Read the series intro: Alternative Brokerages Flourishing Around Seattle
Today’s spotlight post in our in-depth series on alternative brokerages around Seattle is $500 Realty.
Ray Pepper has been a longtime reader and commenter here at Seattle Bubble. I’ve met him a few times, and he’s a stand-up guy. He even bought Ira and me lunch (at Claim Jumper, of course) when he lost a bet that I’d buy a home by March 2010.
I’ve reproduced Ray’s answers to the series Q&A un-edited below.
What is the single most important advantage your brokerage offers vs. using a traditional agent?
500 Realty offers the ASTUTE Buyer/Seller the largest financial incentive to participate in the transaction itself while getting compensated the MOST in the State. The “Golden Carrot” of a HUGE PAYDAY for our Agents is NON EXISTENT. A Brokerage that gets paid to produce, with large financial incentives to close, will NEVER have the BEST interests of their clients.
In 200 words or less, what factors make your brokerage different from a traditional brokerage? e.g. – Cost, services offered, agent compensation, etc.
500 Realty empowers the Buyer and Seller to assist their Agent in selling or buying their real estate investment. In return we compensate Buyers 75% of the funds paid to our Brokerage. With 75% of our funds going directly back to our client we are NEVER pressured to close a sale. 500 Realty requires Buyers to be Pre Approved, look for their own properties, and practice competent decision making. 500 Realty has a $3,900 minimum per transaction.
Who is your typical client? e.g. – Do you focus more on buyers or sellers, certain types of homes, certain price ranges, certain geographies, etc.?
Our typical clients are real estate agents who no longer hold a license, Mortgage Reps, Attorneys, Medical, Professional, Red Fin clients, and a great many investors who want the SELLERS CASH when they BUY and need to save THEIR CASH when they sell. We focus more on Buyers, any price range, anywhere in Washington State served by the NWMLS.
What is your fee structure? How much do buyers pay, how much do sellers pay?
Sellers: $200 to LIST your property on the NWMLS or $500 to LIST depending on your needs. We do NOT do Open Houses.
Buyers: Receive 75% of the selling office commission with a $3,900 minimum.
Is there anything else you would like to share about your brokerage?
If YOU or your Mortgage Rep still do NOT understand what 500 Realty does after visiting our website @