8 Things Your Real Estate Agent Won’t Tell You

1. My fee is not fixed.

Real estate agents receive a 6% fee for their service, which should generally include handling everything about the house sale, from advertizing the listing to the actual moving. In most cases this percentage is split between the buyer’s and seller’s agent, according to the National Association of Realtors data.

The truth is that the commissions are negotiable, but your agent will never tell you that and you might never know unless you ask. Real estate agents often make it look like their fee is according to the NAR, but they will settle for a smaller commission if they are selling in a high-cost market, while they will charge more if the market is low-cost.

Some agents sometimes lower their fees, but instead of losing money, they achieve the complete opposite. That happens when the agent works for and takes the money from both sides, not having to split the earnings with another agent, because there is only the one. In that case, the agent may lower the fee from 6% to 2.5%, and all three sides (agent, seller and buyer) benefit from this kind of arrangement.

In any case, whether you are selling or buying a property, you should be aware of the commissions of your realtor, and try to lower the fee. There’s no harm in asking, and you have nothing to lose by doing so.

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