Buying and selling real estate is one of the biggest financial transactions most

people will make. And although it’s possible to buy or sell a home without a real

estate agent, the vast majority of buyers and sellers work with an agent to help

them find, evaluate, and purchase a property or negotiate a sale. But how do the

agents on both sides of the transaction get paid? How much do they charge, and are

there ways to save on their fees?

In most cases, the seller pays the realtor commission for both the buyer and seller’s

agent. This fee is typically around 6% of the final home price. However, there are a

few different ways that the commission can be reduced, which is good news for both

buyers and sellers.

A buyer can ask their agent to negotiate a lower commission. This may not be an

option with all agents, but it’s worth trying. Buyers can also shop for agents who

offer a rebate to the buyer, which is essentially a discount on the buyer’s agent fee.

However, be wary of agents who try to pressure you into signing the listing

agreement during your first meeting. This can be a sign that they’re more interested

in their commission than their clients’ best interests.

The closing process is when the sales transaction is finalized and closed. At the end

of the closing, a third party — typically an escrow or title company — carries out the

closing costs and issues the check for the agent’s commission. In addition to the

agent’s fee, the escrow company will also receive their fee for their services. Also read: https://www.simplesalebuyers.com/sell-your-house-fast-lakeland-fl/

When interviewing potential real estate agents, make sure they provide you with a

list of references from past customers. This is a great way to see how the agent has

performed in the past and what kind of experience you can expect. It’s also a good

idea to contact those references and ask about their experience with the agent.

Another way to save on real estate agents’ fees is to hire an agent who works with a

team. Having an efficient team of real estate professionals can help them stay on

top of everything and keep their clients happy. You should also ask the agent how

they communicate with their clients and whether they prefer to use text, email or

phone.

While it’s not common, there are some agents who only accept cash or a wire

transfer for their commission. This can be a good option for some buyers, but it’s

important to make sure the agent you choose is flexible enough to accommodate

your preferences. Be sure to discuss this with the agent before you sign your

contract.