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| Flat Listing Fee: When you
list your home with BuyHomes.com we charge $444 upfront for 6 months, if you need more
time after the initial 6 months then you may add an additional 6-month time period for
a fee of $199. |
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| Commissions Due When Your Home Sells: |
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WHO finds the Home Buyer? |
TOTAL |
| BuyHomes.com |
Listing Broker or Seller |
No Commission! |
| Via BuyHomes marketing |
| Cooperating
Broker |
Buyer's Agent / Sub-agent
Selling
Broker |
Just Pay the
MLS Finder's Fee 2.4%
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BuyHomes.com Finder's Fee: When BuyHomes.com finds the buyer for your
home or your find the Buyer yourself (and the buyer has not been working with another MLS agent who may
claim the cooperating finders fee described below) then You pay no
additional commission! - Wow!
How Much is 2.4% of the Sales Price?
$1,000,000 home = $24,000
$500,000 home = $12,000 |
$300,000 home = $7,200
$200,000 home = $4,800 |
$100,000 home = $2,400
$50,000 home = $1,200 |
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| Cooperating Agent Finder's Fee: In order to place your home on the
MLS, you the
home seller must offer a finder's fee to an MLS "Cooperating" broker
thru BuyHomes.com LLC. Cooperating agents and brokers may be "Seller's
Sub-Agents" or " Buyer's Agents" (see below) who are members of the
MLS, and they
may find your home with the involvement of an agent who is a member of
the MLS organization. BuyHomes.com LLC is legally responsible for this
finder's fee.
BuyHomes.com has a good reputation with the
brokers who have Buyers:
2.4% to 3% is a typical incentive for an agent with a buyer to sell
your home...
* 12-Month-Plan Sellers may choose 2.0% but this is not
recommended.
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Selling Brokers work with buyers but they do not "represent" the
Buyer. Selling brokers owe their primary loyalty to the Seller's
Listing Brokerage. They may also be called Sub-Agents or
Seller's Agents/Brokers but they are not Buyer's Agents unless hey
have signed a contract with the Buyer.
Selling Brokers typically bring ready, willing & able buyers to
purchase your home - but only if you the home seller offer the
customary finder's fee... Real estate is still a commission incentive
based business...
Don't put "By Owner" on your yard signs, brokers don't like it.
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Buyer's Agents work for the home buyer whom they "represent" having
signed an agreement (the Wisconsin form WB-36). Buyers agents are
obligated to protect the home buyer's interests including price &
terms of an offer, so sellers may want to be more cautious when
dealing with a buyer's agent. The buyer is obligated to pay their
buyer agent's fee, but this fee is usually obtained from the listing broker
or home seller directly.
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When the seller does not offer the customary finder's fee: A buyer who
has a Buyer's Agent may request that the seller pay their agent ( so the fee
can be financed into the buyer's total loan to purchase the home instead of
being paid out-of-pocket by the Buyer). This possibility exists even if you
are selling "For Sale By Owner" and you are not on the MLS, so make sure
you consider this when deciding your home's listing price and what to offer
cooperating agents.
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Cooperating Agent Finder's Fee recommendation:
Cooperating MLS brokers need an incentive to sell your home to their buyers.
BuyHomes.com allows 12-month plan sellers to choose a rate as low as 2.0%,
and all our sellers may select as high as 3.0%... they are still saving about half the commission because the
seller is doing most of the the 'listing agent' side of the work.
Based on my research of the surrounding region's MLS properties for
sale and discussions with sales agents in both markets; I recommend
the following:
Madison Metro Area: I recommend you offer at least 3.0%
percent commission.
Milwaukee Metro Area: I recommend you offer at least 2.4%
percent commission.
In a competitive selling market I recommend that you consider a higher
cooperating broker fee than those listed above for your area, perhaps
3% or 4% - and why not since you'd pay more with a Full-Service broker ... If that's too much then consider offering a "bonus" of
$500 to $1000 on top of the customary rate to make the property stand
out from the crowd of customary commissions.
BuyHomes.com may end up finding the buyer and sending them to you; or
you may find the buyer with our help - either way you pay
No Additional Commission closing! Your offering
of a finder's fee (or any bonuses)
does not necessarily mean that you will be required to pay this amount
however the commission payment to an agent
happens when another cooperating MLS member is involved in the transaction in
some way, about 2/3rds of the time.
When you get any accepted offer we need a complete copy of that offer within 7 days
or else you agree to pay a fine of $50. You must also provide a copy of the
closing statement within 7 days of closing. We have never had a
seller pay this past the deadline to date and we are proud of our record ! We need the
closing statement so that we can accurately report your sale to the MLS
in a timely manner otherwise we could be fined.
If you do not have an attorney representing you to assist with the
paperwork: then I strongly advise you get an attorney to help you with
paperwork and negotiation - or else offer a "bonus" as an additional
incentive to any cooperating MLS agent who may feel they are doing
"more work". (WI Law may require an agents who 'delivers' an offer to
also give a general explanation - something an attorney should
typically handle with a limited service broker.)
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Note: BuyHomes.com is a licensed real estate broker in the state of
Wisconsin & a REALTOR®. When you list your home with this
service you are no longer a "For Sale By Owner". Home sellers are reminded
to disclose the listing broker's name 'BuyHomes.com' and your MLS number in
any advertisements, flyers, or yard signs other than those provided by
BuyHomes.com.
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Call Andy at (414) 940-5555 or Sign-Up
to set an appointment |