You've got questions. We've got answers.
When you work with Door as a Buyer, we give you back all the commission we receive above our $5,000 flat rate. For example, if you buy a $500,000 house with us, Door will likely be paid 3%, i.e. $15,000. In this example, you would receive $10,000 back at close.
As a Buyer, we: help you with financing, search for homes, show you homes, handle your offers, manage the paperwork, see the transaction through to title, and negotiate to get you the best price.
As a Seller, we: use our pricing process to expertly (and correctly) price your home, stage your home, take professional photos, craft a 3D model, market the home via the MLS and more than 90 websites (including Zillow/Trulia/Realtor.com), manage showings and offers, negotiate on your behalf, and see the transaction through to title.
Whether a Buyer or a Seller, for any home above $168,000, our flat fee of $5,000 saves you money.
6% has become the customary commission in the United States. Only two highly developed countries in the world have such a high commission structure for selling homes (the other being Canada). No one is really sure how or why the 6% commission came about. In Europe, for instance, total commission on a home sale tends to be below 2%. For more, read “An Extra Cost in American Home Sales” from The New York Times.
At Door, we advise against “hip pocket” sales for our sellers. When a real estate agent represents you, the agent owes you a fiduciary duty. This means that the agent must put your interests (even financial interests) above their own.
We think “hip pocket” listings are unethical because they inherently limit the market exposure of your home. If, for instance, your home in Dallas is sold via a “hip pocket” transaction, a potential buyer elsewhere who would have paid $25,000 more will never have the chance to see your home. Thus, your interests as a Seller are not held above those of the agent (who wants to protect the 6% commission).