When you Sell your Home, What is the Real Estate Commission?

Real estate commission is the amount of money paid to the agents involved in a

home sale. It’s typically split among four parties—the listing agent, the listing

agent’s brokerage, the buyer’s agent and the buyer’s brokerage. The amount of real

estate commission that is paid can vary depending on a number of factors, including

the location of the property, market conditions and other variables.

When you sell your home, the listing agent will typically charge a 6% commission to

cover their work. That’s a lot of money! However, it’s important to remember that

the majority of a realtor’s work takes place before a listing is ever posted. This

includes consultations, staging, getting professional photos done, marketing your

home online and offline and facilitating the transaction from contract to closing.

The other half of a real estate commission is typically divided equally between the

seller’s agent and the buyer’s agent. While the standard is a 50/50 split, this can be

negotiable. For example, some agents may offer lower rates in exchange for repeat

business, or if the homeowner plans to buy another home in the same area.

As a home seller, it may seem counterintuitive to pay for the buyer’s agent.

However, it’s a cost of doing business and helps ensure that buyers are receiving

the full benefit of a knowledgeable agent’s expertise throughout the process.

The typical commission rate in New York is 6%, but it can vary depending on the

market. It can also change between a seller’s and buyer’s market. During a seller’s

market, there are more interested buyers than homes for sale, and properties often

sell quickly at or above their listing price. On the other hand, a buyer’s market can

mean longer listing periods and slower sales, as there are fewer buyers than

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Despite these fluctuations, the average New York real estate commission still makes

sense for sellers and is well worth the cost of having a talented and experienced

agent by your side. In addition, there are ways to reduce or eliminate traditional NYC

broker commissions when selling your home.

If you’re looking to sell your home and save on real estate commission, Hauseit can

match you with top-producing local agents who will work for just a 1.5% listing fee.

Simply answer a few questions about your home and we’ll match you with agents

who are a good fit. Click here to get started!