Chattanooga Realtors Launch 4% Commission Program

Using technology to lower the cost of selling homes, Chattanooga-based real estate brokers pass savings on to their clients through their four percent commission program.

“Reducing the commission on single-family homes helps buyers win,” officials said. “Commissions are typically paid by the seller and include fees for the seller’s agent and the buyer’s agent. Reducing business costs, not service costs, allows real estate brokers to pass on the savings on door-to-door sellers.

“We recognize that the process of buying and selling homes has been simplified and the costly infrastructure that was once required to run a successful business has largely disappeared,” says George Patten, owner of Real Estate Brokers.

“We can run a very successful agency with a mobile phone. And since our costs have gone down, we want to pass those savings on to our selling customers. A reduced commission is often the difference between a seller just breaking even or being able to deposit $10,000 in the bank after closing.

The way home buyers buy is also radically different, shifting to online listings and the convenience of home shopping. According to the National Association of Realtors Research Group’s report, Real Estate In A Digital Age, 44% of potential buyers looked at homes online before contacting a realtor, and only 6% scoured neighborhoods for homes.

These trends reduce the need for a large number of expensive directional signs, flyers and direct mail. Likewise, the ability to electronically sign offer and counter-offer documents dramatically reduces the time it takes to coordinate the door-to-door sales process.

Sherrie Shipley listed and sold a lakeside family home with real estate brokers. Along with all the traditional services and marketing, his agent added drone footage to showcase the lakeside property. The reduced commission saved Ms. Shipley more than $17,000.

‘I had previously tried to sell it myself without success,’ Ms Shipley said. “When I heard about the 4% option with real estate brokers, it was a no-brainer. Showing it myself was a headache, and I realized that people really wanted an agent show them the house, not the owner.Our agent was always quick to respond, answered my many questions, and made the process a lot easier for me.

The technology also gives home sellers vast amounts of information before they sell their home.

“When a home seller calls us, they usually already have a good idea of ​​how much to charge for the home,” Patten said. “They can view recent sales from the comfort of their own home and compare their home to their neighbors’ sales. If they need help, we can easily review the data and give them advice, instead of scouring public records. Our expertise comes into play in two essential ways. First, we recommend the best pre-listing upgrades that will make a real difference in the sale of the home, and second, we advise the homeowner on navigating the inspection process and initial repairs. This is essential to get the best price and close the sale quickly.

“Realtors continue to provide the same high level of service,” officials said. “The team manages the process from start to finish – professional photography with 365 degree virtual tours, all online listings including the official MLS roster, social media promotion, advice regarding staging and consultation on the price to list the house The paperwork and the contract The process is handled internally, as is the coordination of the inspection, appraisal and emergency move The only real difference is that they perform all the same functions in a home office, rather than an expensive office complex.

Kristan F. Talley