photo session.
MLS / Syndication / Marketing Fee: A fee of $595 is paid to Todd Hower Realty to initiate the marketing campaign, enter your properties photos and detailed information into the local Multiple Listing Service (MLS) and syndicated sites (Zillow, Realtor.com, Trulia, etc.)
Do I have to pay the buyer’s agent a commission equal to 3% of the sales price?
No. While many of our clients do offer and pay the buyer's agent a 3% commission at closing, it is negotiable.
When representing our clients, and based on market conditions, we negotiate many different scenarios and commission structures with represented and unrepresented buyers.
To date, every seller we have represented has offered a commission to the buyer's agent. Regardless of how the buyer side plays out, our clients have saved from $500 to over $170,000 when compared to paying a 6% commission.
Will a buyer’s agent avoid showing a flat fee listing?
No. A buyer's agent does not have access to what the listing agent and seller have agreed on for compensation, so there is no reason for a buyer's agent to avoid showing a listing where the seller and listing agent have agreed on a flat fee for compensation.
Will a buyer’s agent show my home if I offer less than a 3% commission?
There's a lot of unprofessionalism in the real estate industry. And the answer to this question is impossible to know.
Our best answer is this: A buyer's agent will have a hard time trying to hide an active listing from their buyer. So maybe they show the listing, but try to talk their clients out of it. These are the real estate agents that are not representing their client's best interest and it's only a matter of time before they are out of business.
Our experience in this situation is that the market and buyer demand for your home will dictate what you should offer to a buyer's agent. We will share with you what the market supports for your specific property and recommend a buyer's agent commission that gives you the best chance for success.
Are you the least expensive flat fee real estate broker?
No. There are numerous flat fee MLS brokers that will charge you less and only list your home in the MLS.
How does your flat fee work if my home is less than $200,000?
With our flat fee of $5497, when you compare paying a 3% commission to your listing agent, the break-even sales price of the home is approximately $180,000. If your home sells for more than $180,000, you're going to save money when you use our services.
Other real estate agents say: “you get what you pay for.” Why do they say that?
I'm not sure. It sounds like they're having a tough time handling your objection to justify their value and high commission. Click here to read what our clients have to say about "getting what you pay for" when using Todd Hower Realty.