When a homeowner hires a realtor to sell a home, do they make any money?
Okay so if a homeowner hires a realtor to sell their home just the regular way, does the homeowner make any money off of this sale? Or does all the profit go to the realtor and his/her company?
The Realtor contracts with the seller for either a fixed fee or a percentage of the sale price.
You needn’t let him dictate the all conditions of your contract with him..
Another important factor is whether the listing is ‘exclusive’ to one Realtor or not.
You can get several to compete to bring you the best price.
The fee is negotiable, as are contract conditions, so haggle and this is one of the
biggest deals you will ever do so know what you’re signing.
( An hour’s briefing on what to watch out for, from a local Real Estate Lawyer
would be a good investment. A couple of hundred that could save you thousands.
Listen and take notes.)
January 18th, 2012 at 1:22 am
The realtor gets 3% of the selling price (typically). The rest is for the owner.
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January 18th, 2012 at 1:36 am
The Realtor contracts with the seller for either a fixed fee or a percentage of the sale price.
You needn’t let him dictate the all conditions of your contract with him..
Another important factor is whether the listing is ‘exclusive’ to one Realtor or not.
You can get several to compete to bring you the best price.
The fee is negotiable, as are contract conditions, so haggle and this is one of the
biggest deals you will ever do so know what you’re signing.
( An hour’s briefing on what to watch out for, from a local Real Estate Lawyer
would be a good investment. A couple of hundred that could save you thousands.
Listen and take notes.)
References :
January 18th, 2012 at 2:08 am
The realtor gets 6%. Any profit remaining goes to the seller
References :
January 18th, 2012 at 2:18 am
Well there are a bunch of people who all get their cut. In layman’s terms There is the broker and the agent(s). Upon signing the contract with a real estate brokerage a.k.a real estate company a percentage of the sale is agreed to be paid to them and others I will cover in a sec, Upon the sale the broker gets all the money from the percentage and then the agent gets paid. BUT if the listing agent and the selling agent are not from the same brokerage then they split it half and half between the two separate companies . That’s pretty basic there are lots of little other people who get paid and then there are the bills that have to be paid life for the office, phone and supplies excedera..
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January 18th, 2012 at 3:04 am
The homeowner gets what is left over after the mortgage is paid, the commission is paid, etc.
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January 18th, 2012 at 3:48 am
The realtor only gets a small commission for selling the place. After the mortgage balance is paid off and all fees associated with selling the house, then the seller is given the balance.
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