Is a 1% Commission All It Costs to Sell Your Home?
Real estate agents who offer you a 1% commission on your home sale aren’t telling the full story. Here’s what their offer really means.
You may be seeing a lot of advertisements out there for a “1% commission” for home sellers. Obviously, this sounds like an appealing proposal, but the reality is far different. A 1% commission typically goes to the listing agent.
When you want to actually get your home on the market and appeal to a wide variety of buyers and their agents, you will have to offer a co-broker commission. The 1% commission that’s advertised is basically just to get you to call them. It does not exist, and it’s not in your best interest to offer a 1% commission to the buyer’s agent either.
You get what you pay for when it comes to commission, and 1% is just too subpar. A lot of these 1% brokerages aren’t even located in state. If you had an issue, you’d have to contact them outside of Rhode Island.
It’s important that you do your research before hiring an agent. Find out where they’re from, how many sales they’ve completed, and how prominent they are in your market. They should always be a full-time agent as well.
If you have any questions for me about what you should be looking for in an agent or what we can offer you as far as home selling services go, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.