Frequently Asked Questions
1. What is Territory Real
Estate?
2. How Does Territory Real Estate Compare To a Traditional
Brokerage?
3. How Does Territory Real Estate Compare To a Discount
Brokerage?
4. How Does Territory Get Paid?
5. Are Rebates Legal?
6. When Will I Receive My Rebate?
7. Do I Have To Sign a Contract?
8. Am I Required To Use Certain Mortgage Companies, Home
Inspectors, or
Attorneys?
9. What Are the Stages In a Real Estate Transaction?
10. Who is My Guide and What Motivates Them to Help Me
Get the Lowest
Price Possible?
11. Can Territory Real Estate help me sell my property?
12. Can I See MLS Listings on This Website?
1.What is Territory Real
Estate?
Territory
Real Estate is a full-service real estate brokerage exclusively
representing Massachusetts home-buyers. We represent buyers in
residential real estate purchases, and instead of keeping our
cooperative commission, we return it to you, less our $4,995 flat fee.
We don't require payment up-front.
2. How Does Territory Compare
To a Traditional Brokerage?
We charge less than other brokerages
--Territory
charges less than a traditional brokerage. We charge the same flat fee
of $4995 for every transaction. Traditional brokerages charge
2-3% of
the purchase price (on average $15,000*) so fees skyrocket when you
purchase a more expensive property.
We're obsessed with customer satisfaction
--Territory
provides better service than a traditional brokerage. Territory Guides
receive salaries while traditional agents work on commission. This
rewards our Guides for satisfying clients rather than for pressuring
them into quick transactions. Our focus on customer satisfaction,
rather than speed, means better service every time.
We won't pressure you into viewing homes or making a purchase
--TerritoryRE.com
is not a lead source. Your information won’t be passed on for agents to
farm and cultivate into a transaction. Our low-pressure approach allows
you to conduct your home search online and to complete your purchase at
your own pace.
We only represent buyers
--Territory
exclusively represents home-buyers. With no properties to sell,
we're
never in tempted to promote our own listings. As a result, you'll know
that the properties you're viewing are available to you for no other
reason than they fit your search criteria.
* figures based on a $500,000 purchase price and a 3.0% buy-side
commission
3. How Does Territory Compare To a Discount Brokerage?
Territory
is a full-service real estate brokerage that charges the same low flat
fee for every transaction. Our price is based on the average real
estate commission nationwide. There is nothing discounted about our
service, we just don’t increase our price when there are additional
zeros on a purchase contract.
Discount brokerages reduce their
price but still charge a fee calculated as a % of a property’s value.
Often a discount brokerages reduction in price is accompanied by a
reduction in service.
Territory also exclusively represents
home-buyers. Unlike discount brokerages we never represent
sellers and
therefore never has any incentive to promote one listing over another.
4. How Does Territory Get Paid?
Territory
is a full-service real estate brokerage that charges the same low flat
fee for every transaction. Our price is based on the average real
estate commission nationwide. There is nothing discounted about our
service, we just don’t increase our price when there are additional
zeros on a purchase contract.
Discount brokerages reduce their
price but still charge a fee calculated as a % of a property’s value.
Often a discount brokerages reduction in price is accompanied by a
reduction in service.
Territory also exclusively represents
home-buyers. Unlike discount brokerages we never represent
sellers and
therefore never has any incentive to promote one listing over another.
5. Are Rebates Legal?
Yes. In Massachusetts it is legal to rebate a real estate commission to
a principal in the transaction.
Only
11 states—Alaska, Louisiana, Mississippi, Missouri, New Jersey, North
Dakota, Oklahoma, Oregon, South Carolina, Tennessee, and West
Virginia—prohibit rebates on real estate commissions.
6. When Will I Receive My Rebate?
Territory will issue a rebate within 14 days of receiving a commission.
Territory
doesn’t require any payment up-front. We collect our fee at or
immediately following a closing. All of the properties you find
on the
TerritoryRE.com include an offer of compensation (also known as
“commission???) from the listing brokerage or seller so instead of paying
out of pocket our clients typically authorize us to accept this
compensation.
If for any reason Territory
is unable to collect a commission we will not issue a rebate See Terms
of Use.
7. Do I Have To Sign a Contract?
No.
In Massachusetts, only a verbal agreement is required in order to
create an agency relationship so this is all that Territory
requires.
We do however have an exclusive buyer representation contract available
for those who prefer a written agreement.
8. Am I Required To Use Certain Mortgage
Companies, Home Inspectors, or Attorneys?
No.
You may work with the mortgage company, home inspector, or attorney of
your choice. However, we are pleased to make recommendations at
your
request.
Only 11 states—Alaska, Louisiana, Mississippi, Missouri, New Jersey,
North Dakota, Oklahoma, Oregon, South Carolina, Tennessee, and West
Virginia—prohibit rebates on real estate commissions.
9. What Are the Stages In a Real Estate Transaction?
Each real estate transaction differs, but an average transaction looks
like this:
Step 1: You find the right property
Step 2: You make an offer
Step 3: You conduct a home inspection
Step 4: You sign a purchase & sale contract
Step 5: The bank issues your mortgage
Step 6: You close on the property
10. Who is My Guide and What Motivates Them to Help
Me Get the Lowest Price Possible?
Territory
Guides are salaried employees of Territory Real Estate, Every Guide is
a real estate agent licensed in the State of Massachusetts who is
assigned geographically to the areas they know best.
Territory Guides will offer advice and assistance on all
stages of the transaction process. They will accompany you on property
tours. They will conduct data-driven evaluations of local market
conditions and individual property values. They will make
recommendations for home inspectors, attorneys and mortgage broker.
They will offer advice on making offers below asking price, and on the
inclusion (or exclusion) of contingencies. To learn more about our
Territory Guides, click here.
11. Can Territory Help Me Sell a Property?
No. Territory Real Estate is an
exclusive buyer agency so we never represent sellers. However, at your
request we are pleased to make recommendations for listing agents.
12. Can I See MLS
Listings on This Website?
Territory currently provides access
to every real estate listing available from the MLSPIN MLS
listing service.
