![]() ![]() ![]() (It’s no picnic!) I might be biased, since I’m an agent myself, but great ones earn their keep. Though people certainly have the option of selling (or buying) their house without a real estate agent, agents provide clients a wide range of services, including helping you price your home, marketing it (on the multiple listing service, social media, and other venues), negotiating with home buyers, and ushering the home sale through closing.Īs trained experts, real estate agents can help you fetch top dollar for your house and put out fires-while also alleviating some of the stress that comes with selling a home. How can I do that when I'm sitting on both sides of the table? What does a real estate agent commission cover? After all, clients hire me to represent their best interests. I believe it creates a conflict of interest. However, because it puts them in a sticky position of having to work for both the seller and the buyer, many agents don’t practice dual agency-and some states don’t even allow it. So what happens if an agent represents the buyer and the seller? In that case, the agent becomes a “ dual agent” and gets paid both commissions. However, the commission split varies from one agent to another, with new agents sometimes earning a smaller percentage of the commission than experienced agents who sell more homes or more expensive properties. ![]() Generally, the home seller pays the full commission for the services of both their own listing agent and the buyer's agent (assuming the buyer has one).īuyer's and seller's agents typically split the commission. So if a home sells for $200,000 at a 6% commission, the seller's agent and buyer's agent might split that $12,000, and each receive $6,000. Granted, this may seem like a serious chunk of change, but keep in mind that no one makes off with the whole amount! Plus, real estate agents don't see a dime until a buyer finds a home she loves, the seller accepts the offer, and all parties meet at the closing table. That process can mean weeks or months of work. That exact percentage varies, but the commission is typically 5% to 6% of a home’s final sales price. While there are some real estate agents who will charge a flat fee for their services, most charge a percentage of the sales price of the home once the deal is done. Rather than getting paid hourly or weekly fees, most real estate agents earn money only when a real estate deal goes through. If you hire a real estate agent to help you buy, sell, or rent a house, this professional gets paid through a real estate commission. So how much do you pay, and what for? Is there any wiggle room to negotiate this fee?Īs a real estate agent myself, allow me to tell you firsthand everything you need to know about real estate commissions, from who pays to how much to where that money goes. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |