When you choose an agent to support you with your property sale, you are trusting them with one of the biggest and most important transactions there is – both emotionally and financially. You want to be confident that they have the experience and expertise to get the job done, and that they are going to work hard on your behalf to secure the best possible results.
Real estate agent commission on selling a house can vary dramatically, so you need to know what you’re getting for your money. It’s crucial that you don’t just choose the agent with the lowest real estate commission fee, without doing your research – you could end up paying a high price for this in the long run.
The standard real estate sales commission for selling property is the cut that the agent takes from the percentage of the sale price. This is agreed up front and is the agent’s fee for their services in helping you sell your home. There may be additional fees to pay for particular marketing and advertising services, on top of the agent’s commission rate, and again these should be clearly stated up front.
The bottom line is that you should make sure that you understand exactly what your real estate agent’s commission fee includes, and what you will be expected to pay on top of that, before you sign an agreement and enlist their services to sell your home. That way, you can budget accordingly and won’t get any nasty surprises. A good and trustworthy agent will always be happy to discuss the details of their commission with you.
There are several different approaches to real estate agent commission, including a flat fee commission, a tiered commission, and a fixed-percentage commision. When you have a clear idea of how each method works, you can make an informed choice about which type of commission best fits you and your situation.
A tiered commission is proportional to the final sale price of the property. It increases on a sliding scale so it can work as an added incentive for agents to achieve the best possible price.
Tiered commissions can be negotiated in advance, before you sign an agreement with your agent.
Some real estate agent commission is charged as a flat fee, regardless of how much the property sells for. This is an appealing option for many sellers because you know exactly what you will be paying. There is no standard real estate commission rate so this fee can also be negotiated.
Many agents charge commission as a percentage of the final sale price. This should be agreed up front, along with an estimate for the value of your property, so you have a good idea of what to expect. This fee structure can be beneficial for both parties as the agent is motivated to get the best possible price.
When you enlist the help of a real estate agent, you are partnering with the experts and benefitting from their experience, reputation and specialist skills. The right agent will bring invaluable insights into the local market, as well as giving you access to their contacts and databases of active buyers. They will be able to plan a strategic campaign for marketing and selling your property, using the most effective channels and techniques.
The amount that you pay in real estate agent commission will also get you expert advice about repairs, improvement and styling that could make all the difference to the sale of your home.
At Calibre, we offer industry experience and local market insights, with a personal and tailored approach. We are known for our transparency and integrity, and would be happy to discuss our real estate agent fees and structure in more detail so that you know where you stand.
Quality advertising and marketing drives more buyers to your property. Find out more about what you can expect to pay for real estate advertising that gets results.
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