Hourly Real Estate Basics

Dont know about you, but I think its about time real estate brokers offer hourly real estate services to the public. If, like me, you have bought and sold a house or two in your lifetime, you will know what I mean when I say that I have been left at the conclusion of a real estate transaction shaking my head over just what my realtor did to deserve that huge commission check.If you have not heard of hourly real estate, here is how it works. A local community bank or credit union will enter into a comarketing arrangement with a real estate brokerage to refer their mortgage customers to that brokerage for help in closing their real estate transactions. The brokerage offers those customers a discount in the form of hourly real estate services. This especially pleases Internet savvy customers who prefer to search the listings for their next home themselves and do not want to pay a realtor for a service the realtor didnt provide.Real estate customers receive the same professional level of service with hourly real estate as they would under the traditional, commission based arrangement. The big difference lies in the fact that customers are billed on a time accountable basis using hourly rates corresponding to the category of service rendered, such as administrative, managerial and inspection services and professional real estate representation during contract negotiations and contingency fulfillment. Customers pay only for the services they actually use. This system more closely aligns with the billing practices of other professionals like attorneys and accountants. After all, we dont pay our attorneys a percentage based commission for our house closings. Why should realtors not also be held to a more time accountable basis for their services.Hourly real estate also greatly benefits home sellers. Chances are that if you are selling your current home, you most likely are buying another one. Hourly real estate frees up hundreds, perhaps even thousands, of dollars that you can put toward your new home. Wouldnt you rather put that money to work for you.