Two out of three home sellers hire the first agent they contact.
Many homesellers don’t realize that real estate commissions are negotiable. The fact that real estate commissions seem to be fairly standard across the country leads many to believe that there’s only one commission rate.
Nationally, the average commission rate is about 5.2% according to Real Trends, a publishing and communications company providing news, research and information-based services to the residential real estate industry. But a recent poll of home sellers showed that most people anticipate paying a commission of 6% for a real estate agent to list and sell their home.
As new Internet business models enter the real estate arena, the downward pressure on real estate commissions gives home sellers more room to negotiate when it comes to hiring a real estate broker. Knowing what you can hope to gain by doing a little reseach before meeting with a real estate agent could save you a lot.
For a primer on "How to Negotiate Real Estate Commission Rates" see the new online report at Insight-Realty.com.
See Also
- Real estate: Why are you paying 6%?
The real estate industry strives to keep the commission rates high. Here’s how. - Real Trends Survey
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