FAQ
Answers to possible questions you may have
What percentage of the final home sale price do you charge?
All fees earned by a Real Estate Agent can be negotiated before the Seller signs a listing agreement to sell a home. The commission is based on the final sales price of a property. The exact terms of an agent's commission vary between sales and by which firm they work. While the average real estate agent commission hovers around 5% to 6%, depending on where you live, the total cost of selling tends to be higher. Buyers rarely pay any commission but it can happen if negotiated and placed in their Buyer/Tenant agreement.
​
What does the commission cover?
​
The average real estate agent commission covers a wide range of services an agent provides during a home sale. These services can include: working with the seller to set a realistic price for the home, marketing it through a variety of online and offline channels, professionally presenting the home to potential buyers, negotiating the transaction details, being present during inspections and appraisals, and ultimately closing the sale.
​
How is the commission divided between agents?
​
As mentioned above, the commission is typically split evenly between the buyer’s agent and the listing agent. So if a home sells for $250,000 with a 6% commission, the seller's agent and buyer's agent will split the total commission of $15,000, with each agent receiving $7,500.
It’s important to also note that after the initial split, the commission may then be divided between the broker and the agent. On average, the actual agent may only get 1.5% of a 6% commission.
Do I need a real estate lawyer as well?
YES! If you have any questions at all about the wording in contracts or anything in the process of a transaction you are in. Real Estate agents by law are to inform clients to seek an Attorney for assistance. Real Estate Agents are not to give you any legal advice or it may be considered "Practicing Law" which is not something agents are not allowed to do.
Whether or not you need a real estate lawyer depends on your specific situation. It is generally recommended to consult with a real estate lawyer when dealing with complex real estate transactions or legal issues. A real estate lawyer can provide valuable expertise and guidance in areas such as reviewing contracts, negotiating terms, and ensuring all legal requirements are met.
If you are buying or selling a property, especially if it involves commercial real estate or complex financing arrangements, having a real estate lawyer can help protect your interests and ensure a smooth transaction. Similarly, if you are facing any legal issues related to real estate, such as disputes or zoning matters, a lawyer can provide you with the necessary legal advice and representation.
Ultimately, the decision to hire a real estate lawyer depends on the complexity of your situation and your comfort level in navigating legal matters. It is always recommended to consult with a lawyer to assess your specific needs.
How will you find potential buyers/renters for my property?
To find potential buyers or renters for your property, we would employ a combination of traditional and digital marketing strategies. Here are a few methods we would utilize:
Online listing platforms: We would advertise your property on popular real estate websites, such as Zillow, Trulia, Realtor.com, and local listing platforms. This enables us to reach a wide pool of potential buyers or renters actively searching for properties.
Social media marketing: We would leverage social media platforms such as Facebook, Instagram, and LinkedIn to market your property. By creating visually appealing ads and targeted campaigns, we can reach a broader audience and generate interest in your property.
Networking and referrals: Our real estate agents have extensive networks and relationships with other professionals in the industry. We would utilize these connections to reach out to potential buyers or renters who may be interested in your property or who could refer us to potential clients.
Print advertising: We can market your property in local newspapers, magazines, or real estate publications to attract potential buyers or renters who prefer a more traditional approach.
Open houses and property showings: We would organize open houses and private showings to attract interested individuals and give them an opportunity to view your property in person.
Online advertising: We would leverage digital advertising platforms, such as Google Ads or display advertising networks, to target specific demographics or geographical locations and drive traffic to your property's listing.
These strategies, combined with our expertise in the real estate market, will help us find potential buyers or renters for your property and maximize its exposure.