Sounds too good to be true. What’s the catch?
There is no catch. There are no up-front costs or hidden fees. We literally provide more services and charge less commission than most traditional brokerages.
There must be something I am not getting for 1%?
Actually, we offer more than the traditional brokerage. We have a professional photographer take the photos of your home to be used in all the marketing. We create a custom property website for your home. Your home is featured on the top websites where buyers are beginning their search – Zillow, Realtor.com, Trulia, Craigslist, and hundreds more. We provide high quality color flyers, front yard signage, broker lockbox and mobile text feature for buyers to download all the information about your house to their cell phone instantly. Most 6% brokers DO NOT offer all these services.
Why do you only charge 1%?
Because it is a fair price. Especially in this economy where people have lost quite a bit of equity in their home – it seems hard to justify anything higher. Over the past few years, the internet has leveled the playing field as far as the availability of information regarding real estate. Similar restructuring of pricing models has occurred in the travel, insurance and investment industries. While it will always be important to use a licensed Realtor when buying or selling a house, it is time for the real estate industry to catch up. There is simply no way to justify historically high commissions in the real estate industry.
Are there up front costs or hidden fees?
None whatsoever. If we list your house and it does not sell – you will not pay us a penny.
Why do other brokers charge 6%?
Most brokerages created their business model based on the full commission pricing model. They have large office spaces and extremely high overhead. Also, we do not advertise in the newspaper. This is extremely expensive and ineffective. All of our marketing is web-based because that is where buyers are looking for their next house. Typically, this 6% commission is split – 3% to the listing broker and 3% to the buyer’s broker.
How much commission should I offer the buyer’s broker?
We suggest offering the buyer’s broker a 2.5% commission. This would make the total commission you pay when your house sells 3.5% – (1% to Change Realty and 2.5% to the buyer’s broker). Approximately 65% of all listings offer this 2.5% amount of commission. You can offer a higher percentage to the buyer’s broker as an “incentive”, but typically it is not necessary.
Do you just list my house in MLS?
No. We are with you every step of the way. We have a professional photographer take high quality photos of your house and use those in all of our marketing, including: color flyers, custom property website and an eco-friendly perma-flyer for the sign post. We hold open houses and brokers opens. We represent you in all interactions with buyers and brokers. We field all calls from people interested in viewing your house. Your phone number does not appear in the listing. We will help you negotiate the best possible price for your home and be with you through the entire home inspection and closing process.
What is RMLS?
RMLS stands for Regional Multiple Listing Service. It is the local Portland area service that provides all the data for homes available for sale in the Portland Metro area.
Will other brokers show my house to buyers?
Yes. While other brokers might not appreciate our value pricing, the 1% listing fee is an agreement between Change Realty and the seller. The amount of commission offered to buyer’s broker is no different than other listings in MLS (suggested 2.5-3%). Also, the buyer is typically the one determining which houses they want to look at. They do their research on the internet and then their broker will arrange access to the houses they choose to view.
Do you do open houses or brokers opens?
Yes. We typically hold a brokers open on the first Tuesday after the house is listed and open houses as agreed upon between the seller and broker.
Who takes the photos?
We use a professional photographer to take high quality photos of your home for use in all web advertising and print marketing. These photos also help “tell the story” of your home on the custom property website created for you.
Is there an extra cost for the custom property website?
No. Creating a custom property website is one of the standard services we offer with all of the homes that we list for sale. The MLS only allows sixteen (16) photos and 380 characters to describe your home. The website is unlimited. It allows us to expand with more photos and paragraphs to help “tell the story” of your home.
How can I see some of the houses your company has already sold?
From the home page on our website, click on “Featured Properties” and go to the drop-down option of “Sold Properties”. You can also view “Pending Sales” and “Active Listings”.
Where will my house be advertised?
Your home will be advertised on hundreds of websites. Any real Oregon estate with a “home search” option on their website will feature your home. We also pay extra for enhanced placement on some of the more popular website where buyers go to start their search, such as: Craigslist, Zillow, Trulia and Realtor.com.
Will you advertise my house in the newspaper?
No. Buyers are looking for their next house on the internet. All of our marketing is web-based.
Does your company also work with buyers?
Yes. Our knowledgeable and experienced brokers also work with all types of buyers – from first time home owners to savvy veterans. We are ready to earn your trust and earn your business with our neighborhood-specific approach to assisting in all phases of the buying process.
