Flat fee, full service brokerage New Era Real Estate, secures seed investment
Published May 11, 2023 at 10:54 am
At New Era Real Estate, the goal is to continue disrupting the real estate industry with its flat fee and full-service commission model.
Compared to other full-service brokerages that charge between 2.5% and 5% commission, New Era prides itself on charging only a $5,900 flat fee for the same full service, no matter how much the property goes for.
On top of that flat fee, New Era doesn’t lock sellers into contracts, meaning they’re free to withdraw at any time – and not a cent is paid until the property has been sold.
If the buyer is unrepresented, New Era will represent both the buyer and seller, saving clients even more money by waiving the cooperating commission.
Recently New Era has closed a significant financing round from a syndicate of seasoned seed investors, meaning the brokerage’s future is brighter than ever as it continues to save its clients thousands of dollars in commission.
New Era Real Estate founder John Martino says the brokerage has perfected its flat fee model in a real estate industry that he believes has become “extremely dated.”
In a recent interview with BNN Bloomberg, Martino pointed out that home prices have skyrocketed, resulting in commissions skyrocketing as well – despite the agent’s job being easier than ever.
“The current system is extremely archaic. It really favours the agents, the industry, but it doesn’t favour who it should: the consumer,” said Martino.
“At New Era Real Estate, we simply want to offer that full service everybody wants and needs, but at a fair flat fee of only $5,900.”
New Era’s full service matches that of what you would expect from traditional brokerages: Access to their personal home owners online portal, market analysis, professional photography of your property, a variety of selling strategies, home preparation, a robust marketing/advertising campaign, scheduled showings and buyer qualification, negotiation, and much more.
Additionally, all New Era listings go on MLS and all major real estate websites and social media platforms, ensuring each property reaches the widest possible audience.
All of New Era’s agents and brokers are fully licensed with years of experience, and sellers are matched with agents that specialize in their area.
Martino says New Era Real Estate is going strong despite the backlash from some traditional brokerages.
“A few of them have been quite upset,” he said, “but at the end of the day we’re doing everything in favour of our client. We’re giving them the full service that they want, and our homes are selling in record time.”
Since its inception, New Era has amassed glowing reviews and testimonials from satisfied clients.
That includes the seller of a property in Burlington that recently sold for $3 million, saving the seller about $71,000 in commission fees after selling with New Era Real Estate.
Interested in selling your property? New Era Real Estate’s website lets you calculate the value of your home and how much you could save on commission with New Era’s flat fee.
Sellers also get access to a personalized web portal that provides everything they need to know about the sale of their home: Property photos and details as it would appear on realtor.ca, paperwork signed and broken down into layman’s terms, showing feedback, showing scheduling, messaging and more, keeping sellers fully informed in real time while still having 24/7 access to their agent.
“We are very anxious to take this company to the next level, continuing a high focus on saving homeowners thousands on commission while maintaining the integrity of full service real estate,” said Martino.