The best way to reduce real estate agent commission is to negotiate a lower fee. The most significant expense will likely be the agent’s commission when you’re selling a property, so reducing the seller’s agent fee is vital to save you money in the sale.
When you have your selection down to a few agents, you can start negotiating the seller’s agent fee and get a lower fee than first offered. When you enter into negotiations with your selected real estate agent, you can ask to see a breakdown of their rates and cost projection. You may find you can save on their fees by eliminating certain elements. The breakdown may include a cost for a signboard outside your home, and if you don’t want that, then the agent may be willing to lower their fees.
In a high-value property, you may find that lowering the commission fee can save you a few thousand dollars. As you’re looking after your best interest, please don’t be shy in telling the estate agents you’re comparing their fees with others in the area. If the agent knows you’re shopping around, they may be more likely to offer you a better deal to secure your property.
Real estate agents can be competitive, and they offer you a good deal on your real estate agent fee (which lowers the cost of selling a house) to secure your business. In some instances, real estate agents may try to mitigate some of their risks by requesting you pay a portion of the commission fee upfront.
You can use ListReady and access up to $35,000 of funds that can be used for your property when selling your home. These funds can be used for any purpose, including paying the fees for selling a house. You can pay the commission and other selling property costs or use the available funds to improve your property and help sell your home quickly in a slow market.