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| Flat Fee MLS v. Full Service |
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Let's assume that your house sold for $300,000.00 (Three Hundred Thousand Dollars) and that, in connection with your sale, you paid a flat fee of $300.00 (Three Hundred Dollars) to the listing broker who listed your property in the MLS and 3% of the contract selling price (or $9,000.00) to the buyer's agent for bringing you the buyer. In this instance, your total out of pocket expense for real estate brokerage services would be $9,300.00 (Nine Thousand Three Hundred Dollars). This is calculated in the following manner: $300,000.00 (contract selling price) multiplied by 3% (the commission paid to the cooperating broker for producing a bidder or purchaser) plus $300.00 (the flat fee paid to the listing broker for listing your home in the MLS) equals $9,300.00 (your total out of pocket expense). Now, let’s compare the previous example with using a full service real estate broker.Assuming a contract selling price of $300,000.00 (Three Hundred Thousand Dollars) and an average traditional brokerage commission of 6%, your total out of pocket expense would be $18,000.00 (Eighteen Thousand Dollars). This is calculated as follows: $300,000.00 (your contract selling price) multiplied by 6% = $18,000.00 (your total out of pocket expense).
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