Rick Lopez

Hiring a Reduced Commission Realtor - Top Mistakes to Avoid

The commission of a realtor is the fee that you are supposed to pay to him for the services that he renders during home buying, sale etc. Typically the rate of commission that is paid to a real estate agent is around 5 - 6% of the amount that a home is sold for. A realtor who acts as a seller's agent tends to get 2.5 - 3% of the entire commission. The buyer's agent gets the same. Are you looking for a reduced commission realtor? Here are some top mistakes to avoid while you are trying to hire one for your needs. To learn more about a reduced commission realtor, please visit this website.

Presuming that the commission is standard

Never ever assume that the commission percentage is 5 - 6% of the property's final price. Whether you sell or buy a house, it is essential to keep in mind that the exact commission percentage can be variable. Thus, it is never a good idea to presume the percentage. Ask your realtor about it and get it from him in writing, duly signed by him.

Paying the commission in advance

Never ever do that, even if you are being served by a low commission real estate service provider. You have to pay the commission upon successful closure of the deal, and not before that. The fee of a realtor is not hourly, weekly or monthly. The commission is actually a pre-fixed fee.

Not knowing about the services offered

Find out what kind of buy and sell my house online services are offered by the realtor. Typically, a realtor's services include appraisals, inspections, negotiating the transaction details and presentation among others.

Author Resource:-

Rick advises people about real estate, property investment and affordable housing schemes. You can find his thoughts at real estate in Ontario blog. Visit this website if you are looking about Niagara Falls homes for sale.