British real estate company Monday launched a flat fee home listing service in San Diego County, charging sellers $3,200 to list a home.
The cost is likely cheaper for most sellers who are used to a 2.5 percent listing fee, so the offer could save sellers hundreds of dollars in commission costs.
Purplebricks, with its flat fee, adds to a growing number of companies that are lowering commission fees in the competitive Southern California housing market.
Eric Eckardt, CEO of Purplebricks’ U.S. operation, said the company offers as much, or more, than a traditional real estate brokerage. Low listing fees are sometimes associated with agencies that don’t do much for clients.
“The flat rate obviously is a great value,” he said. “Home sellers get 3-D virtual tours, a full-service offering, professional photography and a local real estate expert that actually shows up at the house and works with them throughout the process.”
A typical listing fee is about 2.5 percent of the sale cost, and an additional 2.5 percent for the buyer’s agent.
For a median priced home in San Diego County, $540,000 in November, a seller could save roughly $10,000 on listing commission fees.
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