Leave a Message

Thank you for your message. We will be in touch with you shortly.

Corcoran alumni pioneer SIMPLE fee structure

Corcoran alumni pioneer SIMPLE fee structure
Two former Corcoran brokers have launched their own firm with a hybrid fee structure they are betting will have sellers knocking down their door.
 
Louisa Gillen and Chris Palminteri said their SIMPLE Real Estate Co. provides “a modern and honest approach to the sales process.”
 
SIMPLE’s fee structure combines a capped $50,000 fee to SIMPLE (sellside) and a 2.5 percent sales commission to the buyer’s agent (buyside). In the event there is no buyer’s agent, the total commission will not exceed $50,000.
 
The brokers said the fee structure could save sellers up to $190,000 when selling a $4 million home.
 
Their website explains, “With a traditional brokerage, the cost of selling $4 million home would be $240,000 with or without a buyer’s agent. With SIMPLE, it would be $150,000 if there is a buyer’s agent and $50,000 if there is no buyer’s agent.”
 
“We looked at the big brokerage firm models, whereby sellers are paying unnecessarily high commission fees, and agreed there needed to be a more modern approach. This is what brought us to launch SIMPLE,” said Gillen,. “Sellers deserve an approach that is transparent and financially smart, and one that provides unrivaled expertise, targeted marketing, expert negotiating and personal attention during every step of the sales process to create maximum value.”
 
In a press release announcing their new firm, Gillen and Palminteri said they had their “Aha” moment while being recruited by Compass almost three years ago. “They realized while Compass was newer and shinier, it was not different; and like all big brokerages, it still operated under the traditional, agent centric model with the standard six percent commission structure.
 
“The standard commission fee used to make sense due to the high cost of marketing, but today third-party real estate websites such as StreetEasy provide worldwide exposure for essentially no cost. Ultimately, the brokerage industry does not want this secret exposed since it will significantly eat into profits. SIMPLE is the solution and is designed to protect sellers from being gouged by big brokerages.”
 
Read the article here: https://rew-online.com/corcoran-alumni-pioneer-SIMPLE-fee-structure/

Recent Blog Posts

Stay up to date on the latest real estate trends.

Just How Good Was October's Market Activity?

October 2024 Market Report

Does New York Real Estate Prove Slow and Steady Wins the Race?

Q3-2024 Manhattan Market Update

August 2024 Manhattan Market Activity

Anyone else feeling a shift in the market?

Is Manhattan Real Estate Collapsing?
Simplifying Real Estate | An Interview with Louisa M. Gillen, Co-Founder, The SIMPLE Real Estate Co.

EDITORS’ NOTE Before launch- ing SIMPLE, Louisa Gillen and Chris Palminteri spent 16 years as a top producing team at The Corcoran Group, closing more than 250 trans- … Read more
Industry Veterans Launch The SIMPLE Real Estate Co., the First Residential Brokerage Firm Designed Specifically for Sellers

Real estate industry veterans Louisa Gillen and Chris Palminteri, announced the launch of The SIMPLE Real Estate Co. (SIMPLE), the first residential real estate broker… Read more
Expert Interview with an Innovative Real Estate Duo: Louisa Gillen and Chris Palminteri

After spending nearly 2 decades as a top producing team for The Corcoran Group, with more than 250 transactions totaling over $350 million, wonder-duo Louisa Gillen an… Read more
Louisa Gillen, Co-Founder and Principal Broker, The SIMPLE Real Estate Co.

Louisa Gillen is the Co-Founder and Principal Broker at The SIMPLE Real Estate Co. (“SIMPLE”), the first residential real estate brokerage firm designed specifically f… Read more
New NYC Brokerage Offers Hybrid Fee Structure

Industry Veterans Launch The SIMPLE Real Estate Co., The First Residential Brokerage Firm Designed Specifically for Sellers. When real estate industry veterans Louisa … Read more
View All

Explore How To

+

Contact Us
Get in Touch
Contact Details

SIMPLE Real Estate

(917) 810-2123

[email protected]



300 E. 56th St., Suite 25D
New York, NY 10022