How is a Flat Fee Listing different from a Traditional Listing?
A “Traditional Listing” is where you typically pay a 6% commission of the sales price of the house at closing. When your house sells, the agent who listed your house receives a 3% commission and agent who found the buyer receives the other 3% commission. What is different with a “flat fee” listing is there is no 3% listing commission, rather a low flat fee paid up front. You would however pay a 3% buyer’s commission if an agent found the buyer. The other huge difference with “flat fee” is you have the opportunity to sell your house yourself and save the entire 6%. Your cost is only the low flat fee.
