This new business model is exciting, says Jimmer Greguske, broker/owner of GoJimmer Real Estate.
Going forward they will offer a $495 and 1% commission for a full service, MLS listed, licensed broker, full service listing. The $495 is collected at listing signing, the 1% when the property closes with the title company. This commission structure is sure to benefit both sellers and buyers.
With the average home sale appreciating into the $300,000 level, each percent saved represents $3,000, and saving multiple percents will add up fast. Sellers are going to love this.
Buyers will benefit from this as well, especially the ones that are contemplating whether they want to hire and pay for a buyer’s agent. “Unrepresented buyers that reach out to me directly,” Greguske adds, “have the opportunity to both view and make an offer, without buyer agency fees. This can make their offer more appealing to sellers!”
Why the change? Since 2012 GoJimmer already had a “one of a kind” 2% model that grew to over $100 million in listing transactions. Sellers repeatedly expressed their relief to find a full service broker at a reasonable price.
But the real estate business is changing, and soon enough, those changes may come to Wisconsin.
Class action law suits — in Missouri, the Sitzer/Burnett case went to trial, and the jury ruled in favor of homeseller-plaintiffs and awarded $1.78 billion. In this case the defendants were the National Association of Realtors and various franchises — a couple franchises proposed settlements. At issue was the cooperative compensation collected from sellers to pay for buyers agents.
Now there are copycat lawsuits springing up across several states — the list continues to grow.
GoJimmer is ready to take the lead, and simplify that listing contract.
In Wisconsin, we have the ability to sell a home with no co-broke — the cooperation commission at the core of the lawsuits. We also have the ability to work with buyer’s agents, its just that now the commission for the buyer’s agent gets funded by the buyer, or gets addressed in the offer, where it is negotiable for the seller.
For additional information, visit gojimmer.com or call (920) 660-1846. Also, look for the GoJimmer ad, “Simple, $495 at Listing and 1% at closing”on page 5.