The real estate industry in Texas is being completely disrupted with the emergence of “flat-fee real estate”. The model we’re all used to of 6% commision (3% to the Buyer’s agent and 3% to the Seller’s agent) has been exposed as outdated and unjustified. A new way to do real estate is taking over and the traditional commission structure is being traded in for a flat-fee model.
Flat-fee companies like Door are suggesting a different approach that the old-fashioned one, a flat-fee of $5,000 paid at close. That means on a $400,000 house, you would pay only $5,000 instead of the 3% ($12,000) you would have to pay an old-fashioned realtor. At this point you’re probably asking yourself, what’s the catch? Good news, there is none, Door is simply responding to the changing times and advanced technology available.
9 out of 10 Buyers now find their homes online through sites like Zillow, Trulia or Redfin. Finding homes for Buyers is one of the biggest responsibilities for realtors and that need just doesn’t exist anymore. The automation of listings has made it easy for consumers to search for homes with the exact requirements and features they are looking for. When you end up doing most of the work for yourself, why should you have to pay so much of your money to a real estate agent?
The Sell side process of real estate is a bit more complicated. However, paperless platforms such as Docusign have made the job of Seller’s agents a lot easier. They no longer have to go through the hassle of ensuring all documents are signed and understood by their clients and others. While the expertise of a licensed real estate agent is often needed, paying a 3% commission is just too much. Texas residents can especially relate to this claim when their house sells within days or even minutes on market. Door has had clients whose homes sell within hours and they then have to pay their realtor over $10,000 for just a day’s work!
Flat-fee real estate, like Door, is the solution. They offer superior marketing, technology, efficiency and expertise for just $5,000 paid at close. At this point we have to ask ourselves, why wouldn’t you choose the better financial option of a flat-fee realtor if you’re getting preferable services?
Have more questions about flat-fee real estate taking over Texas or how Door can save you money? Call a Door agent today!
Find out more about the benefits of flat-fee real estate!