There is no difference in the type of professional real estate services you will be offered between one firm and another. All real estate agents are in the business of helping homebuyers and sellers in the real estate process. However, at Real Estate By The Hour, our business model is different in that we charge an hourly rate for our services, allowing homebuyers to have more control over the process and to ultimately be financially rewarded at the time of closing.

Our model is very simple. If the total dollar amount of hours billed is less than the seller-side commission (typically 2.5-3%), then homebuyers will receive payment for the difference at closing. In most cases, the difference is in the
thousands or tens of thousands of dollars that homebuyers will receive at closing but will vary depending on the number of hours spent with your agent in the search of a home, the purchase price (PP) of your home, and the resulting commission.

Below is an example:

$300,000 PP @ 3% ($9,000.00) commission – $3600.00 in billed hours = $5,400 to homebuyer

As a note, there is no correlation between the purchase price and the number of hours billed. Generally, the higher the price of the home, the higher the rebate/payment received at closing. The lower the price of a home, the lower the rebate/payment received at closing.

Homebuyers typically receive payment in the form of a check, prepaid closing costs or the buydown of an interest rate (points) if securing a mortgage. A combination of any of the three can also be used.

Lender approval may be required for receiving all or some of the payment in the form of a check at closing. It is highly recommended that you check with your lender so that they may advise you on any options and/or restrictions within the terms of your mortgage.

Our hourly rate varies depending on your market. Check with a Real Estate By The Hour agent in your area for current hourly rates.

No, Real Estate By The Hour does not take an upfront retainer for our real estate services.

Real Estate By The Hour does not send out monthly invoices for home buying activity so there is no initial out-of-pocket expense.  All homebuyers receive access to an online portal that provides detailed and updated billing information on hours charged to date.  Depending upon your home buying status, an invoice may be sent out for payment after 120 days. Talk to a Real Estate By The Hour agent for more details.

Real Estate By The Hour's business model gives the homebuyer complete control over the home buying process. With MLS listings being public and accessible online, it has never been easier to find homes of interest.

Therefore, in order to minimize the hourly time charged, we encourage homebuyers to do their own property searches while working with a Real Estate By The Hour agent.  This helps expedite the process of home showings and ultimately puts more money in your pocket at closing.

Yes, whether you're busy and just don't have the time to do property searches or perhaps you're new to the area and would rather a professional real estate agent do it for you, a Real Estate By The Hour agent will always be available to help. 

No, our hourly service is for homebuyers only.  For real estate listings, we offer a few different options to suit sellers needs.  Contact a Real Estate By The Hour agent for details.