No Transaction Fee
Selling your home can be expensive. Why pay more than you need to? There are many brokerages out there that will either reduce or eliminate some of the fees and commission costs that you, as a seller, have to pay. Here are three things you should look into before you sign up with an agent.
1) Ask About Their Transaction Fees
A transaction fee is also known as a “broker service fee” or “administrative fee” that real estate agents can charge during closing. These fees often cover document storage and management. These fees aren’t as large as the commission but definitely can add up quickly. Know before listing with an agent what sort of fees you as the seller will have to pay.
2) Ask About Their Commission Fees
Real estate commissions are typically paid by the seller and always negotiable. While many agents charge between 4-6%, others will only charge a flat fee. Since this fee is coming out of what you would make from your home’s sale price, understand the implications of how much money you will be on the hook for with your agent.
3) Ask About Other Closing Costs And Fees
Commissions and transaction fees aren’t the only items that can cut into your home sale’s bottom line. Agents will sometimes charge marketing costs directly to the client in addition to their commission. Ask what other costs you might incur as the seller if you list with an agent.