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I got a flyer in my mailbox concerning a realtor that is willing to sell my home for a flat fee of $595. That's it. No commission. For this flat fee I will receive the following:
yard sign
brochure box
custom flyers
lock-box
appointment service
daily feedback report
transaction negotiation
submit paperwork to title co.
review closing documents
advertise in the multiple listing services, realtor.com, moveinmichigan.com,preferred listing on homecitysearch.com, detroit free press and news advertising, mihomehunt.com listing
They claim there are no catches, no gimmicks, no hidden costs at closing. The company is called Hometown Realty. I'm in Michigan.
Does anyone have any experience with this method of selling their home and are there any negatives?
I currently have my home listed with a realtor. My six month contract will expire in April. If I sell my home I will have to pay out 7% commission...3% to my realtor and 4% to the buyer's agent. If I only had to pay a flat fee of $595 I could afford to drop the price of the house and possibly sell it faster and make more profit for myself.
I can't say that the realtor I have now is doing a bad job. I did have one buyer that backed out at the closing table. She decided she just couldn't afford the house but had been approved for the loan. I had to hire a lawyer to try to get the good faith deposit turned over to me. I then found out my realtor's company would be entitled to half of that deposit which I don't think is fair but agreed to in that multi-page contract I signed without reading. :) So far, I haven't seen a dime of it. Apparently, the buyer has to agree to release the money and she won't do it. She wants half of it back. Sheesh! There have been a few other things that have ticked me off and I'm ready for a change but am unsure if this is the way to go.
All comments appreciated.
Brenda
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