Austin Real Estate Market Gets a New Player in the Mission to Lower Real Estate Commissions

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A new real estate company founded in Austin, TX is changing how consumers view real estate agents and commissions they charge by educating sellers on how homes are actually marketed and sold and what the true worth of the agent's services actually are. Innovo Realty also has a "menu of services" for sellers to choose from, unlike most real estate companies which charge the same amount of commission to all consumers.

Unfortunately, some of these fallacies have been created and perpetuated by real estate agents and companies themselves in order to justify a high commission and hinder innovative companies that charge less for the same services from gaining too much market share.

A seasoned Texas and Massachusetts real estate Broker and a new real estate company founded in Austin, TX are changing how consumers view real estate agents - and the commissions they charge - by educating sellers on how homes are actually marketed and sold and what the true worth of the agent's services actually are.

Laurence Tamkin, Broker and Founder of Innovo Realty in Austin, Texas, is on a mission. He has spent the last few months educating home sellers in Austin about what they should be paying for real estate commissions: "I really try to help home sellers by clearing up the long held myths that have been perpetuated by many real estate agents and companies in the industry."

Some of the myths are: 1) That sellers need to pay 6% commission to get their home sold, 2) That agents won't show a home to their buyer if listed with a "discount" company, 3) That a "big" company will sell your home faster than a small company, and 4) That outdated advertising such as newspaper and print advertising, as well as open houses, will result in a sale of your home faster than listing your home on the MLS.

"Unfortunately, some of these fallacies have been created and perpetuated by real estate agents and companies themselves in order to justify a high commission and hinder innovative companies that charge less for the same services from gaining too much market share."

Innovo Realty offers a "menu of services" that allows home sellers to choose from a number of service options depending on what they feel they need. "Not every seller needs the same services. Some sellers are very comfortable staging their home, but not with negotiations, while other sellers may be very comfortable with negotiations, but not preparing their home for sale. By allowing sellers to choose from a number of service packages, they can both take a more active role in the process if they wish, as well as save a great deal of money on the real estate agent's commission."

While some other real estate companies have offered "flat fee" type services, Innovo Realty is the first Austin Real Estate company to offer a variety of service options catered to different types of sellers in different situations. "If a seller wants the 'full service, elite package' and doesn't mind paying for that, they will pay about the same as most other companies charge, though we tend to be a little less. If they just want a basic level of services, such as listing the home in the MLS, Realtor.com and dealing with negotiations when an offer comes in, we do that very well, and they will pay a fraction of what other companies typically charge."

So far, Mr. Tamkin's hard work has paid off: in just four months from starting his company, he has listed over $5,000,000 in real estate in Austin on his own. Not an easy feat in an area where the median home price is about $300,000. Seems like he is on to something.

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Laurence Tamkin
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