Paying commission for San Diego real estate agents is worth it when you know that you can get an average of $40,000 more on a home for sale in San Diego than selling on your own. Where does this commission come from and how much will it cost you? Let’s take a look at those questions upfront.
Who Pays the Agents?
There are several ways in which the commission is paid out, but typically the commission will be paid to the brokerage that the agent works for. For example, if you are working with a Coldwell Banker Encinitas real estate agent, Coldwell Banker will pay the commission to the agent. Both the buyer and the seller will pay the respective brokerages of the agents.
How Much is the Commission?
The amount of the commission is often negotiable, but it traditionally ranges from 5% to 8%. Common practice is that the broker for the seller will share the commission with the broker for the buyer, though this may not be split evenly. It is up to the brokers to decide how the commission will be split and if a highly successful agent will receive a larger portion of the proceeds than a beginning agent for example.
Is Paying Commission Worth It?
If you are considering whether or not it is worthwhile to pay a portion of your proceeds to a real estate agent, consider that not only will having an agent help you sell your home more effectively and save you time, but also that those who utilize a Realtor end up selling their homes for an average of $40,000 more than those who sell on their own.
The final decision on whether or not to use a real estate agent is up to you, but the benefits you can get are substantial. Feel free to consult with a San Diego Realtor today by calling 760-310-0234.