EZ Offer 0% Commission Program for Home Sellers

The #1 reason FSBO sellers try and sell their home on their own is because they do not want to pay a big commission. They are wasting their time and efforts when they could pay up to 0% in commissions and have a full-time full-service Realtor giving them top notch service.

0% Commission Pros and Cons

How the EZ Offer Program Works

  • The seller and agent agree upon a starting bid (list price) of the property that is approximately 10% less than the market value. This price stimulates interest and does not include commission.
  • The seller agrees to signing a one-year listing agreement as well as getting a full house inspection prior to the listing going live.
  • A regular NABOR or FAR/BAR listing agreement is signed along with an addendum that clearly states the seller has the right to accept, counter, or reject any offer (the seller stays in control). The addendum also states that the seller is not responsible for the commission, however they can opt for a .5% 1% incentive bonus. It further states that the buyer will pay a premium on the selling price.
  • After the pre-inspection is completed, the agent will suggest ways to get the home picture / showing ready and then arranges (and pays for) professional photos and sets up the marketing campaign. 
  • The property is listed on the MLS, Zillow, Realtor. com, Trulia, and hundreds of other real estate websites, as well as hyper-local websites. The property is also highlighted as a Featured Property on my websites HomesAndDocks.com and eNaplesFlorida.com.
  • The property is simultaneously listed on EZ Offer a bidding (not auction) website. In order for buyers to bid, they must submit their pre-approval or proof of funds which is verified by EZ Offer. Based on this information, they are given a maximum amount they can bid. Once the bidding period is over (this is generally 14-days but can be changed or repeated at the request of the seller), The final bid amount and buyers' premium is combined and that total is the amount entered into the NABOR or FAR/BAR sales agreement. A shorter due diligence period is given because, a) the seller has already performed the inspection, and b) the buyer has been verified pre-approved so there should be no contingencies. 
  • As for showings, if we agree on a 14-day bidding session, we would not have any showings until one week after the listing went live and would kick it off with an open house. 
  • The buyer has an advantage over other buyers as they can see the bids in real time and do not have to compete with "highest and best" which is frustrating and disappointing to them. If they really want the home, they can continue bidding up to their maximum approved amount.
  • Once the seller receives the signed sales agreement, they have the right to accept, counter, or reject the offer and the terms, there is no risk for them. If they accept, they sign and all parties are under contract. 
  • The seller has the option, when signing the listing addendum, to offer a .5% - 1% bonus. This is completely optional, but this bonus commission, in addition to the buyers' premium that pays the transaction commission, can be used as a bonus to the selling agent. The way it appears in the MLS - the selling agent would be receiving a 3.5% - 4% commission - this will stand out and encourages more agents to have their buyers consider your property; but again, this is optional and up to the discretion of the seller.
  • If the property does not sell during the first 14-day bidding round, the seller has the option to repeat the bidding again or turn it into a regular listing. If they opted for the regular listing, the price would increase and they would be responsible for the commission.
  • If the seller cancels the listing contract before the year-long agreement is up, they would be responsible for the termination fee which is generally around $750 and is laid out in the listing addendum. This fee is for photography, social media ads, printing, etc.  When the home sells, or the contract runs out, the seller would not have to pay a termination fee, all of those expenses are absorbed by the listing agent.

With the changing dynamics in Real Estate, this is a great new approach that will save you money, time, and stress.

Please reach out to me with any questions.

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