Why are you paying 6%?

You save on airline fares. You can buy stocks for just $10. You book hotel rooms, buy books and trade junk from your attic on the Internet. So why are you still paying 6% to sell your home?

According to studies, U.S. home sellers pay about 1.5% more than home sellers in other parts of the industrialized world for the priviledge of having their homes listed by real estate brokers. A listing in the Realtor Multiple Listing Service (MLS) along with a bundle of services from pricing assistance and marketing to contract negotiation and transaction management can take a huge slice out of the home equity pie.

The Internet has brought about a plethora of new business models aimed at reducing the cost to consumers of selling a home. Choosing a discount real estate model is a simple matter of searching the web. Try this experiment: Google "flat fee mls + (your city’s name) " or "discount realtor + (your city’s name)" and you’ll now find hundreds of entries for real estate companies competing for your business by offering lower fees and an "unbundling" of the traditional real estate brokerage offering.

Once a fringe element of the real estate industry, discount real estate has become a part of the mainstream. Discount realtors, flat fee brokers and limited service companies have sprung up all over the country in response to consumers’ clamoring for alternatives to high real estate commissions. The effects have been noticeable. The average commission rate in the U.S. has fallen to about 5%.

So, what are you waiting for? Find a reputable company offering "a la carte" services and you’re on your way to saving thousands of dollars in real estate commissions. That could come in handy in your new home.