How Much Does a Real Estate Agent Cost?
How Much Does a Real Estate Agent Cost? Is it Worth it?
The standard commission for a real estate transaction is typically 6% of the homeʼs sale price, according to most real estate websites. The commission is usually split between the sellerʼs agent and buyerʼs agent—meaning both agents receive a 3% cut.
What Does a Real Estate Commission Cover?
A real estate commission covers all the work that goes into buying and selling property. A sellerʼs agent shows you how to stage your home for buyers and—since they know what similar homes in your area are selling for—they help you price it right.
Meanwhile, a buyerʼs agent studies home listings that match your needs and price range. Beyond those differences, both types of agents give you the confidence that a real estate professional is on your side, and they offer many similar services. For example, both agents:
– Meet with you in person to understand your needs and answer any questions you have
– Educate you on current market conditions
– Give you access to an MLS—which offers more options to buyers and visibility to sellers
– Refer other needed pros (mortgage lenders, photographers, inspectors, attorneys)
– Schedule home showings
– Negotiate the best price for you
– Represent you throughout the sale and act in your best interest
– Help you through the mountain of paperwork
How Do Real Estate Agents Get Paid?
Itʼs standard practice for the seller to cover the commission for both the sellerʼs agent and buyerʼs agent.
Is Hiring an Agent Worth the Cost?
Sellers cover the commission for both agents. So, buyers have nothing to lose!
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