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Frequently Asked Questions from Sellers
Traditionally, home sellers have the mindset that they should interview several agents and do a lot of due diligence on agents prior to listing their home for sale. This is a totally understandable mindset, and it's starting to change because all listing agents use the same tool to find a buyer for you... your local MLS does a great job of matching buyers to sellers. The job of your local MLS is to find a buyer while the job of your listing agent is to provide sound advice, negotiate the best possible terms for you, and manage the transaction effectively. All GoldenKey agents are equipped to do that.
Average time on market
The success rate of our agents is very high. We have had homes sell in as little as 2 days. All of our agents are experienced, licensed, and affiliated with a local brokerage. The biggest factor in determining time on market is list price. We recommend that you get a professional price opinion to help set the best price.
You can order a price opinion here: https://www.goldenkey.com/services/request/price
Agents cannot blackball your listing with GoldenKey. It is illegal and doing so would put an agent's license in jeapardy. Moreover, it is impossible to distinguish a GoldenKey listing from a non-GoldenKey listing because GoldenKey is a marketplace of agents from all different companies. You are not listing your home with GoldenKey but with an agent who is affiliated with a local brokerage.
GoldenKey is an online marketplace, not a brokerage. When you list your home via GoldenKey, you are listing with a local brokerage. Therefore the branding on the for sale sign and MLS listing will be from your agent's company, not from GoldenKey. GoldenKey initiated listings are indistinguishable from non-GoldenKey initiated listings.
Closing costs vary be region and individual needs. Our partner agents will give you an accurate estimate of closing costs when you list your home.
Cooperating buyer agent commission
As a seller, you will offer a commission of up to 3% to cooperating buyer agents. Without that an MLS listing is ineffective. The amount of the offered commission is determined by you and the listing agent at the time of listing. Most sellers offer between 2.4% and 3% depending on the region. GoldenKey users agree to offer a minimum of 2%. Remember, this commission is what incentivizes buyer agents to bring their buyers to your home. We recommend that you offer a competitive commission to insure that your home is exposed to the full marketplace of buyers.
The agent who procures the buyer, be it your listing agent or any other agent, will receive the commission that you offer to cooperating buyer agents.
If you independently identify an unrepresented buyer, you may direct them to submit their offer via GoldenKey in order to capture the buy side commission rebate. In doing so, they buyer may be willing to pay a higher price than they otherwise would.
Cost & Pricing
You pay as little as $2,500 to sell your home. Compare that to 3% of the sale price with a traditional commissioned agent ($12,000 on a $400,000 home).
In addition, you will offer cooperating buyer agents up to 3% of the sale price to incentivize them to bring their buyers. You and your agent will determine an appropriate amount to offer.
Everything on GoldenKey is a la carte. Here is the full price list of services: https://www.goldenkey.com/a-la-carte
You can also opt for the Bronze, Silver, or Gold plans which provide you a set of services to match your needs. Here are our plans for sellers: https://www.goldenkey.com/sell
Plans include a subscription fee because you don't have to pay until closing. I recommend using the a la carte services because you don't have to to pay the subscription fee when you pay as you go.
FSBO & Flat fee MLS services
This is not a for sale by owner platform. Nor is this a flat fee MLS service. This is full service on an a la carte basis. You will receive full agent representation, virtually the same service you would get from a traditional commissioned agent. The only difference is you only pay for what you need, and you save a ton of money.
Our agents are standing by and are ready to come out and list your home any time you are. It only takes a day or two to get your home listed. When you are ready to schedule your appointment, click the link below. Several days advance notice is preferred but not necessary. We will come out when you need us.
How it works
Selling your home is easy and affordable with GoldenKey. You get full agent representation just like you would expect from a traditional commissioned agent but on an a la carte basis. The only difference is instead of paying a big commission at the end you pay a small fee. See how it works here: https://www.goldenkey.com/sell
If Home Doesn't Sell
There is no penalty or obligation if your home doesn't sell. Typically you are only out the $200 to list your home if it doesn't sell. Furthermore, you only pay the $1800 transaction coordination fee if your home closes. So, if your home goes under contract but fails to close then you do not pay the fee. When your contract falls apart your home will go back on the market with no additional fee.
You will sign a 6 month listing contract with your agent. It can be cancelled at any time with no further obligation, no questions asked. There is no penalty or fee to cancel. Therefore, you have total flexibility. Following a cancellation, you are free to sell it yourself or re-list with a different agent immediately.
For $200 (List a Home), you will get a full agent representation until your home goes under contract including an MLS listing, for sale sign, comprehensive internet exposure (zillow, realtor.com, etc.), showing coordination, feedback, offer negotiation, and contract preparation. Following an accepted contract, for $1800 (Transaction Coordination) you will get continued agent representation from the same agent and step by step support through closing just like you would get with a traditional commissioned agent. If you want your agent to leave the office to hold an open house or attend an event like closing or inspections it is an extra $200. Professional price opinions are an extra $50. Unlike our other services, you only pay the Transaction Coordination fee of $1800 if you successfully purchase the home.
You are responsible for providing photos, measurements, and a lockbox. You can take the photos yourself or hire a photographer. You can buy a lockbox on amazon.com for as little as $20. We are a green technology company, so flyers and disclosures are made available online rather than printed and placed at the property.
Here are the various a la carte services: https://www.goldenkey.com/a-la-carte
With respect to marketing, your agent will list your property in the local multiple listing system (MLS) and generate comprehensive internet exposure on zillow, realtor.com, and all the rest. This will expose your home to 100% of the buyers in the marketplace.
A big misconception amongst sellers is that they need to hire a listing agent who can "find a buyer". The truth is all agents are on a level playing field from a marketing standpoint. Regardless of the agent or company you list with your home will be available to all the buyers in the marketplace. Those buyers will find your home in the MLS or on the internet. You don't need an agent to go find buyers. The real value of a listing agent is pricing strategy, negotiating skill, disclosures, professional advice, and transaction management. You will get all of these things with a GoldenKey partner agent.
You are responsible for providing a lockbox to facilitate showings. You can purchase a lockbox on Amazon or at Lowe’s for about $20. We don't recommend it, but alternatively you can choose to be present at all showings instead of using a lockbox.
Measurements & Sketches
You are responsible for providing home measurements and/or sketches if the agent asks for it. An old appraisal will generally do the trick. If you don't have an appraisal then you may have to hire an appraiser to do the measurements at an approximate cost of $100.
You are responsible for providing photos for your listing. You may take them yourself or hire a professional photographer. You may not use photos from a previous listing because multiple listing services generally do not allow that.
As a seller, you will save as much $10,000 on a $400,000 home compared to a traditional commissioned agent. Instead of paying 3% of the sale price to your listing agent, you only pay as little as $2000. Check out our savings calculator: https://www.goldenkey.com/sell
The Bronze plan ($2,500) will get you everything you need to sell your home. It is virtually the same service you would get from a traditional commissioned agent. If you want your agent to also hold an open house, then select the Silver plan ($3,000) instead. If you want your agent to hold an open house and attend closing with you, choose the Gold plan ($3,500). Remember you can always purchase additional services a la carte if needed. In fact, you are not required to choose a plan at all. You can always choose to pay as you go with a la carte services and avoid the subscription fees which are included in the plan prices.
Here are the various plans: https://www.goldenkey.com/bundles/sell
All listings through GoldenKey include unlimited showings of your home. You may choose to require confirmation prior to showings or to simply be notified. Each prospective buyer will be accompanied by either your listing agent or the buyer's agent. You do not have to be present at the showings. Most sellers, in fact, are not present. Feedback from each showing will be requested and made available to you.