Newsflash: Thinking of Starting a 1% Listing Agency

I have been chatting lately about being part of a new brokerage. This brokerage would be ran differently from the larger agencies (Century 21, RE/MAX, etc.) in that it seeks to work with only investors and luxury homes (200k+).The listing fee would be different, as we will be advertising only a 1% listing agent fee (compared to 3% a typical listing agent offers) + a $200 flat fee to pay for an in-house professional photographer. Do you think this seems like a good idea? If so, do you have any suggestions on what to look out for?It would save investors thousands of dollars per transaction, and help build long-term relationships with clients. This allows relies on paying less for advertising (at least in the long run), which many real estate agents spend a large portion of their income on.P.S. – The buyer’s agent will still get their commission (2% – 3%). The home seller would be listing their home for 2% less on average.

Read more at https://www.reddit.com/r/RealEstate/comments/6j3oi0/thinking_of_starting_a_1_listing_agency/?utm_source=ifttt

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