What is fee-for-service real estate?

At closing, the seller pays the buyer agent’s commission (typically 2.7% of the sales price) plus a $300.00 processing fee to my brokerage.  The processing fee covers my and my broker’s review of all documents, (which must be submitted to me within three business days of the sellers receipt), changing the status of the listing in the MLS and the legal requirement for me to hold the file for six years after the transaction closes.

If I have a buyer for a home listed with me under my flat fee package, I would represent both parties as a dual agent and will take care of all paperwork involved in the transaction. The commission paid to me would be equal to what the seller agreed to pay in the MLS to the selling realtor, (again, 2.7% of the sales price is most common), plus the initial flat fee investment. However, the seller would NOT pay the additional $300.00 processing fee.

RMLS just issued the November publication of the Market Action report.  Inventory levels are still incredibly high in the Metro Portland area.  At November’s rate of sales, the 14,435 active residential listings at month’s end would last about 8.3 months.  This is down slightly from October 2007′s 8.4 months of inventory.  What does this mean for local real estate?  That it’s still a buyer’s market since buyer’s have so many homes to choose from.  If you are selling a home, you need to remain very realistic about your list price.  Homes priced evenly slightly higher than market value are not generating buyer traffic or offers. 

You can lower your list price by reducing the amount of real estate commission you pay out.  Check out my Fee for Service packages on my web site, www.PointClickandPack.com, for more details about how you can save money on commissions and still get optimum exposure for your home on RMLS and the public Internet sites.

I look forward to hearing from you soon and assisting with your sale!

What’s the difference between the recent 60 Minutes media hype about Redfin Real Estate and fee-for-service options in Portland, OR?  In two words, state law. 

Oregon real estate law does not allow Realtors to give buyers and sellers kick-backs or rebates.  Redfin Real Estate, which primarily operates in Washington and California, has built their business model around providing buyers and sellers with cash back rebates at closing.

Oregon Realtors are allowed to discount real estate commissions on the listing side when a seller signs a listing contract.  However, outright discounted commissions to buyers are illegal unless disclosed in writing to the seller and agreed to by all parties.

My fee-for-service packages allow sellers to save money on the listing side of the real estate commission.  You can find full details about all of my packages on my web site, www.PointClickandPack.com.  Click on the Fee for Service link on the Home page. 

I look forward to assisting with your sale!

Sell your house for less with my fee for service packages.  There’s no need to pay a 6% real estate commission on the sale of your Portland, OR house.  My fee for service packages allow sellers to choose the level of real estate service they want and to only pay for the services they need.  With these savings, sellers can either attain a higher profit on their sale or afford to reduce the list price of their home by the amount of real estate commission savings and therefore possibly achieve a faster sale. 

You can see full details of all of my fee for service packages at www.PointClickandPack.com.  Click on the Fee for Service link in the middle of the Home page.  I look forward to assisting with your sale!     

Each time I get a call from a new buyer or seller, the question that inevitably comes up is about the current housing inventory in Portland.  What the caller is really trying to determine is whether we are in a buyer’s market or a seller’s market.

Right now, Portland is experiencing a buyer’s market because the amount of homes available for sale exceeds the number of buyers looking to purchase.  The Market Action report, which is published by RMLS every month, shows that in February 2007, (our most current statistics at this writing), the number of new listings is up 18.9% when compared with the inventory in January-February 2006.  However, the number of closed sales decreased by 7.9%. 

February 2007 housing inventory is 5.2, which means that if no new buyers enter the market and no new sellers put their homes on the market, it will take 5.2 months to completely sell out of all homes available for sale now.   If you compare this inventory to February 2006, when the rate was 2.7, (meaning we would sell out of homes in 2.7 months), it’s easy to see how many more homes are currently for sale versus the number of buyers looking to buy.

So, is it wise for sellers to list their homes for sale now?  Due to outside circumstances such as job transfers, change in family status, or financial issues, many sellers don’t have a choice.  But even in today’s market, if a seller lists their house at or slightly under market value, (within $5,000),  the seller should get an offer on their home.  What sellers should not expect in our current level of market activity is multiple offers within days of listing.

My fee-for-service packages allow sellers to save money on the listing side of real estate commissions.  These savings, if passed along to buyers in the form of a lower sales price on the initial MLS listing, could get sellers a faster sale on their homes.  You can see full details of all of my fee-for-service packages on my web site, www.PointClickandPack.com.  I look forward to working with you towards a successful closing!  

What is fee-for-service real estate?

Fee-for-service packages allow the seller to only pay for the real estate services they need and thus, the seller saves money on the real estate commission paid to the listing agent.  The buyer’s agent must be compensated separately and this commission is indicated in the MLS (multiple listing service).  I offer about 6 different fee-for-service packages and full details of each package can be found on my web site, www.PointClickandPack.com.  Click on the Fee for Service link on the Home page.  My least expensive package is a $550 flat fee MLS listing only.  This package includes an MLS listing with 8 pictures of the house and room measurements along with exposure on all of the following web sites, the public’s version of the MLS, www.RMLS.com, www.Realtor.com, www.houseandhome.msn.com, www.REMAX.com, and my web site, www.PointClickandPack.com.  Sellers also get a RE/MAX yard sign and flyer box. (Add $40.00 for a custom color flyer template).With my flat fee package, the seller is listed as a limited representation agreement in the MLS.  This designation tells other Realtors that the sellers have paid for an MLS listing but will be representing themselves in the negotiation of all offers.