Real Estate Agency now consists of Buyer’s Agency and Listing Agents, but it was not always that way. In fact as recent as the early 1990’s there wasn’t a Buyer’s Agency. A couple of lawsuits right now claiming that the National Association of REALTORS (NAR) along with the large real estate companies and MLS rules are inflating the commission cost for sellers and they claim that buyers should compensate their own agent (Buyer’s Agent) if they choose to have an agent. This topic is discussed more in our article on LinkedIn under The Franklin TN Real Estate Breakdown, so go over and check it out.
If you are considering selling in and around Franklin, TN then you should know that Gray Fox Realty is doing our part to reduce sellers commission fees when selling but the approach isn’t to reduce the buyer’s agent compensation at all as that attracts the best buyers when a skilled buyer’s agent is involved the deal closes smoother and they can counsel the buyer on the best offer. So Gray Fox Realty created a fee for service listing model to sell homes starting at $995 plus 3% compensation for a buyer’s agent and a $395 administrative fee. This Gray Fox plan on average saves a seller $15,000 in commission compared to a 6% listing agreement.
If you want to learn more about Gray Fox Realty take a look at the rest of the website and watch our 1 minute explainer video.
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