6% is what realtors usually charge. The main thing to be focused on is how much can a realtor make you. Our goal is to help maximize the value of your home. There are many techniques to do that. Consult with realtors in your area and find out the value they bring.
Typically just to get it listed may not cost very much if any. I would say it is more elbow grease in getting the property de-cluttered and cleaned. The agent should cover all photos and marketing expenses. Upon closing, there is typically a 6% commission (here in Georgia) prorated taxes, and any closing costs that were negotiated (lender fees, attorney/title fees etc)
There are a handful of costs associated with selling a property. Below is a list of possible costs:
1. Listing Commission (Typically the seller pays the commission for the listing and buying side) 6% total on average
2. Some Brokers have an additional fee called a broker transaction fee (usually 200-700)
3. If you list your property with an agent there typically are not additional costs associated with marketing but always ask anyone you interview to be sure you know what to expect.
4. There are also closing costs associated with the title company for example a settlement fee, title search, document stamps (taxes), a new survey if required, an estoppel fee from the HOA if there are any associations where your property is located. And any prorated items such as HOA dues, Property Taxes, etc....
A side note. Any real estate should be able to give you a net sheet based off of a realistic market value of your home so you roughly know hoe much you will receive at closing. If you have any liens and or mortgages on the property those will come out of your total closing as well.
It costs nothing to list it (in most cases), but to sell it you will likely pay a broker fee at closing and some costs associated with the terms of the contract such as title insurance, survey, repairs, etc. There is no set pricing standard and it is not regulated by NAR, however it is safe to say that broker listing fees average 5-7 percent. It is usually paid by the seller and split between the selling broker and listing broker evenly but not always. Aside from the previously discussed fees, you might pay for some other items but this would need to be a discussion with your agent.
Hi Randy, typically there is no fee to get your home listed. Your real estate agent only gets paid upon closing. Since we run our own businesses, some agents may charge a minimum fee. Be sure to ask this question when you are interviewing agents. Thanks for the great question.
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