**This post has been sponsored by nada Realty to bring you this experience. All opinions are 100% our own!**
Raise your hand if you HATE buying and selling a house. The process is horrible.
To sell, you have to find a realtor (BTW- how do you even find a good realtor if you don’t personally know one?), prepare and stage your house and leave at a moment’s notice for showings. And that’s before you even get to the negotiating stage, which stinks even more, especially once you see repair costs, closing costs and the dreaded 6% realtor commission.
To buy a home, it seems like you have to look at 400 houses to find one that’s just right, not too big, not too small, the right backyard, kitchen, updates and the list goes on. We always think a house is overvalued, so you negotiate. Then, just like selling, you realize again, closing costs and the dreaded 6% commission are impacting your pocket book.
I know realtors work really hard for that 6%, but do I really have to share part of the value of my home with them? Call me selfish, but I want to keep every last dime possible for myself. The 6% fee structure is outdated and simply a habit we can’t get past. With the resources available online, I can now see and find what I want without a realtor having to do the heavy lifting. A realtor’s job is cut in half, yet their old-school commission structure stays the same.
This is where nada Realty comes in. Yup! nada. Great name, right? When you buy or sell your home with nada, they give homeowners their hard-earned equity and they keep that value circulating throughout the community. At nada, they see the big picture in homeownership: the people, communities and resources. What they do take is spread fairly among the agents and what they do give back, is done with the health of the community in mind.
A little different than your typical realty company, huh? Let me give you some numbers:
If you sell your home valued at $300,000, you’ll pay 6% commission to your Listing agent, which is split with the Buying agent, that’s $9,000 per agent. Y’all! $9,000! Your realtor just made $9,000 to put as a down payment on that Mercedes they’re driving. If you use a flat-fee structure, like at nada, you would pay a flat fee of $3,500 to list your home, which means you KEEP $5,500 of what you’d normally pay a realtor. That is $5,500 to put towards your child’s college savings or tuition for preschool.
nada’s approach is “that’s enough.” The commission they pay their realtors is enough. Their executives know that their (lower) salary is enough. Their team knows that doing right by their clients is what’s right. There is a greater purpose beyond money. I spoke to nada’s co-founder & CEO and talked a lot about nada’s business model, but what really struck me was that he knows he’ll never make the same money as most CEOs. He knows he’ll never make millions of dollars. He would rather the high salary be given back to the communities they serve. Wow, right?! You don’t hear that often.
As they focus on getting certified as a B Corp, which will hold them accountable to certain social and environmental commitments, they want to attract talent that aligns with “doing what’s best” for YOU, the client. They currently have developers building a community portal, which will not only be a hyperlocal wealth of community knowledge, but become the marketplace in which a buyer can spend their rebate in the form of community credits.
For example, there may be a math tutor in your neighborhood that offers a special promotion of three months assistance in exchange for $500 in credits or even a local private school offering your family your first month free for the full $3,500 credit used.
To be clear, one of their biggest social benefits is keeping money circulating within the local community. They partner with local businesses and local agents to keep money flowing within, rather than being extracted by large corporate realty offices.
If you are ever interested in working with nada, they love having local community leaders as their real estate agents. We all know the truth: WE are the local leaders within our community. They want, need and RESPECT that.
Want a VERY special offer for Dallas Moms Blog readers only? Go to nadarealty.com/dallasmoms!