flat-fee broker

flat-fee broker

One who charges a set fee rather than a percentage of the sale price of a property.Flat-fee brokers typically offer unbundled services,or no-frills services,and almost always exclude any services connected with showing property, handling negotiations, responding to consumer inquiries,or assisting with closing.

For a flat fee, one may usually obtain some combination of the following:

• Listing on the local multiple listing service
• Yard signs and subdivision entrance signs
• An assigned phone number with voice mail for callers
• Placement on a Web site
• Packages of forms, instructions, videos, or DVDs
• Apersonal consultation for a specified time period
• An initial walk-through inspection with recommendations

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.