For those who don’t know, the general term for any service, broker, or agent that will help you sell your house for less than the usual commission fee in your region is called low-commission real estate.
In the United States, the average real estate commission cost is around 5.5% of the home’s selling price. If you sell your house with a real estate broker or agent that charges a low commission fee (around 3-4%), can provide you a lot of savings.
However, you should remember that not every low-commission real estate service is made the same.
Commission saves will often come at the expense of support and key services. This can affect your outcome and your home selling experience. Today, we’re going to share with you some things to know about low-commission Kitsap County real estate agents.
It Can Be Risky to Negotiate a Lower Commission
You should remember that if you do manage to talk the agent into lowering their commission fees, you might expose yourself to tradeoffs or risks.
A couple of agents might lower their service scope. This will allow them to offset the savings. Aside from that, they might also prioritize their other customers who have higher-commissions.
Typically, it makes more sense if you work with an agent that negotiates lower commission fees for you. Aside from being an easy option, it will also provide less risk and better savings for you.
Other Methods to Lower the Deal
Agents might also be willing to reduce their commission fees for you if you net them more money once the process is done. This may occur if:
- You connect the agent with friends or family who are ready to buy or sell
- The agent is representing both you and the purchaser
- You agree to sell and purchase a house using the same agent
A Couple of Cases Provide You More Negotiating Leverage
The factors that surround your sale will determine ultimately your negotiating power when it comes to getting lower commission fees. There are a couple of cases that may make it simpler to get a rate reduction. This includes:
- Not a lot of people in your region are selling houses right now
- You have already a lineup of buyers
- There is a huge buyer demand for houses in your area
- You are selling a high-value house
A Couple of Agents Might be Unable to Lower Their Rate
Almost every agent will only provide a bit of reduction. On the other hand, some might not be able to negotiate at all.
Agents have many expenses to cover. Aside from that, they will also have to split a huge part of their commission rate with their brokerage. The agent might risk losing money on the deal if they lower their fees too much.
In addition to that, a couple of agents will not have control over their fees. This is particularly true for newer ones. Their brokerage might dictate the structure of their pricing. Thus, they can’t cut you a break.