When you're selling a $250,000 home here in Newark or with a Mississauga real estate agent and you think that seven percent of that ($17,500) is going to real estate agent and broker fees this could seem like too much of a price to pay. And most people think that if you're working with a registered agent and brokerage to sell your home than this is a cost that is standard and non-negotiable. But the truth is that you can discuss commission with your real estate agent before agreeing to work with them. Here are some things to think about and some tips for going about asking for a discounted rate.
First you will want to know exactly what your agent is really making off of this sale before asking them to take a pay cut. When you're paying commission the money is always going to be split between that local or Richmond Virginia real estate agent and their brokerage. If each is getting fifty percent than your agent will be getting $8,750 from the above mentioned home sale. Out of this they are required to pay all of their overhead expenses and will need to put money away on their own for things like social security. In the end they might be left with less than $5,000.
Obviously, an agent who is great at multi-tasking and selling a few homes every month is going to be making more than an agent who is only able to make a good sale a few times a year. If you're working with a hot-shot agent to sell your Toronto real estate than they are not going to be so dependent on every cent from your deal as someone who is just starting out or is just less prolific in their sales. You will want to know as much about how much your agent is really making within that brokerage before opening up negotiations.
If an agent is going to lower their commission fees than you're usually going to need to offer them something in return. If you have a really special property compared to the other Newark or Mississauga homes for sale on the market and you think that it will go for a very high price this could be a great bargaining chip. Some people also offer to list their home and buy a property within the same brokerage. This means that the agent and broker will be getting money from both sides of the transaction and might be willing to cut your costs for one of the deals.
There are many agents who like to specialize in one particular neighborhood. If you know that they are going up against another agent for the top Spokane WA real estate listings or new homes on the market in Newark and you think that you have a property they might want you could have a chance of negotiating. They will want to have a leg up from the other agents competing in the area.