Flat Rate Realtor - Dallas

9 Replies

Does anyone have any experience with a flat rate real estate service?  I've gone through all the real estate classes but have been hesitant about getting my license for a number of reasons. However I've seen some interviews with people who've used a flat rate brokerage and It seems like it would be worth taking a look into.  Does anyone know of a reputable flat rate brokerage in Dallas?  Any experience using one?  

@Jason Griffith - Do you plan to be an active RE agent for buying/selling for ur clients or part-time just for your investments? Do you need leads or have a good sphere of influence?

I would recommend to go with national brokerages if you are looking for training and leads in your first year. You will have monthly overhead on desk fees and your commission splits can be 50-50 to 70-30 with big brokerages. Once you are comfortable with a few transactions, you can move to a flat rate brokerage. With Flat rate brokerage, don't expect to get leads or much training. The best thing is that there is no monthly overhead and you pay a fixed fee per transaction. As the saying goes u get what u pay for :)

PM or call me and I can walk you thru all these options as I went thru the same thing few years back. Good luck !!!

Originally posted by @Vic Reddy:

@Jason Griffith - Do you plan to be an active RE agent for buying/selling for ur clients or part-time just for your investments? Do you need leads or have a good sphere of influence?

Thanks for the reply. After re-reading my original post I realize it sounds confusing.  I mentioned my RE classes just to reference that I'm very familiar with the sales/buying process.  Why I'm asking is because I'm about to put a property on the market and was curious if any investors use a good flat rate realtor service in the area and what their experiences have been???  Thanks for any direction you can give.

@Jason Griffith Where is your property located? You may be able to sell it without even listing. 

I have a full time corporate job as a Product Manager for an eCommerce company and got my license to help with investing on the side. I think it's good that you are working on yours - it's been helpful for me!  

Jason, we just listed our rehab with a company called Listing Results. It was the best value ($500) and they have pretty good customer service. My husband has his license but it costs too much for him to list with his own brokerage :/.

Let me ask you a question (that no Seller ever thinks about)..... If the Realtor you are interviewing to represent you in a transaction, can't even properly negotiate with you for their worth in commission, then how in the world would you expect them to negotiate on your behalf??!

If you want a nickel's worth of free advice..... (lol) 

Seek a Realtor (not just an agent or listing service) who you will be loyal to (volume of acquisition/sale) that will offer a discount or value-add in exchange for volume.  That's a win-win that will make sense to any qualified Realtor.  Equally, it will motivate them to qualify the deals they send you, work fiercely to negotate on your behalf, and market your properties for sale properly.

As an example; for my investors, I handle all of their lease ups for newly acquired properties that we close on that were vacant and/or needing to be raised in rents.  This way, they have a stable start to being a landlord.  If they choose to hire a PM after that, they can choose to do that, but I help them get to a 100% occupied status.

It helps if they have their CNE as well (Certified Negotiations Expert designation).  This means they have completed training for negotiating.

@Cara Lonsdale - I do agree with u when the Seller is looking for full-service  agent on the listing side. You do provide value add to your investors and deserve full commission.

On the flip side, if an investor/seller is only looking for listing in MLS and they want to handle comps, pricing, negotiation on price, repairs, vet the lender, co-ordinate with Title etc, there are several flat fee listing services in Dallas & else where. Flat fee brokers/agents provide limited service with only listing in MLS and Seller is responsible for rest of the sale transaction. Its very basic service and Seller get what they pay for :)

If the Seller lists at market price and has reasonable negotiation skills, flat fee service may work well.

@Jason Griffith - Google Creekview Realty -  flat fee broker and they charge $499 per listing. Good luck !!!

Originally posted by @Stephanie King :

Jason, we just listed our rehab with a company called Listing Results. It was the best value ($500) and they have pretty good customer service. My husband has his license but it costs too much for him to list with his own brokerage :/.

 You probably want to check 2 things...does your husbands brokerage agreement allow that, and does his e&o coverage allow that. My guess is no on both.

Originally posted by @Vic Reddy :

@Cara Lonsdale - I do agree with u when the Seller is looking for full-service  agent on the listing side. You do provide value add to your investors and deserve full commission.

On the flip side, if an investor/seller is only looking for listing in MLS and they want to handle comps, pricing, negotiation on price, repairs, vet the lender, co-ordinate with Title etc, there are several flat fee listing services in Dallas & else where. Flat fee brokers/agents provide limited service with only listing in MLS and Seller is responsible for rest of the sale transaction. Its very basic service and Seller get what they pay for :)

If the Seller lists at market price and has reasonable negotiation skills, flat fee service may work well.

@Jason Griffith - Google Creekview Realty -  flat fee broker and they charge $499 per listing. Good luck !!!

 Oh I am quite familiar with listing brokerages.  They have come and gone and come back again in the 20+ years that I have been licensed.  Most of them go out of a business after a short time.  Then another one pops up.

With all the work you just listed, it seems YOU are earning the commission.  Isn't that what it really comes down to?  If you are willing to chase your tail around doing all of the tasks you mentioned, you DESERVE the savings in commission because you've earned it yourself.  However, for investors that are too busy to do all of that, a good Realtor can be a great partner in marketing your properties and managing the transaction from start to finish.

Thanks everyone for the responses.  I figured I'd see at least one REALTOR® on here explaining the benefits of having an experienced REALTOR® working for me.  If I was buying a house in this market I would completely agree with you.  However since my house is in Richardson (in one of the more coveted neighborhoods) running an average of 21-26 DOM, I just can't justify letting go of 8-9k in commissions to a listing agent.  That is not to diminish what you bring to the table @Cara Lonsdale .  If I find a buyers agent that brings the value you do to the table I would sign the buyer's rep in a heartbeat.  

That being said.  Thank you @Vic Reddy , @Stephanie King for the suggestions.  I'll interview them to see what they offer.  If anyone else has additional suggestions, please feel free to add to the conversation. 

Thanks again for all of your help. I know your time is valuable.  

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