Will the discount on your commission affect your level of service?
Absolutely not! We are a full service group and our goal is to deliver the best service in the industry.
How can you afford to discount your fees?
We are an independent agency and therefore we are able to control our expenses. We are not required to run expensive ads or support a large corporate headquarters, with many layers of management, who expect a return on their investment.
Some Real Estate Agents have stated they only show their own listings to their buyers. Is this your practice too?
That is not our practice. If you hear of an agent who is doing this, you should avoid that realtor/agency. That agent is putting their self-interest in front of their client’s best interest.
Since you offer a discount on your commission, won’t this discourage other agents from showing homes that are listed with your company?
The discount only applies to the Hinsdale One listing agent. We still pay a two and half percent commission, to the buyer’s agent. The buyer’s agent’s incentives are not impacted by our business model.
What geographical areas does Hinsdale One serve?
To provide the absolute best service in the industry, we focus 100 percent of our attention on the near-western suburbs of Hinsdale, Burr Ridge, LaGrange, Western Springs and Clarendon Hills.
What did you do before starting Hinsdale One?
I spent over fifteen years in the residential mortgage industry and have dealt with nearly 400 purchase transactions. I can safely say I have seen it all.
Why do you charge a fee upfront for your listings?
We require our customers to pay the initial fee for professional photos and digital mapping of the property. We use the photos and diagrams to market the house, but they belong to the customer to use as they see fit.
.
Can I supply you with my own photos and not pay this fee?
No, We believe that the photography should be left to the professionals.
What methods of advertisement will you use for your listings?
Listings will be featured with the major real estate search engines and companies such as, Redfin, Realter.com, and Zillow. We don’t spend money using your property to advertise our agency through local publications and direct mailings. That’s a good way to market the realtor, but it does not sell your home.
What prompted you to come up with these different compensation options?
I have worked in the real estate business on the mortgage lending side for a very long time, and I strongly believe the financial incentives are out of whack. The Freakonomics guys once famously asked: “Does your real estate agent have your best interest in mind?” (video link here). Our model makes sure we do. Our model truly aligns the economic incentives of the seller with the listing agent to get the best value for our service.
Is it legal for an agent to give back a portion of his or her commission?
Yes, providing a discount to you is perfectly legal. Illinois law prohibits real estate agents from paying money to other parties for referrals, but there no law against refunding money to the principal in the transaction.
Some mortgage lenders will not allow down payment money to come from outside sources. Is this true?
Yes, in some scenarios this is true. However, the refund you receive from Hinsdale One will be paid out after closing so these funds cannot be used for down payment anyway and will not be included on the settlement statement.
Absolutely not! We are a full service group and our goal is to deliver the best service in the industry.
How can you afford to discount your fees?
We are an independent agency and therefore we are able to control our expenses. We are not required to run expensive ads or support a large corporate headquarters, with many layers of management, who expect a return on their investment.
Some Real Estate Agents have stated they only show their own listings to their buyers. Is this your practice too?
That is not our practice. If you hear of an agent who is doing this, you should avoid that realtor/agency. That agent is putting their self-interest in front of their client’s best interest.
Since you offer a discount on your commission, won’t this discourage other agents from showing homes that are listed with your company?
The discount only applies to the Hinsdale One listing agent. We still pay a two and half percent commission, to the buyer’s agent. The buyer’s agent’s incentives are not impacted by our business model.
What geographical areas does Hinsdale One serve?
To provide the absolute best service in the industry, we focus 100 percent of our attention on the near-western suburbs of Hinsdale, Burr Ridge, LaGrange, Western Springs and Clarendon Hills.
What did you do before starting Hinsdale One?
I spent over fifteen years in the residential mortgage industry and have dealt with nearly 400 purchase transactions. I can safely say I have seen it all.
Why do you charge a fee upfront for your listings?
We require our customers to pay the initial fee for professional photos and digital mapping of the property. We use the photos and diagrams to market the house, but they belong to the customer to use as they see fit.
.
Can I supply you with my own photos and not pay this fee?
No, We believe that the photography should be left to the professionals.
What methods of advertisement will you use for your listings?
Listings will be featured with the major real estate search engines and companies such as, Redfin, Realter.com, and Zillow. We don’t spend money using your property to advertise our agency through local publications and direct mailings. That’s a good way to market the realtor, but it does not sell your home.
What prompted you to come up with these different compensation options?
I have worked in the real estate business on the mortgage lending side for a very long time, and I strongly believe the financial incentives are out of whack. The Freakonomics guys once famously asked: “Does your real estate agent have your best interest in mind?” (video link here). Our model makes sure we do. Our model truly aligns the economic incentives of the seller with the listing agent to get the best value for our service.
Is it legal for an agent to give back a portion of his or her commission?
Yes, providing a discount to you is perfectly legal. Illinois law prohibits real estate agents from paying money to other parties for referrals, but there no law against refunding money to the principal in the transaction.
Some mortgage lenders will not allow down payment money to come from outside sources. Is this true?
Yes, in some scenarios this is true. However, the refund you receive from Hinsdale One will be paid out after closing so these funds cannot be used for down payment anyway and will not be included on the settlement statement.