OLATHE, KAN. - The National Association of Realtors says Kansas City is among the areas to watch this year for homes sales. Experts expect sales to climb because of lower homes prices and warmer weather. FOX 4's Mitch Weber discovered there's a new real estate service trend popping up in the metro that could save sellers thousands of dollars.
A flat fee real estate service is more common on the East and West coasts, but because of down economy the trend is starting to show up in the Midwest. Which can be good for sellers and agents looking to start their own realty business. Katie Yeager is one of those entrepreneurs. She started a flat fee real estate service two months ago with a former broker colleague.
The flat fee starts at $1,500 for a house that sells for up to $190,000. The rates go up in $400 increments as the sale price goes up. The fee is paid at closing.
Katie Yeager/Your Future Address Owner says, "A lot of people who purchased their homes two to three years ago they don't have the equity to be able to pay 6% and they don't have the funds available because of the economy." >
Yeager says they might not make as much commission as other listing services, but they save money by not pay for advertising. They rely on word of mouth and free services online.
New housing numbers show that sales are up almost nine-percent from a year ago. With home prices so low, and mortgage rates hovering near historic lows, buying a home is considered cheaper than renting in almost every market in the U.S.
The National Association of Realtors has more information on the changing housing market. Click here for the information.
For more information on Your Future Address click here.