What Are the Different Fees Paid to Real Estate Agents When Selling Your Home?
Before deciding how to sell your home, make sure to do some research and find the best route for you. Many factors play a role in this decision and it’s important to have an understanding of all the aspects including acquired fees. When selling your home the traditional way, there are fees you should be prepared for include:
- Fee for the Listing Real Estate Agents Service
- Fee for the Listing Real Estate Broker’s Service
- Fee for the Home Buyer’s Real Estate Agent
- Fee for the Home Buyer’s Real Estate Broker
The fees paid to real estate agents come from the seller of the home and are generally around 6% of the home sale price. As you’re making plans to sell your house, we want you to be in the loop knowing what selling routes you can take and understanding the fees involved.
What Are the Fees Paid to Real Estate Agents?
Depending on your state, you can expect to pay around 5-6% of the home sale price in fees to your real estate agent. Typically, the seller is responsible for this fee, and it covers the commission for the listing agent and the home buyer’s agent. For example, let’s say you are selling your home and have to pay a fee of 6%. If your home sale price is $200,000, that is $12,000 you have to pay your real estate agent. According to NerdWallet, if the seller pays a 6% fee, the agents would split the commission and 1.5% would go to the listing agent, the listing broker, the home buyer’s real estate agent, and the home buyer’s real estate broker.
What Are These Fees Used for and Will You Benefit From Paying Them?
These fees pay your real estate agent for the time spent working to help sell your home. While this cost is unavoidable and may seem like a pain, there are benefits for both the seller and the buyer. These benefits are well-expressed in an article by Bankrate, a consumer financial services company, which states that the money can be used to cover:
- Marketing materials
- MLS (Multiple Listings Service)
- Staging and showing properties
- Arranging for open houses
- Expert advice such as how to stage, what updates to make, how to price your home, etc.
Without an agent, you would be responsible for placing signs to make people aware that your home is for sale, coordinating open houses and private showings, researching and implementing staging techniques, negotiating with potential buyers, making contingencies on the sale, navigating legal paperwork, and listing the property on multiple listing services, etc.
Other Costs You Can Come Across When You Sell Your Home
Besides the fee you will pay the realtor, there are other costs that you may come across when selling your home. Think of where you’re living right now. What, if anything, would need to be done to your home before selling it? Is there a leaky faucet that needs to be fixed? Is there a window that needs to be replaced? Maybe it’s a little outdated and needs a minor facelift to make it more appealing to potential home buyers. You may even need to hire a professional cleaner before house showings. These are all potential costs you should budget for when selling your home. You may choose to not make any repairs to your home. However, this is always subject to change as repairs are negotiated between the buyer and seller of the house during the inspection period.
Fees Paid When You Sell Your Property to House Guys USA
If you’re looking for a company to sell your home for cash and skip using a real estate agent, as well as avoid the fees, working with House Guys USA might be the perfect option for you. We buy houses in Kansas City. Here’s how it works: we provide win-win solutions to help homeowners get out of messy situations. While you may be able to get a higher “top line” sales price listing with a local Kansas City agent, it doesn’t always add up to be the best solution. It also doesn’t mean more money in your pocket. You don’t have to worry about any fees when you sell your home to House Guys USA. In fact, there are no closing fees or costs. You don’t even have to pay moving fees for your unwanted possessions. Leave those unwanted items behind and our team will dispose of them ourselves. You can say goodbye to repair costs, closing costs, real estate agent fees, and appraisals. House Guys USA takes care of it all! Sell your home easy, sell your home fast, and sell your home for cash with House Guys USA.
What’s the Best Route for You to Take to Sell Your House?
Whether you decide to sell your house with a real estate agent or sell your house for cash, be sure to determine which option is the best for you. Use a realtor to sell your home if you want the convenience of using a real estate agent and are prepared to pay closing costs and a real estate agent fee. If you have found yourself in a sticky situation, like foreclosure or owning a troublesome property, you may want to consider selling your home for cash to a real estate solutions company, like House Guys USA.
Choose the Best Option for You to Sell Your Home in Kansas City
When you decide to sell your house, it’s important to weigh your options and decide which is the best route. One option is to sell your house with a real estate agent, pay 5-6% of your home sale value in fees to the agent for marketing materials and property showings, pay for upgrades and repairs, and pay closing costs. The other option is to sell your home for cash to House Guys, USA, and avoid fees and closing costs.
At House Guys, USA, our professionals are here to help you navigate through the home selling process and make things as easy as possible. We understand the importance of finding the best method for you when selling your home. We’re available to answer any questions and help talk you through the process. Call us today and see how we can help you.