"On a $1 million home, that can mean $25,000 in agent fees. The idea is that I do the same work for a $200,000 loan or a $9 million loan, Glick said. I'm not the partner of the buyer or the seller I didn't invest in the property. I've got nothing into it. So I came up with a process where I can charge a fixed fee because it makes sense."
"On the seller side, Glick said his flat $15,750 fee includes expenses other agents typically pass on to the homeowner. I pay for all the inspections, no matter what they are. I pay for cleaning the house. I pay for all the photography, the drones, the Matterports all that kind of stuff, he said. In addition to having a lower price than everybody else, I'm also paying for things, which they don't."
Founded in 2015, Arrivva charges a flat $9,750 fee for buyers and $15,750 for sellers regardless of home price, replacing typical percentage-based commissions. Traditional 2.5% per side can yield about $25,000 on a $1 million sale; Arrivva maintains the same work for loans from $200,000 to $9 million under fixed fees. The company operates in California, Washington and Texas and plans to re-enter Pennsylvania. A mortgage brokerage charges a flat $5,750 over wholesale, roughly one point on $500,000 and under half a point on $1 million. Seller fees cover inspections, cleaning, photography, drones and Matterports. Arrivva also challenges escrow and title dollar-per-thousand pricing by using a northern California title company.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]