Soft Real Estate Market Drives Growth at Indiana and Illinois Flat Fee Brokerage
Indianapolis, IN (PRWEB) October 19, 2007 -- The weak market for residential real estate has prompted many sellers to question the high commission rates required by most traditional real estate brokers. Downward pressure on real estate prices makes the customary 6% to 7% commission no longer feasible for many sellers.
"In a market with rapidly increasing real estate prices, it sometimes seems that giving away 6% or 7% of the price of a home at closing is not important," said Brian Waters, President of Mentor Listing Realty (www.MentorListing.com). "Now a 6% commission rate looms very large when real estate values are flat, or even declining. The money sellers save with our service can mean the difference between standing up from the closing table with a check, or walking away with nothing."
Mentor Listing Realty is taking advantage of this growing resistance to high real estate commissions. Its market share continues to grow, fueled by increasing consumer reluctance to continue to pay inflated real estate commission rates.
For most sellers, the largest single cost at closing is the real estate commission, and the real estate industry has worked hard to make the commission rate sacrosanct. Mentor Listing Realty offers sellers an alterative to the traditional commission structure.
"Our service lets property owners list their homes on the REALTOR® owned Multiple Listing Service (MLS) for a single, flat fee of $399," said Mr. Waters. "Traditional brokers charge up to 3½% of the selling price of the home for this service. On a $500,000 home, Mentor Listing Realty can save a homeowner over $15,000 when they sell their home."
With Mentor Listing Realty, the home seller only pays a commission to the broker representing the buyer. "Since the buyer's broker gets his or her normal commission, we have not seen any resistance in the market place to our concept," said Mr. Waters. "The time to sell our listings is virtually identical to the time to sell traditional, full commission, listings."
To receive further information, call Mentor Listing Realty at (866) 269-1006 or visit their web site at http://www.MentorListing.com
Contact: Brian Waters
Mentor Listing Realty, Inc.
(866) 269-1006, extension 101
Fax: (219) 861-1049
Mentor Listing Realty (http://www.MentorListing.com)
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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