Savings Overview
When listing a property through 24HourBrokers you will still be able to set the amount of commission paid to the buyer's agent, which is typically 3%. The commission paid to us as the seller's agent is a simple $3,000 upfront fee. This fee covers our work to handle the marketing, negotiate an offer and coordinate the closing. If paying the full amount upfront doesn't work in your situation, we also offer an option of paying us $500 upfront and $3,500 at closing.
Let's say your home is on the market for $500,000. A traditional seller's agent would collect a 3% commission off of the sale, which would be $15,000. Rather than paying that agent $15,000 to market your home, you can save $12,000 by having us be your agent
As a seller, you can offer the buyer's agent any commission you think is appropriate. However, lower commissions typically encourage agents to show their clients other properties first. For this reason, we strongly recommend a minimum 2.5% commission.
Commissions Overview
Traditional real estate transactions consist of two agents - a buyer's agent and a seller's agent. Both agents earn a percentage of the overall selling price when the house is sold. When listing a property, the seller will determine the percentage earned by each agent. Traditionally, the seller decides on a commission of 6%, with half going to each agent.
In a traditional transaction, the commission is already included in the home’s price. Therefore, a buyer who pays $400,000 will yield the seller $374,000. The $24,000 difference is divided equally between the buyer's and seller's agent since each receive 3% of the sale.
