For years the real estate market has been evolving, says CNBC:
For decades, the 6 percent commission for real estate agents has been pretty standard, but then came 2 percent and 1 percent offers from new brokerages, and now, just a flat fee.
These changes have dramatically altered the way people buy homes and land. By forgoiung the usual percentage based fee, agents can now sell more expensive homes without feeling like their fees are a barrier. Customers can rest assured that they will be paying a preset fee and focus on what home to buy rather than haggle.
One of the leaders in this field is “London-based Purplebricks, which is barely 3 years old, launched its new U.S. business in Los Angeles on Friday, after raising $60 million in special stock offering.” by doing so, Purplebricks has found a way inside California’s red hot real estate market. The results have been beneficial to both the consumers and agents, CNBC says.
The high costs of real estate around the world have forced large realtors to adapt. Flat-fee style companies have gained some ground as a result of the trend and should be looked at by prospective home buyers.
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