GLOSSARY — REAL ESTATE TERMS

Flat Fee Real Estate Agent

A flat fee real estate agent charges a fixed, predetermined dollar amount for representing a buyer or seller, rather than a percentage of the home's sale price -- meaning the fee stays the same whether the home sells for $500,000 or $2,000,000.

How a flat fee agent differs from a traditional agent

A traditional agent earns a percentage of the sale price, usually 2.5% to 3% per side in California, which means the fee climbs as the home price climbs even though the work involved is often similar. A flat fee real estate agent instead charges one fixed amount regardless of price, which is often described using several overlapping terms -- flat fee agent, discount real estate agent, or low commission agent all point to the same underlying idea: representation for a fixed cost rather than a percentage.

Flat fee on the buyer side vs. the seller side

On the buyer side, a flat fee buyer's agent still negotiates on your behalf, writes and manages your offer, and coordinates your transaction through closing -- when the seller offers buyer-agent compensation above the flat fee, the difference is returned to the buyer as a closing cost credit, sometimes called a commission rebate.

On the seller side, a flat fee listing agent provides full-service marketing, pricing strategy, and negotiation -- distinct from a flat fee MLS-only service, which typically limits support to placing the listing on the MLS and leaves negotiation and paperwork to the seller.

Roman's flat fee structure

Roman charges $7,250 for purchases and listings under $1.5M, and $9,250 at or above $1.5M -- see the full pricing breakdown and how the savings work in practice on the flat fee vs. traditional agent comparison.

A worked example

On an $900,000 Los Angeles purchase with 2.5% seller-offered buyer-agent compensation, a traditional agent earns $22,500. Roman's flat fee on that price is $7,250, which creates roughly $15,250 that can be applied as a closing cost credit on the settlement statement -- subject to seller agreement and lender approval.

WHAT TO ASK BEFORE HIRING A FLAT FEE AGENT

Confirm whether the fee is full-service or MLS-only entry-level representation
Ask what your closing cost credit would be at your specific target price
Compare total cost against a traditional 2.5–3% agent for your price range
Get the fee structure written into your buyer representation agreement

Is a flat fee agent the same as a discount real estate agent?

Yes, generally -- 'flat fee agent,' 'discount real estate agent,' and 'low commission agent' are different names buyers and sellers use for the same underlying model: representation for a fixed cost instead of a percentage of the sale price. The specific fee structure and level of service still varies by agent, so it's worth confirming what's included.

Does a flat fee agent provide less service than a traditional agent?

Not necessarily. A full-service flat fee agent handles the same negotiation, paperwork, and closing coordination as a traditional agent. The distinction to watch for is between full-service flat fee representation and flat fee MLS-only listing services, which intentionally offer limited support.

How is a flat fee different from a commission rebate?

A flat fee is what you pay your agent. A commission rebate or closing cost credit is money returned to you when the compensation offered exceeds that flat fee. Many flat fee arrangements, including Roman's, involve both at once.