Real estate agents work hard inside and outside of the office! However, they don’t get paid the same as people who hold classic office jobs. Instead of an hourly wage or a set yearly salary, real estate agents rely solely on sales commissions for their paychecks. That means each time they sell a house, they get a certain percentage of the price the home sold for. The commission percentage varies, but most agents around the country average about 6%.
Who pays the agent’s commission?
Since agents aren’t paid by a company that employs them, you might wonder where their commission comes from. In most cases, the seller pays commission to the listing agent and the buyer’s agent. So, if a house sells for $500,000, a 6% commission is $15,000. This amount normally comes from the seller’s proceeds.
Though it might seem like a relatively small amount compared to the home price, a 6% commission can be a steep added expense for sellers who are also being charged other closing costs. Is there any way to save on commission costs?
What is a low-commission real estate agent?
A low-commission real estate agent is exactly what it sounds like.Instead of the usual 6% commission, their rate is lower than the typical fee. In fact, they can save you as much as half of what you would normally pay an agent. That is a very significant savings.
Where to find a low-commission real estate agent
Of course, saving money on anything, especially on a large transaction such asthe sale of a home is appealing to most people. For those who would like to work with a low-commission or discount real estate agents, you can look for:
- A discount agent who can get your home listed on the MLS and nothing more
- A low-commission brokerage dealing solely in discount listings
- A traditional, full-service real estate agent who has agreed to lower their commission for List Wizer clients
It seems like the choice is pretty obvious. You want to get the most for your money—an expert agent who can give you full service but at a more manageable cost.
List Wizer only works with the best agents and we want you to as well. We don’t want you to have to choose between inferior real estate services and high agent costs. You want it all—superior service and reasonable commission costs and we don’t think that’s too much to ask.
Wondering what the comparison is between List Wizer and your other options? We’ve made it easy to see:
Our math only adds up to one thing for you—savings. Savings and a professional agent who will work hard for your interests. If you think you’d like to work with one of our agents, please don’t hesitate to contact us.