realestate

Local Real Estate Startup Challenges Traditional Industry Norms

RealtyPeople offers full-service representation for a flat fee of $500 + 1% commission.

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ealtyPeople is revolutionizing residential real estate brokerage with its value-oriented service offering. Founded by Michael Gorman, a former senior executive at Long & Foster and one of Northern Virginia's top agents, RealtyPeople provides full-service representation to buyers and sellers for just $500 plus 1% of the home's sales price.

    This fee structure is significantly lower than the prevailing commission rates of around 3%, putting more money in clients' pockets. Gorman attributes his company's success to volume, as his agents complete multiple transactions each month, earning more than most conventional real estate agents who only handle a few deals per year.

    RealtyPeople isn't competing with larger brokerages; instead, it targets buyers and sellers seeking lower fees or looking to maximize their proceeds without sacrificing representation. For those who value strong personal relationships and neighborhood expertise, traditional agents may still be the best choice. However, for others, RealtyPeople offers a compelling alternative. Visit www.realtypeople.com to learn more about the company's approach and pricing.

Real estate startup disrupts traditional industry norms in local market.