What does it cost to see a home, condo or town-home, what are you paying and what are you responsible for paying for?
When selling real estate, you are paying approximately 8% without discounts. 3 percent for the agent representing you, 3 percent for the agent representing the buyer, then 1 percent for escrow and 1 percent for title.
In the real estate market, everything is negotiable.
Maybe the agent you are interviewing says, “It will cost you 6 percent to sell your home if you list with me.”
You have to break that down as a real estate seller and that very same agent should give you something called a “net sheet”.
The Net Sheet will show you the costs associated with selling residential real estate.
It will have the amount you owe to your lender – minus the costs to see your real estate factored in. The “net amount” is what you will be walking away with after the fee’s are paid.
Typically, the “total commission” quoted, is split with the listing agent side. Which is the real estate agent you are hiring to sell your real estate.
Then the Commission is split with the selling agent side. The selling agent is the one representing the real estate buyer.
Some agents will reduce their commission to a flat fee if they are also representing the buyer, as well as representing you as your listing agent.
The Flat fee is typically more than 1/2 but not a Full Bore Sales Commission. They do this because it’s going to be an “in house” transaction and they are afforded certain discounts to represent both sides of the real estate transaction within a single real estate listing.
Of course, this will vary depending on the real estate office, the agent’s split with their broker and the costs of the other services, pertaining to Escrow and Title Services.
Reductions in commission are part of the real estate negotiation process. While it’s fun bantering back and forth with a sales professional, seeing how low you can go, some are more straight forward.
We give you our commission breakdown right from the start. We know what we are worth and know what we have been able to achieve for our past Real estate sellers. I also don’t like the game of telling you one figure to start, then reducing it when I see an objection.
If someone comes to me and says he will charge me $10.00 for a writing pen, then when he see’s that I’m uncomfortable with that amount, the worst thing he can do is reduce. I want him to tell me the value of the pen and why I should be paying $10.00 for it! Then I can decide if it’s a good investment or a bad one!
When playing in the big leagues of real estate, one agent’s self worth is very different than another’s.
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When it comes to advertising and marketing, you will see we hold a very sharp edge in the publication within the online channels.
During the course of any real estate listing, it’s important to keep the Sellers, those hiring us to sell their home, up to date with any news and events affecting them.
Vacations, we don’t take any.
Business hours, we don’t know what those are. Often we return calls and answer them very late in the day, evening and late at night!
Emails are returned except when we are sleeping and questions are never left unanswered for very long!