What am I paying realtor fees for when buying a home? This is probably the most commonly asked question most realtors get. So let’s dissect fees a little so you understand what you are paying for once you sell your home.
When you are buying a home there are no costs. Its 100% paid by the seller. The seller has to pay the listing agent, then the listing agent pays half to the buyers agent. Normally, it is a 55/45 split but it varies depending on the listing.
Can you go without using a realtor and save yourself the fees when buying a home? Even if you’re a savvy property investor or a contractor and you have knowledge of the home buying process, what to look for, what’s a good deal/bad deal, it is always a good idea to involve a realtor. A realtor can offer a variety of things but most importantly he / she provides peace of mind. Peace of mind in getting a second pair of eyes on all the documentation you are signing and over the whole process.
For sellers there is no industry set commission charged by a Realtor. However, the most common commission you will see is 7% on the first $100,000 and 2.5% on the remaining balance. Again, keep in mind about half of that is shared with the buyers agent. Included in this price are a variety of services such as performing open houses, listing and promoting the property, reaching out to their network and a whole host of other services such as:
- Verifying measurements
- Photographing property
- Implementing my No BS Marketing program
- Negotiating for you to receive the highest sale price
- Providing a monthly showing activity report
- Alerting all local REALTORS (R)
- Arranging MLS (R) and Office Realtor (R) Tours
To learn more about the services I can offer you, get in touch and we can tailor your fees for your particular needs.