- ORIGINAL NEWS
36% of homebuyers and sellers don’t know they can negotiate real estate agent fees
- SUMMARY
Many homebuyers and sellers don’t know that they can negotiate fees with their real estate agents.
Almost a third of them have tried and 64% were successful.
Real estate agents help with selling and buying homes, but their commissions can be substantial.
In 2023, the average commission was 5.37% or thousands of dollars on a typical home sale price.
Despite these high commissions, many people are unaware of what they actually pay.
Some sellers avoid fees by selling their homes without an agent, while real estate agents argue that they have unique expertise and save their clients time and effort.
Experts recommend asking agents about their fees and comparing different listings.
There are different options like low-commission agents and flat-fee services.
In the future, there may be changes to how seller’s pay commissions.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“Homebuyers negotiating realtor fees”
“Agents are often familiar with local housing market trends, know how to sell a property for a higher price and are familiar with the necessary paperwork involved in the transaction.”
“The home seller is responsible for paying both their agent and the buyer’s. But that could change if a lawsuit stands.”
Negative
“Nearly a third, 31%, of buyers don’t realize they can negotiate a real estate agent’s commission.”