A couple of weeks ago, I posted about a potential change in our business model. I’ve always been a huge fan of the whole “Give Money Back to the Consumer” concept, and I even tried it for a short period of time a couple of years ago with great success. Well, here we go.

How Does it Work?

Simple. For any home over $100,000, I will provide 50% of Level 10 Realty’s total commission back to the consumer at closing. It can be used towards closing costs, upgrades, cash, or any other number of things as allowed by YOUR lender or mortgage company and Alabama Real Estate Law. For example, let’s say that you want to buy a $200,000 home. On most homes, 3% selling commission is very common. With that number in mind, $200K x 3% Commission = $6,000 total commission. You get $3,000. Who couldn’t use that kind of extra money on a purchase you were going to make anyway?

I don’t want to give you the impression that Level 10 Realty is becoming a “discount brokerage”. That term implies that you’ll get substandard service and that couldn’t be further from the truth. You will be getting second-to-none service and top-notch expertise.

Why is Level 10 Realty Doing This?

I’ve always been a fan of what Redfin is doing. Yeah, this is kind of biting their style, but it’s for a good cause. Think about it for a second. If I sell a $100,000 home at 3% commission, I’ll make $3,000. If I sell a $200,000 home at 3% commission, I’ll make $6,000. There is absolutely, positively NO DIFFERENCE in what is involved in selling the $100,000 home versus the $200,000 home. So, why do we get paid so much more?

That’s where I’m looking to make a change. In this economy, money is tight. You can’t walk in the door at WalMart without spending $100. Two people can’t eat fast food for under $10 anymore. Two people can’t go out and eat a good meal for under $30 anymore. Utility bills are higher than they’ve ever been. It’s time to get you more money, instead of taking it away. Real estate companies talk about how they’re different all the time. “We’re different that your normal Brokerage because we put the consumer first”, “We’re different because our agents are trained better and more often”, “We’re different because we’re different”, and so on and so forth. Bullshit. Here’s how I look at it. If a brokerage is not doing everything they can to put money back in your pocket, they are identical to every other brokerage on the planet.

With that said, do I hope that this plan of action will grow Level 10 Realty  and put more money in my pocket? Hell yes, but if I can grow Level 10 Realty while putting more money in your pocket than any other company will, doesn’t everyone win?

Ok, So What’s the Catch?

There is going to be an extended period of time to integrate this into our business model. So, until that transition is complete, there are a few things that you’ll need to do to get the money. The absolute, most important things that you HAVE TO DO to claim your money are as follows:

1. As you may think, you’ll need to purchase a home and Level 10 Realty will have to represent you in your purchase.

2. You MUST mention this special WHILE writing the offer to purchase your home. Real Estate Law prohibits any exchange of money between the purchaser and Realtor that is not written in the contract.

3. You must fill out a public customer satisfaction survey.

4. That’s it!

I look forward to working with each and every one of you!

This entry was posted on Monday, May 24th, 2010 at 1:13 pm. You can leave a response, or trackback from your own site.