|Long & Foster Real Estate|
#1 question from Sellers is, "How much do you charge?"
The Real Question should be, "Where does the commission go, and how is that money divided up to sell my home?"
As a Listing Agent who has sold over 100 homes in the DC Metro Area I have ran across a lot of scenarios and since the market has changed from when I first became an agent I have experienced a lot of situations working with sellers.
I hope this Blog can clear up some nagging questions that a seller may have about the fee Realtors charge to sell their house.
The first question is always, "how much do you charge?" When the question should be, "where does that commission go, and how is it divided up to sell my home?
The commission is negotiated by the listing agent with the owner to provide services and guarantees to sell their home within a period of time.
The commission is then split between the Brokers of the Listing agent (Long & Foster) and the Buyers Agent (unknown at this time) a 6% commission would be split in the following diagram
How the commission is Split
So you see the commission is split between 4 people and then we have to deduct our expenses from the commission that we are paid. Remember Realtors work for themselves, we have to pay our broker a split of our commission to work under their companies name, just like the owner of Subway has to pay Subway a portion of their sales to own a subway.
Questions, please feel free to send me a question and it may be the next topic of my blog, you can always call me as well at 240-483-7556 and my email is Coni@ConiOtto.comPlease continue to come back and check my blog for new entries on questions I get asked everyday about Real Estate.
Coni Otto * C: 240-483-7556 * Office: 301-384-8700 * F: 866-850-2198 *