Full-service is a phrase that’s thrown around frequently in many lines of business. It may get you in the door, but what does it mean exactly? What comes with a full-service experience?
In a traditional sense, the full-service real estate experience is an all-inclusive package that comprises of the listing, marketing, negotiation, and legal documentation on the sale of a home. A real estate agent would take care of each of these processes and walk you through any necessary procedures to earn a commission on the sale.
Let’s take these one step further.
Listing your home
Listing a home is a tactful artform, one that requires a surgical attention to detail. In the full-service experience, a great agent will work with you to appropriately price your home according to its market value through consideration of things such as an appraisal and location.
One of the caveats in the science of home listing is overpricing your home. It may not seem important to an untrained eye, however, an overpriced home won’t gain the attention in needs and remain on the market for an extended period of time. Buyers don’t like a listing that’s been on the market for too long, giving others a chance to offer you lower than what your house is truly valued at.
Everything from a perfectly placed for-sale sign to making your living room look like that of a celebrity’s in the listing photos is imperative in the full-service experience. There’s a good chance that a buyer first sees your home via an online listing service, and, on average, online users give about 15 seconds of time to new things when browsing.
That’s an extremely quick amount of time to make a first impression, so great marketing tactics from an agent will let your listing stand out from the sea of others.
Negotiations and legal documents
Similar to the listing process, negotiating is an artform and could easily be the difference between a great and phenomenal deal. As a seller, both you and your agent know the strengths and weaknesses of your home, and the negotiation process is the perfect time to play to your property’s strengths.
This could mean including a buyer’s credit for a new kitchen appliances if you didn’t have time to renovate the kitchen, or avoiding an appliance credit because of the new A/C unit that was installed a few months ago. The possibilities are endless when it comes to negotiating, and an experienced, full-service agent can help you get the best value.
Before you sign your life away, a great agent is also there to help you through all legal documentation that is required to close your listing. When the last signature is made, you should have a great understanding of what was necessary to close your deal.
Now that you understand what full-service entails, the final piece to the puzzle is understanding the difference between a traditional and flat-fee structure in your deal as a seller.
A traditional model involved the listing agent receiving a 3.0% commission on the sale of your home, while a flat-fee model involves nothing more than a flat-fee starting at $3,999 for the entire selling process.
What does this look like numerically?
Your home just sold for $400,000. A traditional model would net a $12,000 fee to the listing agent, while Rezlist’s flat-fee model nets $3,999 on the same property. A total savings of $8,001 on the exact same deal.
So what’s the difference? Well, there isn’t one.
A flat-fee listing retains the full-service experience explained above coupled with a flat listing fee based on the price of your home. Within a flat-fee model, agents are more focused on a seamless, full-service experience, free of any pitfalls such as overpricing your listing for a higher commission. In the end, you save money for things such as the interior of your next home, as a flat-fee listing agent, get to help you make listing your home one of the best transactions of your life.
Are you interested in the full-service experience at a flat-fee? We’d love to talk more about the process.