Owning a house and deciding to sell it is a huge life decision. You may have already put a lot of time and money into your place by fixing it up and making it your own. So, when you finally decide to sell, you want to get the most out of it. After all, your home is likely your biggest asset.
Getting a real estate agent is one of the first things you’ll have to do when selling your house. However, you may have heard that they charge commissions for their service. Depending on your state, real estate commissions can vary. Read on if you want to learn more about negotiating prices with a real estate agent commission.
FAQs About The Real Estate Agent’s Commissions
What Is A Typical Commission?
Real estate agent commissions are frequently a percentage of the home’s eventual sales price. For example, if the commission on a $400,000 house is 6%, then any real estate agents participating (both buyer-side and seller-side) would receive $24,000 collectively. If an agent is instead selling land, the commission is usually slightly higher than it would be for a house because land takes longer to sell and involves more marketing costs.
Although many believe there is a set percentage for real estate agent commissions, this could not be further from the truth. There is no standard price because if there were, it would be illegal in most industries. After all, it’d be price-fixing.
Who Pays A Real Estate Agent’s Commission?
Well, the homeowner is the one responsible for paying the real estate agent their commission. This is clearly stated in most listing agreements. The commission is typically paid out of the proceeds from the sale of the home, and then the listing agent pays a portion to the buyer’s agent. The home buyer doesn’t pay any fee.
Are Commissions Negotiable?
By law, commissions are 100% negotiable. You, as the homeowner, have all the power when it comes to negotiating real estate agent commissions. You can try to negotiate a lower commission with the real estate agent, but keep in mind that they may be less likely to work hard on your behalf if they’re getting paid less.
The Ultimate Solution To Avoid Paying Commissions
If you think there are better choices than negotiating, there’s always another solution. Cash home buyers are investors who buy houses for cash. This means that you won’t have to go through the hassle of listing your home, and you don’t have to pay any real estate agent commissions.
They buy houses in their as-is condition, so you won’t have to make expensive repairs or renovations. This is ideal if you’re looking to sell your house fast and for a fair price.
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Are you searching for “sell my house fast”? Then we can help you. Plan B Homebuyers is a professional company that provides reliable and efficient real estate solutions. We know how the industry works, and we’re here to help homeowners who need to sell their houses fast.
We have a team of experts ready to offer you a cash offer for your property. We close fast and don’t charge any fees or commissions. Contact us today to learn more about our service!