THE MONDAY GROUP LLC
TREC BROKER # 464116.
Negotiating the Deal
When you have selected the home you really want, your TMG Partner will provide you with a Comparative Market Analysis (CMA), using MLS “comps”, which will be the basis for negotiating with the seller through the listing agent.
Again, we are not biased by a seller’s listing agent or a higher sales price to pump up the commission fee.
This “basis” is a negotiating starting point and negotiating is a two-way street. A “lowball offer” may not get negotiations started and any hope of buying that home may fail. Your TMG Partner is familiar with the current market and will know if it’s a seller or a buyer market and how long homes have been on the market ... all important in negotiating a proper homebuyer price. And again, your preapproval gives you an advantage in the negotiation.
N. Terry Monday
(210) 213 1774
Going to Contract and to Closing
When the right price and terms are established, it is time to "go to contract”. Your TMG Partner willonly use Texas Real Estate Commission (TREC) and Texas Association of Realtors (TAR) forms. These forms are standard and properly filling in the blanks will reflect the transaction as negotiated. That’s your TMG Partner’s job… and we know how to do it right.
Some folks say this whole home buying thing can be stressful, but it shouldn’t be. It should be rewarding and easy ... with your help, your TMG Partner will make it that way.
Thank you ... we look forward to helping you find and buy your home.
That “listing agent” will tell you that they avoid conflict of interest by assigning a different agent, or “intermediary”, with their firm to represent you as the buyer. It is legal and they will tell you that it is ethical. But is it?
We do not mean to imply that our fellow Realtors® are unethical, and certainly not illegal; however, in our opinion, this “in agency” referral practice is inherently a conflict of interest.
(Please see: https://www.trec.texas.gov/forms/information-about-brokerage-services)
Location, Location, Location. This is most important because statistics show you will probably be there 9 to 10 years. You can search various locations on MLS, but it might be more fun and rewarding by driving around in areas that fit your location needs.
With MLS, and assistance from your TMG Partner, pick out just the homes that really appeal to you. Pick out several that fit your desired location, style, and budget ... but don’t call that listing agent … remember, that agent already works for the seller.
Your TMG Partner will schedule showings for the homes you are interested in. Don’t try to look at too many homes because after looking at several your priorities may become blurred.
Your TMG Partner will be helpful by counseling … not pushing as a listing agent may do. And because our commission fee is fixed at $5,000, we are not motivated to a higher offering price.
Flat Fee Brokerage
The Monday Group LLC is a Flat Commission Fee Agency. The standard real estate brokerage commission is 6% of the sales amount and is generally split equally between the seller’s agent and the buyer’s agent. This “standard commission” is not fixed by law and is negotiable.
Here is how our limited flat fee structure works: On the sales price up to $165,000, if the typical 3% split to each agent is offered in the listing, TMG would be paid the full 3%, for maximum of $4,950.
On any sales price above that amount the TMG commission fee is fixed at $5,000.
Example: The current San Antonio average sales price is around $280,000, and the standard 6% commission fee would be $16,800. The typical 3% split to the buyer’s agent would be $8,400 ... our flat fee commission is only $5,000. You, the homebuyer, would save $3,400. Of course, your savings go up from there ... the higher the price of your home, the more you save.
Very important … this is a savings to you, it is not a rebate. Rebates are complicated and may affect your financing.
How can we afford to do this? It is very simple … we want you to be involved in finding that special home yourself. As a homebuyer, you do not need to have a real estate agent driving you around showing their listings …which you may, or may not, want to see.
Since not many Homebuyers can ... or should ... pay cash to purchase a home, the first thing you should do, before you even begin looking, is determine how much home you can afford to buy. Otherwise you may spend a lot of time looking at "dream home"s you may not be able to afford. Don't be disappointed ... contact a mortgage lender to determine the best financing available to you. Your TMG Partner will discuss your options and make suggestions.
Being "preapproved" for a mortgage is best and it's easy. Mortgage lenders are eager to work with homebuyers to get preapproved ... most offer to do it online. Being preapproved is a huge advantage in negotiating with the seller, through the listing agent, for the best possible deal. We will show you an Internet program that lets you find the right mortgage for the home you have selected from MLS.