Hourly Real Estate Offers a More Equitable Option to Percentage Based Commissions
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by: sarawilliams
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Imagine the possibilities of hourly real estate. Instead of paying the standard percentage based commission at the conclusion of a real estate transaction, how about entering into an arrangment whereby you pay only for the services you actually use, and on an hourly basis. Hourly real estate is the latest innovation sweeping the real estate industry.
Sophisticated consumers may actually prefer to search online real estate listings for potential homes. Why pay someone else to do a job that you can do yourself. What these consumers do need is access to a real estate professional who can assist them with contract negotiations and contingency fulfillment and with any other situation during the course of the transaction in which their interests need representation. What these consumers would like is an in kind recognition of their efforts in the form of a discount on real estate services.
Certain brokerage services have recently begun offering time accountable hourly real estate affiliate programs to smaller community banks and credit unions as comarketing partnerships. The lending institutions choose the affiliate program that blends in best with their products and bundle them together into one neat package.
Do not concern yourself with the level of service you will receive by choosing the hourly real estate option. In fact, some real estate firms offer customers the option to choose between full service, full commission or hourly real estate services to be provided by the same brokers regardless of level of representation. Either way, the client will not pay a sum greater than three percent of the total transaction.
With hourly real estate services, the broker charges an hourly rate multiplied by the actual time spent on your transaction, much as a lawyer or accountant would do. You pay only for actual services received, which could save you thousands of dollars at closing. Consumers who choose hourly real estate services by and large come away from their transactions with the feeling that they have received full value for time spent. Isnt this much better than wondering what your broker did for all that commission. Consumers also find that not every service provided by their brokers firm is of the same level as professional real estate representation. Hourly real estate allows for time billing at different rates depending on the level of service provided rather than charging you one all encompassing commission rate. Consumers are billed at different rates for administrative, management, inspection and professional brokerage services. Now, doesnt that make a lot more sense. See also Real estate commission discount - Fee for service real estate - Hourly real estate - Discount real estate brokerage - Real estate commission -
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