How to Pay Less Real Estate Commission

The internet has changed the way sellers can show their homes. According to the U.S. National Association of Realtors, 75% of buyers use the internet to search for homes. See how you can negotiate a lower commission to sell your home.

  1.  Understand that real estate commissions are always negotiable.
  2. Be alert. If your home is only listed in the Multiple Listing Service of your area, it may not be receiving the best market exposure. All other means of exposure such as open houses and newspaper advertising are used to supplement MLS marketing. Your realtor should use all the mean available to expose your house to the market.
  3. Be wary of the “discount brokers” as they offer different tiers to market your home. Depending on the sales price, you may end up paying more than the local commission rates
  4. Always negotiate. You can negotiate with local agents to pay a lower commission. Try and remember, “you get what you pay for”. Companies set their own policies regarding their commission rates, but it’s illegal for an agent to tell you all commissions are pre-set by a governmental agency. Actually, it’s an anti-trust violation.
  5. Search online for an agent. If you have trouble finding an agent from a large, well-established and well-known franchise company to negotiate their commission, then search online for a discount broker in your area. They specialize in selling “Discount Homes”.
  6. You should interview a couple agents. Find one that you would like to spend time with and one that has a marketing plan.
  7. Generally it doesn’t cost any more to use a reputable Real Estate agent from a Well known company.
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This entry was posted on Tuesday, August 16th, 2011 at 4:48 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.