Interested in selling your home? If so, then you’ll want to have an agent to represent and guide you through the process. After all, listing your home with help from a Realtor can help you sell your home more quickly and for more money.
Still, with the commissions and fees that come along with hiring a traditional Realtor, you could easily end up paying thousands or even tens of thousands of dollars for these services. Fortunately, by working with a 1% commission realtor, you can get the professional assistance you need without the large price tag.
What is a 1% Commission Realtor?
Across the United States, the average Realtor’s commission is about 6% of a home’s sale price; in most cases, this commission is split between the buyer’s agent and the seller’s agent when a home is sold. This means that on a home that sells for $200,000, both Realtors will pocket around $6,000 for a total of $12,000. As you can see, this can add up quickly for sellers.
A 1 percent commission realtor, on the other hand, offers a hefty discount on commission in exchange for fewer services. In most cases, a 1% commission real estate agent will offer basic services that include listing your home, handling your offers and counteroffers, and working with you at closing. However, other aspects of the selling process will be your responsibility, such as taking photos and showing your home.
Benefits of Using a 1% Commission Realtor
There are many potential advantages of working with an agent who offers 1% listing fees—especially if you don’t mind putting in some of the work when it comes to selling your home. The biggest advantage, of course, is the potential to save money.
If you’re trying to sell your home for $250,000, an average Realtor commission of 6% means that you’ll end up losing out on $15,000 of profits after your sale is complete. With a 1% commission real estate agent, on the other hand, you’ll pay just $2,500 to your agent. That’s a significant savings of $12,500!
In addition to saving you money, working with this type of real estate agent gives you greater control over the process of selling your home. You’ll have the freedom to schedule your own open houses, handle your own showings, and possibly even take your own listing photos. While this added level of control may not be ideal for everybody, it is something that many sellers enjoy.
Tips for Working with a 1% Commission Realtor
If you’re thinking about working with a 1 percent commission real estate agent to sell your home, the most important thing to do is to find out exactly what will be included versus what you’ll need to do yourself. Some agents offer à la carte options, so you can pick and choose which exact services you need. Other agents, however, may be more rigid in their inclusions and exclusions.
Get Started With Selling Your House Today!
Selling your home with a 1% commission real estate agent can be a great way to save money while still getting professional help throughout the process. Be sure to look into this option as you prepare to sell your home; you might be surprised at how much money you can save!