In today's tough real estate market, it pays to be smart and informed about the sales process. One of the most expensive parts of the real estate transaction involves the potential payment of a real estate commission to either the seller's or buyer's agents involved in a traditional sale.
Throughout the years we have working with private home sellers when selling "by owner", it has always amazed me to learn how both sellers and buyers feel that commissions are an inevitable and unavoidable part of the sales transaction and that they are set in stone.
The average U. S real estate commission in 2008 ranged from 5-7%, depending on where you live. Some agents will quickly say that their commission is 5% (but only if the buyer comes through their agency. One might presume that their motivation would be to not go out of their way to encourage brokers from other agencies to become involved.
Discount brokers claim they can offer the same services as "full commission" agents at a fraction of the cost, but at what price to the home seller. Be very careful and read the fine print before signing any contract, even one with only a 3-4% listing fee.
Private home sellers pay Zero listing commission and can offer a buyer's agent whatever they want, of course.
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