Buying and Selling Luxury Homes in the Internet Age

Nearly 90% of home buyers today use the internet to search for their dream home. While seller's agent commissions still exist, many sellers - even those selling luxury homes - are using fixed fee brokers, knowing they can sell their house quickly while saving on commissions. No longer are fixed fee brokers excluded from the valuable Multiple Listing Service databases, and today's most successful real estate agents work with this reality instead of trying to go back to the old way of doing things.
Using the Power of the Web
Real estate agents use the web to inform buyers about great properties for sale, so they know well just how powerful a marketing medium the internet is. Sellers today are taking the initiative, listing their properties, creating websites, and putting together online brochures showing buyers all the great features of their property.

New Services Offered by Brokers
Many brokers today offer "à la carte" choices like flat fee listings in Multiple Listing Service databases and advertising packages that take advantage of online and traditional media. Brokers today know that bringing prospective buyers to properties sold by owners and through fixed fee brokerages are great bets for earning commissions. This is terrific news for sellers as well.

How These Services Help Buyers
Today's real estate broker must be flexible and willing to show buyers properties that are not listed with traditional sellers' agents. Buyers benefit when they know that only a 3% buyer's agent commission is at stake (rather than the traditional 6% commission that was traditionally split between the buyer's agent and the seller's agent). Negotiations can be more straightforward, and smaller commissions generally mean buyers get a better price.

How These Services Help Sellers
Avoiding a selling agent commission allows sellers to offer a better price than they would otherwise. Sellers are able to put their property listing in front of more potential buyers than ever before, and they can often do it by paying a flat fee rather than a percentage of the sale price. That means a faster sale and simpler negotiations with buyers.