At the closing table, your real estate agent will demand a small fee for all the services rendered throughout the process. This fee is what’s normally referred to as the realtors fees, or the realtor’s commission.
How is it calculated? Well, it’s a percentage of the property’s final sale price, and it falls in the range of 5-6 percent.
It’s also important to note that the real estate commission usually comes out of the seller’s pockets. There will be two agents at the closing table. The listing agent—who represents the seller’s interest—and the buyer’s agent. In some circles, the seller’s agent is also referred to as the listing agent. So if you hear that phrase, don’t be confused.
Is The Fee Negotiable?
Yes, it’s completely negotiable. In fact, We Buy Fast Houston Houses always tells buyers and sellers to negotiate beforehand, if you want to save more money during the process. But this doesn’t mean that your real estate agent will automatically lower their fee just because you asked. You have to find a way to convince them.
How? Well, one way of doing that is making them believe that buyers will be willing to pay more given it’s a seller’s market.
What If My House In Houston, Texas Doesn’t Sell Fast?
In most cases, you won’t have to worry about the realtor’s commission. however, we do have instances where the seller ends up signing an agreement that says they’ll still have to pay should they fail to sell within a predetermined period. If you find yourself in such a situation, you’ll have to pay because there’s no other way out.
And that’s why we always advise our clients to read between the lines before signing that dotted line. If you fully don’t understand what some of the clauses mean, hire a real estate attorney. They’ll help you translate everything.
If hiring a real estate attorney is well beyond your budget, you could sell the house to someone who doesn’t really care about its condition. We’re talking about We Buy Fast Houston Houses. We’ll buy my home as-is, and help you close in record time.
What Does The Commission Cover?
It covers a bunch of things including coordinated showings, the Multiple Listing Service fees, advertising costs, you name them. The truth is, you can sell my house fats even without doing all these things. But that’s something that your agent won’t willingly tell you. They’re afraid if they let you know that you don’t need them, you’ll bail. And they’re right. Why would anybody keep working with them knowing so well that they’ll have to pay more at the end of it all?
Do Cash Buyers Charge A Fee?
Absolutely not. We don’t charge anything if we help you sell my house fast in Houston, Texas. our services are completely different from those offered by real estate agent. We buy homes while they help their clients sell fast.
Do you have more questions? Feel free to reach us at We Buy Fast Houston Houses.