2% Commission paid by vendor (seller) to Frith Real Estate as Listing Agent
Frith Real Estate sells directly to buyers at no additional commission. OR,
Buyer brings their own agent and the buyer compensates that agent
Traditional Bermuda Real Estate Model
Vendor pays 5% commission to the Listing Agent
If the Listing Agent finds the buyers the Broker retains the entire 5% commission
If another Agent finds the buyer, the Listing Agent and Selling Agent (who introduces the buyer) split the commission 50/50
What is wrong with the traditional model?
It's too expensive. For example, on a $2 million property, the vendor would pay $100,000. Frith Real Estate would charge $40,000 (60% less)
The agent representing the buyer is paid by the seller, and therefore that agent legally represents the seller, not the buyer
The listing broker has an outsize incentive to sell the property to a buyer who is also using their agency's service, which creates conflicts and often is not in the best interest of the vendor.
Frith Real Estate Bermuda. Impeccable Service. 2% Commission.
