In the past, we’ve already talked about discount Realtors® and have also differentiated between what a discount Realtor® offers compared to a traditional Realtor®. We have discussed real estate commissions and how discount realtors® offer a different structure than expensive traditional Realtors®. In addition, we have reviewed the advantage of MLS®, and the method for how to get an MLS® listing is included with the sale of your home, even if you are employing the For Sale By Owner method of selling a home.
Now that we’ve covered the basics, let’s look at specific pricing and savings of For Sale By Owner (FSBO) and discount Realtor® real estate methods.
First, we’ll take a look at the price structure for a discount Realtor®. Using the pricing calculator on the One Flat Fee main website page, we used a test price of a $500,000 “sold price” to calculate how much a home seller would be paying to a traditional agent’s commission, versus paying for the services with a discount Realtor®, in this case, One Flat Fee.
As you can see from the calculation below, when selling a $500,000 home (a very good price for a house within the lower mainland), a traditional real estate agent would receive $9,180 from their commission, while a discount Realtor® would take just over HALF that amount, at $4,999.99. When you also take the buyer’s Realtor® into consideration along with the GST, your savings is a whopping $4389.01: