Real Estate Website Outs Agent-to-Agent Commission Deals

Flat-fee real estate agency Trelora is at it again, publicizing Denver area agents' home selling commissions. Trelora considers the information a public service real estate selling tip, aimed at giving buyers "access to all of the information so they can make the best possible decision during their home buying process, and not worry that they're being pushed toward a more expensive home because it affects their agent's income," according to Trelora CEO Joshua Hunt.

Not the First Time

The last time (in February 2015) the Denver-based company attempted to provide information on buy-side commissions with its online listings, they were served with a cease-and-desist order from the region's MLS, REcolorado, citing a violation of Internet data-exchange rules regarding the display of MLS information.

How'd They Pull It Off this Time?

Per an agreement reached with REcolorado, now those looking to take a gander at commission information can set up a secure account with Trelora, signing a non-disclosure. The agreement is non-exclusive, allowing potential clients to continue to work with other firms.

The Devil in the Details

55,634 homes worth $22.2 billion were sold last year in metro Denver, according to the area Association of Realtors. Trelora estimates commissions at around $1.25 billion. Denver-based Trelora promotes a flat fee of $2,500 per buy-side commission, regardless of home price, unlike the percentage-based fee structure of traditional residential real estate companies.

The company says if all agents charged the same flat fee, consumers could have saved $970 million in commissions. "Trelora was founded on a belief in transparency and in offering the highest level of service and representation to our clients," said Joshua Hunt, CEO of Trelora. "It takes no more work for an agent to help a client buy a $700,000 house than a $350,000 house."

To view the original article, visit the Properties Online blog.