Latest news with #flatfee
Yahoo
03-08-2025
- Business
- Yahoo
The housing market is changing. Is a low-fee real estate agent the way to go?
When Jonny Ballesteros and his fiancée, Jen, began house-hunting, they weren't sure what to expect. It was the first purchase for the couple, who are both 29, and in the competitive San Diego-area market where they lived, they needed some hands-on guidance. But the real estate agents they contacted were no help. They appeared to be too busy to offer the kind of service the couple wanted. They decided instead to work with a new company that offers flat-fee brokerage services for buyers. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership While the cost savings was helpful, Ballesteros also felt he and Jen got the support they needed: suggested homes that matched their criteria, viewing appointments, and online chats about everything from scheduling to questions about process. "We truly needed that hand-holding because it was our first property,' Ballesteros told USA TODAY. In an age when Americans do everything from writing their wills to ordering their groceries online and without a middleman, the residential real estate industry remains stubbornly entrenched in tradition. But one year after a landmark lawsuit changed the way commissions are negotiated, some upstarts think the time is finally right. "The settlements haven't actually changed the transaction much yet," said Ben Bear, co-founder and CEO of TurboHome, the company that helped the Ballesteros. "But what it has done is educated buyers that hey, high commissions don't really make sense." At the same time, Bear said, new technology makes it possible for companies "to deliver a high level of service that does have a lot of personal touch, at a lower price point." TurboHome, which has been around since 2022, is currently only available in California and Texas. Other companies offering similar services for buyers include ShopProp and Arrivva. The longstanding approach to real estate transactions in America had a commission of roughly 5% to 6% paid by the seller and divided between the agents for the buyer and the seller – a hefty surcharge that some observers believe inflated home sale prices. For the home that Johnny and Jen bought, which cost $679,000, the buyer's agent's commission traditionally could have been $20,000 or more. TurboHome's fee was less than half that – $7,500. And the seller agreed to pay it, so the couple paid nothing and was able to apply the money to their loan. How the real estate commission lawsuits changed consumer attitudes A report released in June by the left-leaning think tank Consumer Policy Center explained how the commission lawsuits have helped erode traditional arrangements. 'By focusing public attention on 5-6 percent commissions through news coverage, the changes persuaded some consumers to question traditional real estate brokerage services,' wrote Stephen Brobeck and Wendy Gilch. More recently, they added, the industry jockeying between Zillow and other listings portals and brokerages has helped focus attention on how real estate information is displayed, which may persuade homeowners to sell their properties in non-traditional ways. Douglas Miller is a long-time attorney and real estate industry gadfly who instigated the first of the commission lawsuits filed starting in 2019 against big brokerages and the National Association of Realtors, one of the largest professional lobby groups in the country. A recent analysis shows that commissions paid to real estate agents have barely budged over the past few years. The new upstarts are not "discount brokers," he said. 'They are 'fair fee brokers,' I think is a better way to put it," Miller said in an interview. "The traditional agents want to label them as, 'You are using somebody who's charging less, you're going to get what you pay for.' I would say no, what you're going to get is an overpaid agent if you use a traditional agent.' One of Miller's biggest bugaboos is that the vast majority of real estate agents do almost no deals on a regular basis. According to a 2024 analysis from Brobeck, half of all agents reported no or only one sale the previous year, while 70% did five or fewer. 'In terms of personnel, the residential real estate industry is clearly a part-time industry,' the report concluded. As Miller sees it, the lower-cost companies that focus on transactions probably have more experience than many agents do. The National Association of Realtors did not respond to a USA TODAY request for comment. When does it make sense to work with a traditional real estate agent? Lisa Gill, an analyst with Consumer Reports, thinks that there are advantages to working with traditional agents. "Real estate is still very much a relationship business," she said. "Particularly in very competitive markets, it can benefit both buyers and sellers to have a representative who's tapped into a network of agents." TurboHome's Bear agrees. There are plenty of types of transactions where a buyer or seller may want the kind of high-touch experience Gill describes. But there are also other advantages to companies like TurboHome, which doesn't require that clients be exclusive to them. That means that if another real estate agent is able to find a property, there's no penalty for walking away and choosing to be represented by that agent. Gill also notes that experienced professionals can bring wisdom and context that go beyond the checklist of transactions involved in a sale. Working without a traditional agent might be akin to 'building a house without hiring a general contractor,' she said. It's likely that many sales can be done without that expertise, but on the rare occasion that things do go wrong it may wind up costing more in time and money to fix. Still, evidence is mounting that for many Americans, the 'bare-bones' approach works perfectly well. Miller, a practicing lawyer, is also a licensed Realtor who facilitates dozens of sales every year, making him one of the Realtor Association's top producers in Minnesota, he says. He charges half the amount a traditional agent would – 1.5% of the transaction or less – on the home's sale price or list price, whichever is cheaper, to avoid the perceived conflict of interest that comes from a sale price being bid up. The 2025 Consumer Policy Center report, meanwhile, focuses on the seller experience, evaluating companies Ideal Agent, Houwzer, Trelora, Simple Showing, and 1% Lists, with a special nod for one called Clever, which had more –and more-experienced – agents on its staff. While consumers using those companies need to do a little extra research, the report says, including being absolutely sure which specific services are offered and evaluating the individual agent that will be involved in the transaction, they conclude that 'low fee brokers do represent a viable alternative for home sellers.' Read next: Should you sell your own home? Why a FSBO may look more tempting This article originally appeared on USA TODAY: Housing market is changing. Is a low-fee real estate agent the answer?
Entrepreneur
25-06-2025
- Business
- Entrepreneur
Starbucks Changes Pricing for Syrups, Powders
In order to make things faster and easier for baristas and potentially cheaper for customers, Starbucks is switching to a flat-fee system for syrups. Beginning Tuesday, in stores in the U.S. and Canada, any combination of sauces and syrups will be a flat fee of 80 cents, whether you ask for one pump or four. Adding syrups to already pre-flavored beverages is free, per Bloomberg. Before the new changes, prices varied depending on flavor, number of pumps, and drinks being purchased. Related: Starbucks Is Hiring In-Store Human Workers After Replacing People With Machines — and Finding It Didn't Work Matcha powder add-ons will now cost $1 per scoop, chai concentrate is now set at 80 cents per serving, and dried fruit is now 50 cents each. Starbucks has been making a slew of changes since Brian Niccol joined as CEO last fall, promising to turn around the company's lagging sales. "We're getting back to Starbucks. We're refocusing on what has always set Starbucks apart — a welcoming coffeehouse where people gather, and where we serve the finest coffee, handcrafted by our skilled baristas," he wrote at the time. "This is our enduring identity. We will innovate from here." The company has since cut items from the menu, implemented a new dress code for baristas, and closed its former "open door" policy. Related: Starbucks Is Hiring a 'Global Content Creator' to Travel, Drink Coffee, and Get Paid Six Figures
Associated Press
21-05-2025
- Business
- Associated Press
Disrupting the Status Quo: How Platinum Realty Became Kansas City's #1 Office and a Midwest Power Brokerage
By doing things differently, Platinum Realty created an innovative brokerage and agent-first environment where agents and their clients win KANSAS CITY, Mo., May 21, 2025 /PRNewswire/ -- Platinum Realty was born by a bold vision, but its unwavering commitment to its agents has defined its success as Kansas City's largest residential real estate office by transaction count. As it celebrates its 20th anniversary milestone, Platinum Realty stands as undeniable proof that the flat-fee agent compensation model not only works — it thrives. Once dismissed by naysayers, this disruptive model has shattered outdated notions by bucking the status quo. In 2005, Platinum Realty pioneered the flat-fee agent compensation model, enabling agents to keep what they earn and meet clients' needs more efficiently than their competitors. It quickly gained a secure foothold in the Midwest. Fast-forward to today: the firm boasts 2,400 agents, 13 offices, operates in five states and seven markets and is a ten-time Inc. 5000 fastest-growing company. United Real Estate President Rick Haase explains how full-service support is possible within the firm's business model. 'Platinum Realty was built on three pillars of success: scale, excellence and efficiency. These powerful drivers have made it a standout performer, laser-focused on equipping agents to win in today's ever-evolving real estate market. Early on, critics claimed the 100% agent compensation model couldn't generate enough scale to sustain operations. We've proven them wrong. By leveraging scale, smart technology development and purchases and by slashing inefficiencies, we've built a model that delivers unmatched value and real results for agents and clients.' Growth continues. A year-over-year transaction growth of 10% and a 13% jump in sales volume reflect the ongoing achievements of its agents, despite the most sluggish real estate market in decades. The Platinum Realty team keeps a laser focus on its comprehensive support system, introducing industry-leading innovations that benefit agents and clients. It has become the firm's hallmark and source of an ever-growing agent base. Platinum's support platform is robust, flexible and designed to give agents everything they need without paying for tools they don't want. From hands-on staff support and cutting-edge marketing to sleek office spaces and a tech-forward approach, it's a turnkey system that fuels success. Platinum Realty Director of Growth and Market Development, Rob Hill, explains how their agent-first approach drives loyalty. 'We do things differently because agents have decided they no longer wish to be treated as employees. That's evident in our growth and retention. They come to Platinum Realty to run a real estate business and enjoy industry-leading technology, systems, tools, training and support without the profit-depleting commission splits and unnecessary fees. Our approach to supporting agents is simple, personal, practical and empowering. Agents come here to build something real — and they stay because they know they are supported and backed every step of the way.' And there's more good news. The National Association of REALTORS® predicts Kansas City to be a top 10 real estate market in 2025. Thanks to its strong affordability and opportunity, Platinum agents are perfectly positioned to seize the moment and surge ahead. About Platinum Realty Founded in 2005, Platinum Realty was conceived as a brokerage unlike any other – the name 'Platinum' was chosen to reflect its quality and rarity. Designed by an agent for agents, Platinum Realty is a ten-time Inc. 5000 fastest-growing private U.S. company and is a member of United Real Estate's national network. It is a market share leader and one of the largest independent residential brokerages in the Midwest with over 2,400 agents in thirteen offices serving five states and seven major markets. Learn more about careers at Platinum Realty. About United Real Estate United Real Estate (United) – a division of United Real Estate Group – was founded with the purpose of offering solutions to real estate brokers and agents in the rapidly changing real estate brokerage industry. United provides the latest training, marketing and technology tools to agents and brokers under a flat-fee, transaction-based agent commission model. By leveraging the company's proprietary cloud-based Bullseye™ Agent & Broker Productivity Platform, United delivers a more profitable outcome for agents and brokers. United Real Estate operates in 35 states with 170 offices and more than 22,000 agents. The company produced over 73,000 transactions and $26.3 billion in sales volume in 2024. Media Contact: April Gonzalez Media & Investor Relations [email protected] 504-237-3500 View original content to download multimedia: SOURCE United Real Estate
Yahoo
17-05-2025
- Entertainment
- Yahoo
Wes Anderson says Gene Hackman was 'furious' about 'Royal Tenenbaums' salary: 'He left without saying goodbye'
Early in his career, Wes Anderson adopted a flat-fee salary system in which his actors were paid the same rate. Gene Hackman was "furious" about getting a low salary for his role in The Royal Tenenbaums. The filmmaker said Hackman was "grumpy" and "left without saying goodbye."Wes Anderson is recalling his rocky relationship with Gene Hackman. The Grand Budapest Hotel director remembered the two-time Oscar winner having significant reservations about getting paid a flat fee for his 2001 film, The Royal Tenenbaums. "Gene was very annoyed about the money," he said in a new interview with U.K. paper The Times. "He was furious. Also, he didn't want to do the film anyway. I talked him into it — I just didn't go away." Anderson explained that he adopted the flat-rate payment model on his previous film, 1998's Rushmore, because Bill Murray offered to take the same salary as the then-unknown 18-year-old actor Jason Schwartzman. "He said he would do the movie and offered to work for the same amount as Jason — the kid," Anderson explained. "He said, 'I'll take what he's taking, but I have to be able to leave for a golf tournament.'" Anderson and his collaborators wanted to bring the same salary model to Tenenbaums. "And then, for the next movie, we just said to the studio, 'Can we do that again?'" he recalled. Hackman was the only member of the Tenenbaums cast — which also included Anjelica Huston, Gwyneth Paltrow, Luke Wilson, Owen Wilson, Ben Stiller, Danny Glover, and Murray — to put up a fight. "Everybody else said yes to the salary, so Gene just went with it — and that just became our way," Anderson said. Anderson previously praised Hackman's performance in the film at a Tenenbaums reunion screening event at the Tribeca Festival in 2021. "I think maybe when he finally settled on the fact that he was really going to have to do the movie, he had to make it worth his while somehow," he said. "He gave us a lot. For that small amount of money, I feel like he gave us everything he had." Luke Wilson, who played one of Hackman's onscreen sons, said the late actor was a constant presence during production. "He had a great thing that he did where he was on set all day," he said at the screening event. "He just sat in his chair between shots. So even if another scene was going on, or if he wasn't in it, he was always right there — which was also intimidating." The filmmaker told the Times that he didn't keep in touch with Hackman, who died in February at age 95, after production concluded. "Not a word," Anderson said of their post-Tenenbaums communication. "In fact, he left without saying goodbye. He was grumpy — we had friction. He didn't enjoy it. I was probably too young and it was annoying to him." Fortunately, Anderson said, Hackman appreciated the movie once he saw the final cut — which he expressed to the director in their final conversation, shortly after the film hit theaters in 2001. "He liked it," Anderson said. "But he told me he didn't understand it when we were shooting." Anderson regrets not making his vision clearer to Hackman. "I wish I'd shown him 10 minutes, early on," he said. "Then, maybe, he would have said, 'Okay, I get it.'"Murray praised Hackman's "really, really good" performance shortly after the actor's death but acknowledged that the Unforgiven star wasn't too keen on Tenenbaums while working on it. "I sympathize with Gene because, to him, Wes Anderson was just a punk kid and Gene's made some of the greatest American movies," Murray said on The Drew Barrymore Show. "So he was a little irritable. But he had to work with children, dogs, [actor] Kumar [Pallana] — who was an absolute mystery to all of us anyway. They put him in very challenging positions to work, and so he just felt a lot of responsibility and kept thinking, 'What am I doing here with these people?'" Murray also said he thinks Hackman came around to the movie eventually. "He was not an ignorant man. He was a bright guy, and when he saw the movie, he had to go, 'Oh s---, I acted like a jerk,'" the Groundhog Day star said. "I'm sure he did, because when you see the movie it's a real piece of work. Wes Anderson makes great movies and so does Gene Hackman, and you put them both in the same movie, what are you going to get? You're going to get a good movie." Read the original article on Entertainment Weekly
