If you’re looking to buy or sell a home, you’re likely considering using a real estate agent or a REALTOR® (an agent that belongs to the National Associate of Realtors), to help you with the transaction.
For many, it’s a great option because real estate agents can bring a lot of value.
However, it’s not without cost – if you hire an agent, you’re going to be paying for their services. And, as you may be realizing, their fees can be quite high.
On average, you can expect to pay about 6% of your home’s sales price as a fee to your realtor or agent. That’s a TON of money!!!
If you’d like to see how much money that is, you can use our Home Commission Sales Calculator to quickly see how much you’ll be paying.
You might be thinking, “Only the seller pays that fee so I don’t need to worry if I’m the buyer.” That’s not entirely true – sellers pay the 6% fee because their agent splits it with the buyer’s agent. Therefore, if you don’t have an agent, you can immediately get 3% saving because the sellers won’t have to be giving up 3% to your agent.
REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics
