Is J.E. GROUP PROPERTIES a discount brokerage?
- No. We are a full service Real Estate Brokerage company. We just charge what we believe to be a fair price for the services needed to sell your home.
Why are you charging so much less than other companies?
- Because it’s what we think is fair. The real estate industry has been following the same general pricing since 1950. It’s time things changed. The typical 6% commission started over 65 years ago and it has remained the same since. However, the buyer’s ability to search and locate properties has become much easier and more open with the internet. In fact, over 90% of home buyers find their new homes online. Technology has evolved so we can lower our expenses and save YOU money!
Some Realtors say that if you charge a flat fee, you don’t care what you sell the house for. There’s no incentive. Is that true?
- Our sole focus is on selling homes, not the commission. Remember, the sale price of your home ALWAYS lies with you, the owner of the home. You decide what to accept. A real estate agent that charges a high percentage commission focuses too much on that commission. We don’t. We want you to be happy with the end result so you recommend us to your friends and family!
When do I pay the fees?
- Just like most traditional brokerages, you won’t pay any fees until your home is sold.
Can my agent represent the buyer in a transaction?.
- Your listing agent will only represent you during the sale of your home. It is possible another agent from our company will represent the buyer. Your agent may act as a “transaction facilitator” for the buyer while still representing you, the seller. However, should this occur, your agent still has a fiduciary duty to you and will continue to represent your interests first.
Other agents say, “You get what you pay for. Watch out.” Is that true?
- We say… Yes! Here’s what you get from us: Great service, answers to your questions, internet, email and social media marketing along with professional advice. Be sure to ask these questions to that other agent: If the typical listing agent gets a 3% commission, on a $200,000 home it would be $6,000. Why do they get $9,000 on a $300,000 home? Did they do 50% more work for the home that is priced higher? Or better yet, what about a $600,000 home’s $18,000 commission? Did they do three times as much work?
- There is a certain amount of work that needs to be done to get a home listed on the RI MLS, which makes it available to all the real estate agents in Rhode Island. But there is not THAT much more work to do with differently priced homes. There is additional marketing we do for you to help get your home sold – but it’s all included in the flat fee. We realized there is an appropriate amount the home seller should pay for help in selling a home. We are charging what we believe to be a fair price.
- For homes priced $401,000 to $999,999, we charge a $4995 Flat Fee. Homes priced $1 million and above, we only charge a 1% commission. We do this because as home prices increase, they can possibly remain on the market a little longer, but not too much. We only charge a little more for this.
Why is there a “Buyer’s Agent Incentive”?
- Part of the old system still works. Buyers’ agents will spend considerable time working with their clients to find them the perfect home. They search through listings and drive around looking at different properties. Sometimes they are successful, sometimes they are not. The commission incentive is to entice the buyers’ agents to look at your home and show it to their clients. It helps them cover their expenses and earn a living. It is always up to the seller as to what they want to offer as the incentive. We typically recommend a 2-3% commission. However, this amount is completely up to you.
Do you work with buyers?
- Yes, we do!