There is no required commission rate
A seller and listing brokerage agree on the fee and services in the listing agreement. Michael offers eligible sellers full-service representation for a flat $4,995 instead of a percentage-based listing fee.
Listing-side and buyer-side costs differ
The listing fee pays the brokerage representing the seller. Any buyer-broker compensation is a separate decision. Other costs may include title work, taxes, repairs, concessions and closing charges.
Compare the service
Ask who handles pricing, photography, marketing, showings, negotiations, inspections, appraisal issues and closing coordination.
Example comparison
On a $400,000 sale, a hypothetical 3% listing-side fee is $12,000. A $4,995 listing fee is $7,005 less. This illustration excludes buyer-broker compensation and other transaction costs.