Real estate commissions are fees paid to your real estate agent or service for helping you sell your home. Typical commission rates have historically been around 5-6%, and can vary depending on the agent or service you use. As more home sellers are learning that these commissions are negotiable, many firms are starting to advertise a discounted commission or fee to win over clients. These days, common pricing structures for selling your home include traditional commissions, discounted commissions, flat fees, and tiered flat fees.
There are two main reasons fees and commissions have been decreasing: competition and technology. As information becomes more accessible, home sellers are realizing that commissions are negotiable. This has made the industry incredibly competitive between agents, and in turn, commissions have fallen. Secondly, with the rise of real estate technology companies, processes have been optimized and scaled to a point that allow costs to decrease.
There are now many discount brokerages and online real estate services available to sell your home. Modern day real estate companies have also found ways to replace older processes such as marketing strategies when selling your home. By having processes streamlined and utilizing utilizing technology, real estate companies and brokerages can operate at a lower cost. The best part? All of this benefits you, the home seller.
Redfin is a low cost full service real estate brokerage that utilizes technology to provide a premium home selling experience.
Purplebricks is a flat fee full service real estate brokerage that represents home buyers and sellers with local agents.
Home Bay helps you sell your home remotely, while taking care of the whole selling process.
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