TrueParity has architected a platform to be able to handle multiple commission structures so homeowners and agents can get the best terms for their home. Typically, real estate commission is 5%–6% of the home's sale price split 50/50 between the buyer agent and the listing agent
The majority of proposals from you'll receive from agents will have a 2.5% Listing Agent Commission and 2.5% Buying Agent Commission. TrueParity has introduced a third element in the commission structure which is the cash bonus. The cash bonus is money you keep no matter what.
Some home owners will only want a percentage some will only want to sell at a flat rate some will want to see all the options. below are all the possible combinations commission terms for a proposal
Real Estate Agents can submit a proposal with Percentage % Commission OR Flat Rate $ Commission
Percent is generally 1% - 3.5% of the final sell price
Flat Rate can range from $3,000 to +$2,000,000 per listing
In different regions buyers agent may range from 1% - 3.5%.
Some homeowners will not want to offer buyer agent commission so we’ve allow them to select to list without buyers agent commission. And we've allowed agents to submit proposals with 0% buyers agent commission. This saves you from the standard 2.5% of the final sale price, but puts the listing at a major disadvantage because it doesn't attract buyers agents.
Something completely unique to TrueParity is the cash bonus. In every real estate transaction there are two assets 1) the property and 2) the listing agreement. A cash bonus allows a homeowner to auction the right to sell their listing and treat their home listing as a commodity.
Real estate agents can add a cash bonus, but a cash bonus is completely optional
The Cash Bonus is an amount that the homeowner gets to keep no matter, if the house sells or not.
Agents are putting skin in the game along with their listing proposal to ensure homeowners they are confident they sell the property quickly at a great price.
The cash bonus amount generally start at 0.25% of property list price.
example: $2,500 Cash Bonus for a $1.0M Property is likely to win the listing
Because we have higher quality listings the majority of cash bonus on TrueParity range from $10,000 to +$100,000
TrueParity offers a variety of commission structures to be able to support every type of seller. Whether you want a standard commission model, flat rate, cash bonus model or any combination of these TrueParity can help you find the right terms to sell your house.
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