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We're giving away our Spot Listing Package for free in order to spread the word about our innovative approach to selling homes. By providing such a spectacular deal, we hope that lots of people throughout the local area will learn about the quality and value of Spot.
Spot does generate revenue through its partnerships with buyer brokerages. Spot's inventory of listings helps our buyer brokerage partners provide an excellent selection of homes to their buyer clients. Our cooperative relationships with such firms allow us to create opportunities for each other, and we do share revenue as part of this process. We also generate revenue on Spot listings through our a-la-carte marketing options and extra hours.
Spot has no hidden costs. But, there are indeed some costs incurred as part of the transaction. First, Spot requires that you offer a 3% co-op commission to the brokerage that represents the buyer of your home. This type of co-op commission is required for your home to be listed in the MLS. Note that this money is not paid to Spot - it's paid to the buyer-brokerage at settlement. There is a cost for extra marketing. If you desire marketing beyond the MLS, Internet, and yard sign, Spot offers a variety of additional marketing elements for a nominal charge. These include open houses, print advertising, virtual tours, and direct mail. Hours beyond the 3 included hours are billed. Should you require additional hours, they will be billed at a rate of $200 per hour, in 15 minute increments. Worried about the cost of billed hours? Don't be. It takes a lot of hours to equal the cost of a typical 3% commission. Even if you have a complicated transaction or you ask us to spend a lot of time, you'll likely save thousands of dollars. Closing costs. As with any real estate transaction (even a FSBO) there are closing costs incurred in settlement. These include the cost of the settlement agent, deed release costs, and transfer taxes.