Frequently Asked Questions (FAQ)
Where is 1% Full Service available?
1% Full Service is available in NYC, Long Island, Hudson Valley and South Florida.
New York Counties: New York (Manhattan), Brooklyn, Bronx, Queens, Westchester, Orange, Putnam, Dutchess, Ulster, Rockland, Sullivan, Nassau and Suffolk.
Florida Counties: Miami-Dade, Broward, Palm Beach, Martin and Saint Lucie.
How much can I save with 1% Full Service?
Instead of charging you 6% and only splitting that with a buyer’s agent if the buyer is represented, our seller’s brokers charge 1% in commission while still allowing you to offer a market-rate commission of 2.5% or 3% to buyer’s agents.
Therefore, if you decided to offer 2.5% to buyer’s agents, then a buyer who has an agent will cost you 3.5% in total commission. 1% to us and 2.5% to the buyer’s agent.
If the buyer does not have an agent, our seller’s broker will waive the 1% listing fee and only keep the buyer agent commission, or 2.5% in this example.
In the above example, you would save 2.5% in commission if the buyer is represented, and 3.5% in commission if the buyer does not have an agent. That’s 50% in savings on average vs a traditional 6% commission structure.
Who pays the buyer agent's commission?
Sellers customarily pay the entire broker commission, meaning both the seller agent’s and the buyer agent’s commission. In a traditional sale, the seller signs a listing agreement with the seller’s agent agreeing to pay 6% in commission.
When the seller’s agent, i.e. listing agent, lists the property in the MLS, he or she contractually offers commission to cooperating buyer’s agents. How much the listing agent splits depends on specific MLS rules, but many MLS systems require co-broking of at least 50% of the total commission to the buyer’s agent.
Please note that the 1% listing fee does not include the commission you choose to offer to buyers’ agents. We recommend offering a market rate buyer’s agent fee for full exposure.
How much do I save if the sale is with a direct buyer?
If your listing agent finds a direct buyer, you can expect to save even more commission versus what a traditional seller’s broker would charge. That’s because our brokers waive the 1% listing fee in the event of a direct buyer, and keep only the buyer agent commission instead.
With traditional listing agents and a typical Exclusive Right to Sell listing agreement, you’d be required to pay the full 6% commission to the listing agent even if the buyer for your property is not represented by a buyer’s agent.
What's the difference vs a traditional listing?
A Hauseit 1% Full Service listing offers you the same scope of work and level of service you’d expect by hiring a traditional, full-service agent who charges 6% commission. The only difference is how much money you will save on closing costs. A traditional listing agent charges you 6% commission regardless of the outcome, even for a direct (unrepresented) buyer.
Some unscrupulous agents will try to convince you that paying 6% commission is some sort of law. If that happens, make sure to ask them if they’re a lawyer as it’s not. Failing that, your local Realtor might claim that their fee is really only 3% as they most likely will have to split the commission equally with a buyer’s agent since 75-90% of all buyers are represented.
Just remember that real estate agents will say almost anything to try to justify a 6% commission, but the hard truth is that 98% of home buyers use the internet to search for homes according to a research study done by NAR. The other 2% presumably rely exclusively on a buyer’s agent to search on their behalf.
Why is this meaningful? Because no real estate brokerage owns the MLS, RLS nor any of the popular real estate search websites that buyers and their agents use. All listing agents upload their listings to the MLS, after which it is automatically syndicated to an industry standard set of places. As a result, the marketing exposure that a property receives is by default indistinguishable no matter which brokerage lists your property.
How long has Hauseit® been around?
We’ve helped thousands of customers save millions on their home sales and purchases since we first opened our doors in New York in 2014. Since then we’ve established a number of traditional brokerage brands in select markets like New York to work with buyers and sellers who sign up for our full-service product.
While we started with New York City, we quickly expanded service to cover Long Island and the Hudson Valley. As members of the Long Island Board of Realtors with access to the OneKey MLS, we’ve been providing our services to buyers and sellers in Nassau, Suffolk, Westchester, Rockland, Putnam, Orange, Dutchess, Ulster and Sullivan Counties.
In 2021, we opened up for business in Florida with a focus on the southeastern Florida counties of Miami-Dade, Broward, Palm Beach, Martin and Saint Lucie. Our business is headquartered today in Miami, Florida.
Who will be my agent?
After your introductory call with our team, we will assign you an agent who will be your main point of contact throughout the process. We assign agents based on best fit and proximity.
We are confident that you will be happy with the agent we assign; however, if for whatever reason you wish to be assigned a different agent, please contact us right away so we can assign you another agent.
In select markets like New York, we may assign you to one of our partner brokers operating under a different brand. In all other markets, you will be assigned an agent working under the Hauseit® brand.
Will someone handle the whole process for me?
Yes. A Hauseit 1% Full Service listing is identical in every way to what you’d receive by signing up for a full-service listing with your local agent for 6% commission. The only difference is the commission structure and by extension, how much money you save on closing costs. This means our brokers will take care of everything from the marketing of your home to handling inquiries and showings, conducting open houses, reviewing and negotiating offers and assisting with the board package in the case of a condo or co-op.
Will my agent conduct open houses?
Yes. Open houses and private showings are included. Our service is identical in every way to you signing up for a full-service listing with your local agent for 6% commission. This means our brokers will take care of everything from the marketing of your home to handling inquiries and showings, conducting open houses, reviewing and negotiating offers and assisting with the board package in the case of a condo or co-op.
Should I try to sell on my own first?
It depends. Do you work from home or are you otherwise able to easily show your property? Are you comfortable operating in a sales role? Are you able to devote significant amounts of time to answering calls and emails, conducting showings and managing the sale process?
If not, then important to be realistic about your possible time commitment. It’s pretty likely you won’t be able to leave work on a whim to show your apartment.
What will you do when that all cash international buyer wants to see your apartment at 2 PM on a Tuesday? Who will arrange for photos to be taken and a floorplan to be drawn? Who will guide the buyer through the building’s purchase application and review it before submission? Unless you have a lot of free time and work from home, you’ll likely need the assistance of a real estate listing agent to manage your sale.
How is the Hauseit® Assisted FSBO service different?
A Hauseit® Assisted FSBO listing is a do-it-yourself listing service whereas 1% Full Service is a traditional, agent managed listing. Although your home will be listed in the same places under either service, Hauseit® Assisted FSBO sellers are expected to fully handle their sale process from the moment they are relayed an inquiry by our front desk. There is no phone support, email support or pricing guidance included with our Base and Core plans.
As a result, a Hauseit® Assisted FSBO listing is most appropriate for sellers who can easily show their own home, who are self-starters, who are willing to do their research and who have the right level of expectations for a flat fee MLS listing. Learn more about the difference between our 1% for Full Service and Assisted FSBO listing options in this tutorial video.
What's wrong with selling For Sale By Owner?
The traditional method of selling For Sale By Owner (FSBO) simply doesn’t work well for a few important reasons.
First, FSBO homes are technically “off-market” because they are not listed on the MLS (RLS for NYC sellers), which means they’re unable to contractually offer commission (i.e. co-broke) to buyers’ agents who represent 75-90% all of buyers.
Second, FSBO sellers are constantly targeted and solicited by real estate agents looking to score their next exclusive listing. The harassment is so intense and deceptive that FSBO sellers often have a hard time telling fake and real buyer inquiries apart.
Third, FSBO sellers often don’t have the right approach to marketing, meaning amateur photographs or only being listed on one or two irrelevant websites.
How do I sign up for 1% Full Service?
To get started, simply choose a time on the calendar above to speak with one of our brokers. If none of the times work for you or you need to speak with us after business hours, please email us with your name, phone number, property address and contemplated listing price and we will do our best to accommodate you.
During your complimentary consultation, our brokers will discuss your goals and questions on the sale process and formulate a marketing strategy for your home. You will also have an opportunity to discuss and agree upon a reasonable initial listing price that works for both parties.
Can I pay for additional marketing or premium advertising?
Yes. Certain 3rd party websites offer premium advertising which you can elect to pay for. For example, StreetEasy offers the ability to feature your listing in search results for a non-refundable fee. While we do not believe paying for such features is necessary nor industry standard, we can certainly invoice you for anything you would like to add-on, whether it be a print advertisement in a specific luxury magazine you’re fond of to featured placements on 3rd party websites. Learn more about StreetEasy’s Featured Listing and Agent Spotlight programs in this video.
Do you have any minimum price or commission requirements?
Our brokers need to earn a minimum of $7,500 per transaction. Therefore, if your sale price is below $750,000, the actual commission you will pay your listing broker may exceed 1%.
Does Hauseit collect referral fees from its partner brokers?
No, there are no referral fees between external parties to worry about because Hauseit and the partner brokerages we work with are under common ownership.