- ORIGINAL NEWS
36% of homebuyers and sellers don’t know they can negotiate real estate agent fees. Here’s how to do it
- SUMMARY
Many homebuyers and sellers don’t realize they can negotiate their real estate agent’s fees.
A recent survey found that 31% of people have done so, and 64% successfully reduced their costs.
Real estate agents provide valuable services, such as helping you sell your property for a higher price and handling the paperwork.
However, their commissions can be high, amounting to thousands of dollars.
To negotiate your fees, compare different agents and their rates.
You may have more leverage if you have a desirable home or if the local market is hot.
If you’re working with a dual agent, they could be more likely to accept a lower rate since they won’t have to split the commission with another agent.
Remember, agents rely on their commissions for their income, so be respectful and prepare to compromise.
Currently, the seller is responsible for paying both the buyer’s and seller’s agents, but a recent lawsuit could change that in the future.
- NEWS SENTIMENT CHECK
- Overall sentiment:
Positive
Positive
Negative
“A majority of those, 64%, successfully reduced their fees”
“Real estate commission fees are one of the sort of less glamorous or less talked-out parts of the homebuying process”