Save More on Commission When Selling Your Home
When selling your home, you want the process to go as smoothly as possible with the help of a trusted team to guide you. Naturally, you’ll want to get the most value for your property, too, for future investments or home purchases. Like purchasing a home, selling your home will include various fees. Most sales are completed with the assistance of a real estate agent or broker. These agents make their money by earning commission on each sale and only get paid once a home has sold. This commission is paid by the seller during closing. Also known as the broker fee, the commission covers the work that the agent does during the selling process, such as marketing the home, negotiating with potential buyers, attending inspections and appraisals, closing the sale, and more. In recent years, the average commission has remained between 5-6% and is typically split between the buyer’s agent and the seller’s agent for their various services. In order to maximize your profits when selling, then, avoid paying too much for these fees. For an idea of how much you can save, check out the following chart:
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