What is the Average Real Estate Commission in Georgia?
The average real estate commission in Georgia is 5.8%. This is higher than the national average of 5.5%. The figures are based on a poll of FastExpert agents throughout the nation.
In this article, we’ll discuss:
- How the average real estate commission is calculated
- What factors affect the amount of real estate commission you pay
- The duties of a real estate agent
- How to find the right real estate agent for you
How is the Average Real Estate Commission Calculated?
The average real estate commission in Georgia was calculated by taking the total amount of commissions paid to real estate agents and dividing it by the total number of homes sold.
For example, if 10 homes were sold and the total amount of commissions paid to real estate agents was $58,000, the average commission would be $5,800 (58,000/10).
The $5,800 would be split between the buyer’s agent and the seller’s agent. In this example, each agent would receive $2,900.
What Factors Affect the Amount of Real Estate Commission You Pay?
There are several factors that can affect the amount of real estate commission you pay.
The first is the type of property you’re selling. For example, expensive homes tend to have higher commissions than more affordable homes.
The second factor is the location of the property. Homes in larger cities or desirable areas will often have higher commissions than homes in less populated areas.
The third factor is the market conditions. In a hot housing market, where there are more buyers than sellers, agents may be able to charge higher commissions.
What Are the Duties of a Real Estate Agent in Georgia?
The duties of a real estate agent in Georgia include helping buyers find properties that meet their needs and budget, and helping sellers market and sell their homes.
Real estate agents also help with the negotiation process, and they are typically involved in the home inspection and closing processes.
By law, they are bound by the code of ethics set forth by the Georgia Real Estate Commission &Board. The ethical rules include, but are not limited to:
- Present all offers in a timely manner
- Disclose material facts about the property
- Avoid conflicts of interest
- Exercise reasonable skill and care
- Abide by confidentiality agreements
How to Find a Real Estate Agent in Georgia
FastExpert can help you find the perfect agent for your needs. Finding an agent in Georgia is easy with our agent directory. Simply enter your zip code, and we’ll provide you with a list of top-rated agents in your area.
You can then read agent reviews, view listings, and compare agent commission rates to find the best fit for you.
So, what are you waiting for? Get started today!