Perhaps you’ve seen the ads from a real estate company promoting a 1% listing fee. Some would consider this deceptive advertising, since the details are buried in fine print. In Colorado, you’ll pay an additional 2.8% fee to compensate the agent representing the buyer. That alone brings the fee up to 3.8%. Also, the advertised rate requires that you buy your replacement home with the company. It’s all in the fine print.
Would you really want to do business with a company that tricks you into granting an appointment by misrepresenting what they charge to sell your home? We charge a little more, but you get far better marketing and, if we sell it ourselves, you could pay as little at 3.6% and get free moving to your new home. Call Jim Smith at 303-525-1851 for details.
Note: Technically, the commission paid to the buyer’s agent is part of the listing commission even though it is paid by the seller at closing. Therefore advertising a 1% listing fee is in itself a lie. The listing contract would show 3.8%, not 1%. The fine print in the commercial also states that the 1% “listing fee” is increased if no commission is owed to the buyer’s agent. Therefore, 1% is not obtainable under any circumstance, although a listing agreement could be modified by the listing agent since commissions are always negotiable. I’m just referring to their “standard” commission arrangement as they are advertising it.
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