Meet Sold with Sage's Founder and CEO - Joel Nelson
Updated: Mar 22, 2022
For those who are wondering what is Sold With Sage (SoldwithSage.com) and who is the Founder and CEO - this blog post is for you. This post will introduce you to Sage's founder and share his vision in starting a business to disrupt the traditional real estate commission-based system and provide home sellers immense value with thousands in savings via Sage's effective home selling service!
Joel Nelson, the Founder and CEO of SoldwithSage.com, is originally an Electrical Engineer, by trade, who grew up in Fort Collins, CO most of his life and has lived in Denver, CO for the last 10 years . He and his family have seen the benefit in selling houses both through Realtors and through For Sale By Owner (FSBO) methods over the years. In starting Sage, Joel wanted to bring together the benefits of both systems with a successful home selling system that caters to both types of home sellers at the end of the day.
For Sale By Owners (FSBOs) typically sell houses themselves because they see the value in the huge savings that come with selling a house themselves. However, may FSBOs often lack the tools to market and expose their house to the largest number of people without an MLS Listing and a professional to guide them throughout the entire process. Contrarily, those who sell with realtors see the benefit of getting their house on the MLS and the exposure that brings while also having a professional aid them in the process of selling their house. That being said, such realtor-based methods do not allow these sellers the opportunity of the savings that FSBOs have in selling their homes. To put numbers in front of you, the average home seller pays $33,000 in commissions to real estate agents at closing. That is a huge chunk of your home's equity that is taken out of your pocket at closing.
For this reason, Joel felt compelled to create a system that helped sellers to list, market, and price their houses well with a dedicated listing agent, MLS listing, and professional photos, while saving sellers a huge amounts of money. Thus, he formed Sage with the home seller's best interest in mind and he has partnered with various services providers to provide a great flat fee MLS listing service similar to that of what a traditional broker would provide, while helping save the average seller over $15,000.
How does Sage save seller's so much money? Sold With Sage employs two savings vehicles - a highly discounted flat fee listing package, and through empowering sellers to set a custom Buyer's Agent Commissions (BAC).
First, Sage provides its listing services for a flat fee of $2,950 rather than the traditional 3.0% listing commission methods. The average seller saves around $12,000 on listing costs alone with Sage, when compared to the traditional listing commission-based system.
Secondly, Sage helps seller's Sage save extra money by giving them the control to set their Buyer's Agent Commission (BAC). Under the traditional commission methods, the BAC is negotiated between the listing agent and the buyer's agent and they split 6% between the two of them. The standard BAC is typically 3.0%, and for every 0.5% drop in commission, the average seller saves an additional $3,000. Most buyer's agents put together a standard contract when a buyer puts an offer on a house and for the same amount of work from one house to the next, as house prices have grown, the amount of money they make as a listing or buyer's agent has grown astronomically. Additionally, with the internet and major real estate websites advertising houses listed on the MLS, buyers now present houses that they would like to see to their buyer's agents rather than vise versa and so you can sell now your house with a lesser Buyer's agent commission than you could under traditional real estate listing methods as the buyers are the major drivers in whether or not they buy a house and the seller can reduce his/her BAC with Sage. Thus, with Sage you have control of your savings via your b