Hermann London Agents want to make certain our clients are educated about the current Real Estate Market. It is important for us that you have all the information you need to feel comfortable and knowledgeable in making one of the biggest purchases of your life.

Lets start at the beginning of the transaction:

Eddie has a house he wants to sell on 123 Main Street, so he calls his local Realtor friend, Suzy from any real estate company. Suzy Realtor comes to Eddie Sellers house, sits at the kitchen table with him, and tells him she will sell his house for 6% of the total sales price. She helps him decide on the asking price, takes his pictures, and helps him fill out all the paperwork. Suzy puts her sign in the yard, a lock box on the door with the house key in it, and puts the property information on the Multiple Listing Service (MLS). The MLS is a database of property listings that only REALTORS have access too. Also on the MLS she puts the “co-broke” amount, the amount she will pay another Realtor from any company if they bring a buyer to her. Typically this is a portion of the 6% she is charging her seller, and usually around 2.7-3%.

Across town, Joey wants to buy a house, so he calls his local Hermann London agent, Adam. They meet up and Adam explains the Home buying process to Joey. Eventually Adam and Joey go to 123 Main street and Joey falls in love. When Joey buys the house, Suzy Realtor pays Adam Realtor the 2.7 -3% of the sales price that was offered on the MLS.

Frequently Asked Questions:

1. Won’t I save 3% if I didn’t use a buyers agent, and just called Suzy Realtor directly?

No, because Suzy Realtor has an agreement with Eddie Seller that when the house sells, she will get 6% of the sales price. If you don’t call a Hermann London agent first, Suzy will keep all 6% of the sales price to herself, and you are essentially paying her to represent the seller. The smarter option for the buyer is to have Suzy pay your Hermann London agent to represent you.

2. So if you get paid as a percentage of the sales price, aren’t you going to try to get me to pay more for the house?

Hermann London agents are on your side. We want you to get the best deal for your house. We are mainly a referral based company. Meaning we are counting on you to tell your friends, family, and co-workers that Hermann London helped you get an amazing deal on your dream home. We understand that by helping you lower the price you pay for the property by $10,000 our commission is only lowered by $270.00 to $300.00. If we rush you through the process and strong arm you into paying too much for a house you don’t like, we feel that you will not send us referrals, and even worse, will tell people not to call us. That’s a big blow for a referral based company like ours.