4 years ago

Save 6% When Selling in NYC: https://www.hauseit.com/agent-assisted-fsbo/
List with a Full Service Agent for 1%: https://www.hauseit.com/agent-managed-listing/

At Hauseit, we offer two different services for listing your home. One of them is an Assisted FSBO listing service where you do it yourself, the other is a 1% for Full Service listing option where one of our partner brokers takes care of the entire listing process for you so you can sit back for only a 1% listing fee. We’ll demystify this topic and explain how both listing options work in the following video. For those of you who aren't familiar my name is Chris at Hauseit. Hauseit is the largest For Sale by Owner and Buyer Commission Rebate company in New York City. We were founded in 2014 right here in the city and check us out at http://www.hauseit.com if you ever have any questions about buying and selling real estate in New York City and how you can save money on closing costs and broker commissions.

Our Full Service for 1% listing option is a fantastic service for sellers who are too busy to handle the sale themselves perhaps because they have a job that they must work during the day or other responsibilities. In the full-service listing option one of our partner brokers will handle all aspects of your sale this includes taking care of the profession of photography and the floor plan drawing with our photography team, listing the property on the local MLS which is the RLS in New York City and all third party websites that are relevant such as StreetEasy, Zillow, Trulia, realtor.com, New York Times and other associated sites.

It also includes taking care of all private showings, open houses, any scheduling negotiation and coordination with buyers and buyers brokers, working with the managing agent and the board to help process the purchase application with the buyer or the buyer's broker and helping guide the buyer through the co-op or an interview, if there is one. In the 1% Full Service listing option, you would have one point-person throughout the entire process who will handle everything for you and give you regular updates on how your sale process is going. Essentially, this point person will handle all aspects of the sale just like a traditional listing but for a fraction of the commission.

So how does the commission structure work in a full-service listing? Well the listing brokerage would take 1% in commission and we would still want to offer something market rate to buy side agents. For example, 2.5% or 3% in New York City. This commission rate will vary by the region that you're listing your property in but that's take New York City as an example where 2.5% is generally the minimum that you should or that we recommend offering in order to not get complaints from buyer's agents which we have seen in practice. Of course, three percent is more common in many parts of the city especially in Manhattan but you can certainly get away with two and a half percent and keep in mind this is because we are, even though we are willing to take a haircut on Commission we still want to make sure that you get the best possible outcome for your listing and get proper exposure to all buyer's agents.

Remember that there are fifty thousand licensed real estate agents in the New York City metro area alone who represent 90% of all buyers. That's right, 90% of all transactions are done between a buyer's agent and a seller's agent in New York City. So, as a result we certainly want you to get full exposure which is why we recommend offering something competitive that despite taking a haircut on our side, on the listing brokerage side.

So, again it would be 1% to the listing brokerage plus 2.5% let's say, to a buyer's agent so your total cost would be 3.5% in that scenario. However, if the listing broker found a direct buyer then the listing broker would waive the one percent listing fee and only take the buyer agent fee of 2.5% in this example. Keep in mind in that situation the listing broker would represent both sides or at least assist both sides if the listing agent remains a seller's broker. The listing agent would help guide the buyer through the purchase application and all aspects of the sale. Again, there would be plenty of work involved and keep in mind that a buyer is worth 2.5% or 3% on any other listing in the city. So, it wouldn't make sense for a partner brokerage of ours who works with buyers and sellers on a regular basis to have a disincentive to show their own listing.

NYC Seller Closing Cost Calculator: https://www.hauseit.com/closing-cost-estimator-for-seller-nyc/
Save 6% When Selling in NYC: https://www.hauseit.com/agent-assisted-fsbo/
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Hauseit LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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