SEATTLE, Jan. 12, 2016 /PRNewswire/ -- Since launching late 2013, hybrid real estate brokerage Quill Realty has been at the vanguard of change in real estate. Unlike traditional firms, Quill has a modern business structure that allows it to charge less yet provide superior service. Quill agents are salaried and don't work for a commission, so they are more efficient and don't pressure their clients to close. In addition, Quill and its clients enter into fee agreements: Quill promises to deliver high quality real estate broker services, and in exchange its clients agree to pay Quill a fair fee. For buyers, this is unique in the industry and solves the problems created by the age-old seller-paid commission.
Quill differs from other firms in another way. Founded by an attorney, Quill is built on the principle that a lawyer provides genuine value to home buyers and sellers. It is, after all, a legal transaction. So the Quill managing broker, who supervises Quill agents, is also a licensed attorney.
In addition, every Quill client has the chance to retain their own Quill-affiliated attorney at the beginning of a transaction for a small additional fee (.5% of the sale price). These clients get the security and peace of mind that only an attorney can provide in a complicated transaction worth hundreds of thousands of dollars and with potential significant liability after closing.
If a client foregoes an attorney and an issue arises that requires legal counsel, the client is referred to a Quill-affiliated attorney who can assist on short notice. The fee paid the attorney is deducted from the fee owed Quill at closing, so the client does not incur any additional costs.
In July of 2015, Quill evolved further by withdrawing from the Northwest Multiple Listing Service. As the first and only non-MLS real estate firm, Quill is the only brokerage in Greater Seattle that can list and sell a home without requiring the seller to pay a buyer's agent's commission. Known as the "selling commission" in the industry (even though it is paid to the buyer's agent), this commission is almost always about 3% of the sale price.
Through 2015, Quill shows strong growth. Quill handled $2.75 million of volume in 2014 and $9.725 million in 2015, for growth of 253% in its second full year. Quill charges buyers a 1% fee (1.5% including an attorney) and sellers a 2% fee (2.5% including an attorney). With its modern approach, close relationship with attorneys, and being uniquely able to sell houses without paying a buyer's agent's commission, Quill is well positioned for further solid growth in 2016.
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SOURCE Quill Realty