The first point of concern for any seller that even contemplates putting their house on the market it the eventuality of extremely high real estate agents’ commissions. Typically, a realtor is said to charge anywhere between 2 to 6 percent of the total sales price – but that’s just exorbitant.
While people may think otherwise, there are definitely ways through which one can easily avoid the agents’ commission.
Here are some of the tried and tested tips to help you sell your home all without compromising on your savings:
Educate Yourself
The fact is that realtors everywhere take advantage of their client’s lack of knowledge. No one really expects a homemaker looking to switch homes for whatever reason to be aware of what is or isn’t involved in a house-selling contract. As such, not only are they able to charge extraordinary commissions, but more often than not, they also have a few other hidden charges set in place that help them gain larger profits.
The best way to avoid having to pay inflated agents’ commissions is to educate yourself well before entering into a buying or selling contract. Familiarize yourself with the terms and conditions involved and you are set to make a better deal for yourself.
Know The Market Rate
Most clients end up paying anywhere between four to six percent of their selling price as part of a realtor’s commission when the fact is, that commissions also range from as low as one to one point five percent. The commissions directly depend on the current market status as well as the location and community of the property being bought or sold. Know the market rate in your country to avoid being duped into paying higher.
Haggle Like The Best of Them
Did you know that unlike what they would have you believe, realtors’ agent commissions are actually entirely negotiable? If a real estate agent comes to you with a percentage demand, haggle to get it reduced to a number that you are happy with.
Leverage Your Ability To Sell Your Home Yourself
One of the best tactics to save yourself from having to part with your hard-earned money and avoiding agents’ commissions is to sell the property yourself and cut out the Real Estate Agent altogether. This means it you can sell the property at a lower price and still pocket the same amount of money as you do not have to pay a Real Estate Agent their commission. And if you do happen to sell it for more, it’s cream for you, with no one else dipping their finger in the pie.
Negotiate the Commission Rate
Real estate commissions are often negotiable. In many areas, agents typically charge between 5-6%, but you can negotiate for a lower rate, especially if you’re in a seller’s market or if your property is highly desirable.
Go Online
When posting a post property ad online, aim to capture all essential details in a well-structured, concise format that appeals to potential buyers and allows you to avoid unnecessary real estate agent commissions. Start with a catchy title highlighting the property’s best features, like location or size, then include essential property details such as square footage, number of bedrooms and bathrooms, and unique selling points (e.g., modern appliances, recent renovations, or outdoor space). High-quality photos, a virtual tour, or a video walkthrough can make a huge difference, as they give buyers a more immersive experience without in-person viewings, potentially saving on agent fees. Describe the neighborhood, emphasizing nearby amenities, public transportation, and local schools if applicable. Lastly, add transparent pricing, mention if negotiations are welcome, and provide clear contact details and viewing instructions so interested buyers can reach out directly – this approach lets you retain control over the process and avoid agent commissions while still effectively showcasing your property.
If you are capable of selling your home on your own and would like to avoid being ripped off by a realtor, use your ability to arrange for a selling contract yourself and have the real estate agent heed to line. Any sensible businessperson who doesn’t want to lose a good business opportunity will concede to your demands.
