Real Estate Commissions: How Much Do They Cost?

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The real estate agent commission model has been a hallmark of the housing
industry for decades. While it might seem like a fixed part of your home sale, it isn’t
quite that simple. In fact, the amount you pay a Realtor depends on a number of
different factors. Understanding how much is real estate commission can help you
make a better decision when hiring an agent to represent you.

Whether you’re selling or buying a property, it’s likely that you’ll hire a real estate
agent to help you through the process. These agents can help you zero in on
properties that meet your needs, schedule tours, and negotiate with potential
buyers. They can also handle the often time-consuming paperwork that comes with
a home sale. And while real estate agents may seem expensive, they’re actually a
necessary expense.

So how much does it cost to sell a house in New York? The good news is that New
York’s real estate agent commission rates are not set in stone. They can be
negotiated, and they’re usually less than you might expect.
First, it’s important to remember that the seller pays the real estate commission.
This is typically a percentage of the sales price of the property. For example, a
$25,000 home sale would yield a commission of $5,000. Generally, the seller’s agent gives a portion of their commission to the buyer’s agent in a transaction. This is usually done in a 50-50 split.

Additionally, the real estate agent will have to pay a brokerage fee. Depending on
the brokerage, this can be as low as 30% or as high as 50%. This fee is taken out of
the overall commission that the real estate agent earns on the sale.
Finally, some agents will offer lower rates in exchange for repeat business. This
means that if you’re selling and planning on purchasing in the same market, you can
work with your listing agent to negotiate a two-for-one deal. This can save you
money on commission, while allowing your agent to earn a larger percentage of the
total sales price of the property. For more info

As a result, real estate commission is a highly negotiable amount. In the end, your
agent’s goal is to get you the best possible outcome for your real estate transaction,
so they’re generally willing to work with you to find a rate that works for everyone.
Ready to start negotiating? Clever Real Estate matches you with top-producing real
estate agents who charge just a 1.5% listing fee. Get started today and see how
much you can save! We have 237 vetted agents across New York who are ready to
work for you. Try it for free!




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