Experience Lakefront Living
- Real estate agents are paid on a commission basis at the successful conclusion of a real estate transaction.
- Commissions are a percentage of the sales price of a home paid to the agents of the buyer and seller.
- Some brokers offer discounted commissions, some as low as 3%. Some as high as 10%. The norm is 6%.
Scott Freerksen "The Lake Guy"
211 Main Street, Suite One
Milford, Massachusetts 01757
Office Telephone: 508-269-6623
Email: lakeside01@comcast.net
Understanding Real Estate Commissions
Real Estate Commissions are Generally Divided 4 Ways:
Using an example of 6% total commission...
* 3% Listing Commission is divided between the listing agent and his/her broker usually at a 50:50 basis. This means the broker and the listing agent get 1-1/2%.
* 3% Selling Commission is divided between the Buyer’s agent and his/her broker again at a 50:50 basis. Here again, the broker and the Buyer’s agent get 1 1/2%.
* The 6% commission is paid by the Seller through a listing agreement signed by the Seller and Broker. The Broker becomes the owner’s representative. The Seller’s agent is duty bound to get the highest possible price and best terms for the Seller.
* Approximately 75% of all real estate transactions are closed via the
4-way split in this example.
Seem like a high price to pay?
- According to a recent study but the National Association of Realtors (NAR), homeowners selling on their own, on average, sell for 17% less than if they hired an agent.
- According to a USA Today study, homeowners sell for 21.49% less than agent-assisted sales.
The Key is to understand what VALUE you are getting for your commission
Your chosen Realtor® should be an expert in the following disciplines:
- Pricing: Too high and the property will sit on the market, too low and you will loose out on your equity
- Marketing: To sell quickly and for top dollar, an all-encompassing marketing campaign is essential
- Specialist: Agents who specialize in a specific market segment have hundred’s of registered Buyer leads
- Showings: A full service agent will always accompany showings, security of your home is a top priority
- Monitoring: A good agent will monitor the results of the marketing campaign and adjust accordingly
- Communication: Constant communication of the current status and progress of your sale is critical
- Negotiating: Top agents are educated on the skills of negotiation, this could mean $thousands in your pocket
- Servicing: Full service agents are there every step of the way, from showings to home inspections to closing
- Recommendations: Your agent can advise you on all real estate related services such as lenders, contractors, attorneys, movers, etc.
Real estate companies offer a range of commissions
- Realty Executives is not a discount company. Instead, we chose to provide a full-service plan that sells your house for the highest amount of money with the least inconvenience.
- If other Companies are willing to discount their commission, how well are they going to do when negotiating your sale price?
- There are many choices to make when selling your home, including the amount of time, money and energy you are willing to put in yourself.
- At Realty executives, we are proud to put in our own time, money and energy into your home sale so you do not have to.
- Experience "Maximum Value with Minimum Hassle"
