When going about selling your home it is always favorable to work with a professional real estate agent. Some people prefer selling their home on their own but this can prove to quite a difficult task and is not every ones cup of tea.
When choosing a realtor, keep in mind that you will have to pay the real estate agent his fees. This fee varies from one realtor to the other. Hence you better do your research before you strike a deal.
Always keep in mind that you the seller will have to pay the realtors fee and not the buyer of your property. In most cases the fee is decided depending upon your final selling price of your house.
The costs you may incur are as follows. You pay 6% to your realtor, 3% to the selling agent and 3% to the buying agent. You are expected to make all the payments and not the buyer of your property.
Your real estate agent may give you an option of negotiating the commission he will be taking. You are most likely not to have this option as realtors like to charge a fixed amount. You also may face inconveniences as not all realtors will reduce their commission to make a sale. But prices may vary as the above mentioned prices are the most followed trends in the market.
Make the best use of your option to negotiate and do not neglect it. In the end you will end up saving a huge sum because of negotiating. Say you sell your house for $300000 at a commission of 6%. If this commission gets reduced to 5% you save $3000.
The flat fee listing service is also a good way to go about selling your house. It is cheaper than paying a 6% commission although here you are on your own without the services of a realtor.
You end up paying the MLS a onetime fee to list your house while using the flat fee listing service.
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