Owners of residential and commercial property have one thing in common, they want to avoid paying high fees when selling property. The typical realtor fee, or commission, is between 5% and 6% which is split between the buyer’s agent and the listing agent. If a property is sold for $500,000 the seller would pay $25,000-$30,000 in realtor fees. The good news is there are ways to avoid paying high realtor fees and each has its benefits.
Shop around for a better deal. When you shop around for a real estate company offering a lower fee, you’ll still receive the one-on-one relationship many buyers and sellers of property desire.
Use the same realtor to sell and buy. Real estate companies love repeat business and will often work with clients promising future commissions.
Hire a fee-based real estate attorney. Most real estate attorneys offer fee-based service. Title companies often have real estate attorneys in-house and can handle real estate transactions from contract to closing. You’ll pay hundreds instead of thousands when all is said and done.
Consider selling through a flat-rate company like Zillow or FSBO.com. If you’re willing to sell your property for the going market rate knowing that you may be missing out on a bidding war and an increased sales price, it’s a quick way to sell stress-free.
Sell through a broker for a reduced fee. Discount brokers don’t offer one-on-one service, but they do have lower fees and can save sellers thousands.
We wish you luck in your real estate adventure and are always here to answer any questions you may have regarding our Investment Management and Tax Planning services, which can be very beneficial for real estate investors. 800-689-3935