One of the biggest challenges for homeowners looking to sell their property is trying to make as much profit as they can. Even before the first potential buyer walks in the door, the homeowner is lowering the price to be competitive in the market and signing on to pay tens of thousands of dollars in real estate agent commissions. To help offset those initial loses, savvy home sellers have discovered there is some wiggle room when it comes to the commissions their agents make.
Here are three tips on how to negotiate real estate commissions and put that money back in your pocket, brought to us by our friends at Premier One. Visit them online – they specialize in luxury real estate in Charleston SC.
1. Summary of Work Involved
If you want to negotiate with your real estate agent for a lower commission, take the time to write down all of the tasks that you can undertake to lighten the agents load. While many of the services the real estate agent are invaluable, you could save them time by advertising the open house, taking professional pictures of the homes interior, and allowing qualified buyers in the house without having to have the real estate agent drive over to show the house. The lighter load for the agent, the more room you have to negotiate their commission.
2. Working With the Agent Again
One of the easiest ways to negotiate a lower real estate commission is to simply talk with the agent about helping you buy a house after this one sells. Many sellers are looking to downsize or relocate to another part of the state. Your real estate agent has inroads in many of those counties and can either directly or indirectly make sure you have the best help when looking for a new home. Because the agent gets two commissions for the sale of two houses, they will often entertain the idea of taking less commission on the sale of your house.
3. Desirable Selling Conditions
Some homeowners live in developments that are highly desirable to buyers, and quickly sell as soon as they are listed. If your home is in a region where they houses typically have full price offers days after being listed, you can negotiate a lower real estate commission because the agent is not going to have to invest six months to try and find the right buyer. The house will literally sell itself, and the agent is only needed to handle the paperwork and closing details.
These tips on how to negotiate real estate commissions just scratch the surface. The only way that you will find out if you have the ability to make a deal is to simply ask, many realtors are receptive to the idea when they’re asked.