Jupiter Discount Realtors Save You Money Selling your Home
The Truth About Real Estate Commissions Buy Owner Flat Fee Commissions Discount Realtors
Your thinking of selling your home and you see ads from many local realtors. Which do you chose and what do you believe. Some say no commissions, others say 2% , 4% or 6%. What do you do? It's true, home prices have increased, thereby raising our commissions. But business costs have increased dramatically. Realtors costs, such as rent, advertising,insurance and vehicle expenses have all increased too. So why all these different listing fees. Below are a few examples of terms you may run across.
Buy Owner Flat fee commissions - ( Help U Sell, Assist 2 Sell ) Discount Realtors - ( Home Discovery, Expert Realty ) Full Service Realtors - ( Illustrated Properties,Coldwell Bankers, Keller Williams)
When you hire a realtor to sell your home he works exclusively for you. He markets your property, negotiates contracts and follows through on the sale of your home. For this he is paid a fee. He may negotiate with you or he may not. They may range from a flat fee of $3,995 to a full service 6% commission. He is the Listing agent. He usually receives half of the total real estate commission to market your property.
Your Listing agent may or may not provide the buyer. If another realtor provides a buyer becomes the Buyers agent. He expects a commission too. What you pay him is up to you. Remember if you pay him to little, he may not show your home. Expect to pay them a minimum of 2% and a maximum of 3%.
So you see there are two sides to all real estate transactions. That 6% commission is split between the Buyers agent and the Listing agent. At times your listing agent may also provide the buyer so he will expect to be paid on the buyer and sellers side of the transaction.
I will provide some advantages and disadvantages below.
Buy Owner 1) Pay up front to sell your home no matter if it sells or not. 2) Limited marketing ( not listed on the MLS) 3) You show your home and negotiate the sale.
Flat Fee Realtors 1) They charge a flat fee to list and market your home. ( $2,995 to $4,995) 2) It gets listed on the MLS 3) You may have to show your own home. 4) You also pay the buyers agent a commission. Usually 2 to 3%. 5) Your fee's will be $2,995 and 3%.
Discount Realtors 1) They charge a flat fee commission of 2 or 2.5% to market and list your home. 2) It may or may not be placed on the MLS. 3) You may or may not have to show your home. 4) You still have to pay the buyers agent a 2 or 3% commission. 5) They may pay a reduced fee to a buyers agent which will limit the agents that show your home.
Full Service Realtors 1) They charge a full service rate of 5 to 7% to market your home. 2) They list it on the MLS. 3) They advertise your property in many mediums. 4) The commission is split between the buyer and listing agents.
What I do for my customers is listen to their needs and then prepare a marketing plan that encompasses what we will do and what we will charge. Not everyone needs a full service agent or a barebones discount service. I prepare a plan and then we discuss your needs and objectives. I feel this gives each client exactly what they need to sell their home. Call me for an appointment and we can discuss your individual needs and prepare a plan to market your home that is both affordable and satisfactory to you.
Thank You
Jim McLane Illustrated Properties Luxury Collection www.Jupiter1Realty.com 561-744-7025 For All of Your Real Estate Needs!
