The Real Deal Miami

Startup breaks mold with flat fees, salaries

Brokers forgo traditional 6 percent commission at ByOwner.com

October 20, 2014 04:30PM

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Palm Beach (Credit: Michael Kagdis)

Palm Beach (Credit: Michael Kagdis)

Defying the way brokerages are typically run, a new Palm Beach County firm is charging a flat fee to sell homes.

In addition to bypassing the standard 6 percent commission, agents will also receive a steady salary, as opposed to a percentage of the sale of the home.

The company, a start-up called ByOwner.com, appears to be part of a wave of new firms challenging how real estate is sold. [Palm Beach Post] — Jennifer Karp

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