Total Cost of Hiring a Realtor

Realtors Are Worth the Price

Realtors are an essential part of the home buying or selling process, which is why over 90% of people choose to work with them. Even if you’re familiar with real estate, hiring a professional to help with the complicated paperwork, negotiations, and legalities can make a massive difference in the long run.

One small mistake can cost you thousands of dollars or put your sale on hold for longer. You may assume not hiring a realtor will save you money, but you may spend more by not working with a seasoned professional during the process. While hiring a realtor is an excellent idea for many reasons, you may wonder how much it will cost to work with one.

Generally, realtors make money off of the commission from property transactions. The standard percentage is about 6% of the total sale, split between the buyer’s and seller’s agents.

Below are the other costs of hiring a realtor and why they’re essential when buying or selling a home!

What Does a Realtor’s Commission Cover?

As mentioned above, realtors are paid through commission-based sales. Instead of getting billed for specific hours or services, this commission will cover all the work that goes into buying or selling property.

Seller’s agents will help their clients with staging the home and studying the local market to decide on a fair price for your property. They are also responsible for getting your property seen by as many potential buyers as possible. In this part, realtors will market your home by posting it on websites and social media platforms through Multiple Listing Services (MLS).

Buyer’s agents are responsible for researching home listings to find properties that suit your wish list and needs, helping you land an offer price to bring to the seller, and managing/negotiating the transactions.

What Are Closing Costs?

As a home buyer or seller, closing costs are involved on each side that you should consider when hiring a realtor. You should not skimp on these expenditures in most cases, even if you’re trying to save money. There is a reason they exist, and you should make sure you can afford them before beginning the process!

These costs can include appraisals, legal fees to attorneys, home inspections, homeowners insurance, flood certification, and more. Buyers and sellers will be responsible for covering these costs, but realtors can help you navigate the process! The paperwork can be complicated, especially for a first-time buyer, so you must have a professional agent guiding you through.

Hire a Professional and Knowledgeable Realtor Today

You might think buying or selling a property without a realtor can save you money, but this can be false. There’s a reason this is a professional career that requires lots of time and research! The cost of hiring a realtor involves the commission they split with the other agent during a sale and covers a wide range of help to the clients.

Navigating a home sale from either side can be stressful and time-consuming. Working with a professional, knowledgeable, and communicative realtor is in your best interest! Contact Realtor Linda Moore for information about buying or selling property in your area.

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