Unless you are planning to move to the suburbs in the near future, you have probably wondered who pays real estate agent fees. Most realtors charge a 6% commission, which is roughly 6% of the selling price of your property. Therefore, if you decide to list your home with a real estate agent, you will pay $30,000 in commissions. But you can also sell your home without a real estate agent.
Comparing traditional and flat fee real estate agents in Fairfax VA
A common question homeowners ask when deciding between a traditional and flat fee Del Aria Team real estate agent in Fairfax is which is more effective in selling a home. While traditional real estate agents offer comprehensive services, they charge a commission of around 3%. If your home is worth $350,000, this can mean a loss of $10,500. Another 3% goes to the buyer's agent. Not every homeowner can afford to lose tens of thousands of dollars to sell their home.
Traditional real estate agents charge high commissions, but those with flat fees are much more affordable for many home sellers. Flat fees are fixed fees that you agree upon in advance. This makes it easier to estimate costs and ensure you'll be paid on time. Flat fees also avoid the complications associated with the unknown, like the possibility that your property will sell for less than you expect. A flat fee, however, isn't for everyone.
Finding a good real estate agent
The first step in finding a good real estate agent is to check with the state's real estate regulator. Be sure the real estate agent is licensed and registered. You can also check out the Better Business Bureau website for any complaints. Create a list of must-have and wish-list features that you're looking for in a home. Interview several real estate agents and ask each how they communicate. They should understand your needs and budget.
Make sure the real estate agent you're interviewing is active and knows the area. Agents who work alone tend to be more responsive and willing to walk you through the process. You should also ask how many clients they serve. If they have a large number, that could be a problem. Alternatively, a smaller team of agents can be better. Check the agent's online profile for previous disciplinary actions.
Unless you're selling your home FSBO, you'll probably be able to negotiate a lower commission with your Virginia real estate agent. A good agent will make the process as painless as possible while getting you top dollar. In Virginia, the average real estate commission is 6% and is split 50/50 between the buyer and listing agent. For example, a house worth $637,700 would cost you $36,000 in commissions. While these fees are not cheap, they are also usually more affordable than paying the full commission.
When negotiating the commissions for real estate agent fees in Fairfair VA, it's important to remember that a seller's agent will still receive a commission when a buyer is found through the MLS listing. Since most buyers use a buyer's agent when they are looking to buy a home, the listing agent's fee should be between 2% and 3%. Other fees to consider include closing costs, transfer taxes, lender and owner title insurance, and congestion fees in Arlington county.
Selling your home without a real estate agent
Selling your home without a real estate agent in Fairfax VA can save you a lot of money in commission. However, you will have to put a lot of time and effort into the process. The process will not be easy, and you will need to carefully select where to advertise and how to negotiate with the buyer. Here are some tips to sell your home without an agent. Listed below are some advantages and disadvantages to selling your home without an agent.
It is important to remember that your affidavit will have information about the past owners of your home, such as citizenship and exemption from property taxes. Make sure that any errors are correct. Also, make sure that you keep all written correspondence. If your buyer wants to make repairs, you should add an inspection contingency to your offer. It is important to know all the details and make sure you have all the documents needed to close the deal.