When it comes to purchasing or offloading a property, one question often arises: What is the estate agent’s fee, also known as the commission, who pays? The distribution of this expense is of special importance for the people buying or selling mountain view homes close to Asheville, NC, or interested in new construction in Asheville, NC.
A real estate transaction usually incurs the commission of one party, generally, the seller. The seller’s and buyer’s agents each cut a portion of this fee. At the time of listing the property and usually a percentage of the property’s selling price, it is agreed upon. A fast transaction is important whether you’re investing in a luxury mansion near me or looking to buy a home in houses in rural areas near me, and it all boils down to this breakdown.
The normal fee is 5-6% for the property’s selling price. The seller and buyer agents split it 50/50. For example, if a property sells for $300,000 and the commission is 6%, that’ll be $18,000 total commission split between the two agents, $9,000 each.
However, you should know that the commission rates aren’t set in stone, they can be negotiated. If sellers are selling a high priced property like luxury mansions near Asheville, or are promising to use the same agent when purchasing their new home, sellers may be able to negotiate a lower commission. It can benefit both parties, particularly in an overly competitive real estate market.
It also incentivizes agents to show the property to potential buyers and in turn the buyer’s agent’s commission. Agents might not be as likely to bring certain properties forward if there wasn’t a commission.
In most cases, the seller is the one that is most at risk of bearing the brunt of the commission, and so the buyer impacts this expense insidiously. Whether selling mountain view homes near Asheville, NC or more houses in rural areas near me, the commission is baked into the selling price of the property; the buyer pays a portion of the agent’s fee.
Finally, while the realtor is paid from the seller’s pocket by the seller, the realtor ends up opting for the indirect cost because it is added to the price of the property. Whether you’re trying to navigate new developments in Asheville, NC, or consider luxury mansions near me, knowing who pays the realtor’s commission can help buyers and sellers make better decisions on who to pay, and on a more favorable deal.
