Deciding when to list your home for sale is no easy decision. For financial, and sentimental reasons, it can be tough to say goodbye to your home. But, you’ve decided the timing is right and you’re ready to sell. What’s next?
You Have Several Options When Selling Your Home
Home sellers have more options than ever from ‘For Sale By Owner’, to full service methods such as using a traditional 3 percent commission real estate broker, or reaping the financial benefits of a 1% commission realtor. Most sellers typically have two goals in mind; keep as much home equity as possible and sell quickly, as no one wants to buy a stale listing. As a seller, it’s important you know all the options when it comes to listing your home so you can maximize both of these goals.
Selling your own home without a real estate agent
The For Sale By Owner route is certainly a possibility and a small percentage of homeowners decide to take on the role of being their own real estate agent. Typically, a seller would choose the FSBO route to save on real estate agent commission fees however they give up a full service expert to guide them through the sales process. If you have the time and know-how to deal with the sales process, are comfortable with real estate jargon, and have the courage to take on the legal aspects necessary to sell your home – this may be worth considering. Keep in mind that even if you decide to sell yourself, you are still expected to offer buyers agents a commission. As with most things, it may pay to hire a top professional! The real estate business isn’t easy and any little mistake can expect to cost you a lot of money and legal headache but not to worry, there are many listing agents to choose from if you should decide to work with a local agent!
Working with a 3 percent commission realtor
This is likely the option you’re most familiar with. But did you know using a traditional real estate agent typically comes with a 6% commission rate when you sell your home? Of which, 3% will be offered to buyers agents, and 3% would go to the listing agent commission. In Nashville, the typical sales price is $344,000, which means the homeowner would expect to pay $20,640 in real estate commissions when they choose this path.
Additionally, a 3 percent commission real estate agent tries to juggle so many tasks, many of which are unrelated to the listing. This often leads to poor service stemming from a lack of communication and a less-than-favorable outcome for the seller. This is because traditional real estate agents are independent contractors and they work for local independently owned franchises. All of the marketing, bookkeeping, social media, prospecting, and customer service falls solely on a traditional real estate agent’s shoulders. This is certainly a lot of work and can pull these agents away from their customers as the other core functions of running a business cannot be neglected. For that reason, not only is a traditional 3 percent rate expensive, the service sellers receive can be subpar and it can take longer for the home to sell.
Using a 1 percent commission realtor
You probably think about ways to save money or get a discount in other areas of your life, why not when it comes time to sell your home? Using a top 1% commission realtor will certainly help keep more cash in your pocket when the deal is over, but can you expect these discount realtors to provide a full service? A 1% commission realtor, or 1 percent realtor, is when the real estate agent agrees to list your house for a discounted 1% commission fee instead of the national average 3% commission that listing agents typically charge.
Using the same Nashville example as above, with a one percent listing fee the homeowner keeps an additional $6,880 when the sale closes (3% is paid to the buyer’s agent, 1% is paid to the listing agent).
Felix Homes has a 1 percent commission fee and serves the greater Nashville area but, helping clients save isn’t the only thing we like to do.
Felix Homes is Nashville’s 1% Commission Realtor
Felix Homes is a Nashville based 1 percent commission realty company that entered the market in 2018. Our company was founded with two goals in mind; create the best, full service real estate experience for our clients while simultaneously providing the most financially responsible way to sell a home. After all, parting with your home is no easy choice – we want to be sure our clients make as much money as possible. Commission rates have gotten out of hand and using a traditional 3 percent commission realtor can wipe this profit away!
Everything about Felix Homes is focused on providing an efficient, full service client experience. Our 1 percent commission business model is fundamentally different from a traditional real estate company most sellers are accustom to. To start, we do not hire independent contractors. Everyone at our company is an employee. Each employee has their own skill that they specialize in, allowing them to focus on the services they do best.
Our staff is made up of; experienced real estate agents, photographers, marketers, bookkeepers, and the best technology team. Instead of being a jack of all trades, we are the greater sum of specialized masters, resulting in our clients getting the most bang for their buck and superior customer service. Our agents have one focus – you the customer and we do it all for just one percent.
The Benefits of Using Our 1 Percent Realtors in Nashville
Our clients receive numerous benefits when they partner with our 1 percent realty firm. Below are the most commonly talked about.
An efficient and hassle free selling process
As mentioned, we only charge a 1% commission fee, which means we need to sell 3 times as many homes just to make up our discount compared a traditional 3 percent commission realtor. What does this mean? Our agents simply sell more homes. Our role based team allows our real estate agents to focus on selling homes in a more efficient manner. In fact, our realtors transact 5 times more often than a traditional agent. Our experience allows us to cut through the noise to get offers more quickly, all while making fewer mistakes than a traditional realtor would.
A fair and financially responsible discount fee structure
If you decide to list with our 1% listing service, you’ll save 2% on the realtor commission fees. Since 2018, our clients have saved $8,100 in fees on our typical sale. Not to mention, if we happen to find the buyer and facilitate the entire transaction, we only charge a 2.5 percent agent commission rate in total! Think about that, less than half of what 6% listing agents charge for a superior full service experience. What will you do with all the extra money this can save you!
Always available via better communication
Since our agents’ sole focus is the customer relationship, the customer has complete access to their dedicated agent day or night. Your call will never be ignored so the agent can create a new social media post, record expenses, or troubleshoot a technology problem. Our support team will handle that, while your dedicated real estate agent works to get an offer on your home!
Nashville based and independently owned
We’re local and we are not governed by a larger corporation or franchise. We were the first local company to offer a 1% commission plus we specialize in listing homes in the greater Nashville area and know these neighborhoods inside and out. Our agents understand why Nashville is a great place to live and most importantly, we can place a value on what makes each neighborhood unique.
Great reviews from happy customers
If there’s one thing we’re proud of, it’s our stellar customer reviews! As a young company, we rely on providing a great home buying and home selling experience. After all, word of mouth, our reputation, and customer reviews are the lifeline of our business. It’s our goal to provide you with an outstanding full service experience, no matter the size of the transaction. As a result, most of our business is driven through word of mouth, and we couldn’t be more thankful for that! Once you use Felix Homes, we’re confident you will not only tell your family and friends of the great experience you had, but you’ll never be able to pay 3% in realtor fees again.
Our Bullet Proof Process for Selling a Home
First and foremost, we encourage you to make some easy and inexpensive home repairs. These repairs can be completed over a few weekends and will allow us to get top dollar once the listing is active. Don’t worry if you’re not handy, these improvements just require a little patience, but can help provide tremendous upside. If you’re not sure what repairs are worth your effort, ask us and we’ll be happy to help! We’ll provide you with expert advice, and keep you informed about what trends buyers are currently looking for in the Nashville area!
Once those repairs are taken care of, the next step is to determine exactly how much your property is worth. Many sellers check online valuation tools. However, these tools can only serve as a general estimate as they do a poor job of accounting for current market trends and buyer demand. At Felix Homes, we will not only use our online tools to get a general idea of your home’s value, but one of our top agents will also come to your house and provide an in-person valuation. This in-person approach is proven to be the best way to determine the value, and will help us get the price correct right from the beginning. Once the market analysis is complete, we’ll give you an estimate of how long it will take to receive an offer from that lucky buyer.
It’s now time to market your home to potential buyers, and that starts with scheduling listing photos with one of our professional photographers. Professional photos are one of the best ways to help sell quickly. At Felix Homes, our team of professional photographers know how to get the most flattering shots of your home’s interior and exterior. We leverage the best technology, and we’ll also capture aerial views to show off your beautiful property and neighborhood. Our goal is to provide clear, detailed, and beautiful photos that will impress buyers and force them to schedule a showing.
We’re able to get these photos online, and your house officially for sale within 48 hours of the photoshoot. This is now where our marketing muscle begins to shine. Our marketing experts will post your home on the MLS, but it doesn’t stop there. We’ll craft a custom social media campaign to market your home to buyers on Facebook and Instagram. In addition to marketing your home online, our realtors will provide you with a beautiful yard sign and will be happy to host open houses if you so choose.
Once the offers start rolling in, your dedicated agent will explain each one in great detail. We’ll guide you through the pros and cons of each offer, and explain any questions you may have about the closing process. While the price is an important factor, there are other factors worth noting. For instance; buyer’s financing, contingencies, and closing costs are all variables to consider. These may sound foreign, that’s okay. We’ll answer your questions at any time of the day. We’re not only selling homes, we’re educating our clients each step of the way.
After an offer has been officially accepted, we now enter the closing period. This period typically takes about 30 days. During this time, the buyer will pay for an inspection and a home appraisal. Both parties will finalize the remaining terms of the agreement. Again, there is no need to worry. Just because you’ve accepted an offer doesn’t mean your agent’s job is complete. Your Felix agent will be by your side walking you through each step of the process up to closing day.
Do Discount Realtors Under Price and Sell for a Lower Amount?
Like many things in life, the saying “you get what you pay for” holds weight and can prove true. However, just because a realtor is willing to offer a discounted real estate commission doesn’t mean you’re getting the short end of the stick! That said, it is important to look under the hood and get the full picture.
On average, our agents at Felix Homes will sell your home within 33 days! The Nashville average is currently 54 days. Our success in selling homes more quickly and for a higher price is attributed to our sophisticated marketing approach. Instead of just listing on the MLS like so many 3% real estate agents do, we run targeted marketing campaigns on social media, putting your house in front of the right people!
Additionally, we help our clients get the highest sales price. In the past twelve months, our final sales price comes in at 100.04% of the original listing price, meaning if we valued your home at $300,000, we tend to get $300,120 for it. This is far superior than the Nashville average, which has a sale to list price of just 98.39%. Unfortunately, many 3 percent real estate agents who have less experience and charge higher commission fees tend to under or over price homes which can have a lasting impact on your net proceeds. If a home is underpriced, you risk leaving tens of thousands of dollars on the table. Alternatively, an overpriced home will sit on the market for months on end with potential home buyers asking what is wrong with your listing.
Grab Coffee with one of our Local Nashville Agents
If you live in the Nashville area and you’re looking to sell your home with a top realtor, you’ll sell quicker, and keep more profit, when you choose to list your home with our 1 percent commission model.
We understand buying or selling your home can be stressful. Afterall, this is one of life’s biggest decisions. We’re here to support you every step of the way and alleviate that stress.
If you have any questions about using a 1% commission realtor, or would like to pick our brain on the Nashville real estate market, let’s grab a coffee! We’ll be happy to answer your questions and provide assistance anyway possible.