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Real Estate: 3 Tips to Reduce Expenses on Agent Commission

Written by Posted On Friday, 03 November 2017 04:50

When you are looking to sell your house, one of the primary considerations when choosing a listing agent is the percent they will charge. In the United States real estate market, you can typically expect to see a 6% commission which is not set by law and is negotiable. Remember that the listing agent a is not there to sell your home necessarily, but they are there to market your home.

If you’re not getting much more money when using a real estate broker who charges 6% commission to sell your house, why use them? Finding another alternative may be the best answer since you can pay as low as 1% commission when selling a house. If you’re going to sell a home and want to pay for an agent’s expertise, there are ways to lower the fee.

1.   Check Around for another Agent

Interviewing more agents is one of the good ways to find out if you get along with an agent and learn how they’ll sell your home. Ask them few questions like; how many homes have they sold in the price range in this area; how they would market your home and the price they recommended putting your house on the market for to sell it in few months.

2.   The Use of Deedcoin

Deedcoin is a network which allows you to pay as low as 1% commission when selling a house. Deedcoin gives an opportunity for buyers to receive rebates at the end when buying any property listed by the seller with a conventional agent. Some sellers who are not using Deedcoin are paying high commission to their agents.

If a seller decided to use Deedcoin, he has to use a Deedcoin agent so that he will only pay 1% commission. When a seller accepts an offer from a buyer who is not using a Deedcoin agent, he will still make some substantial savings but has to pay 3% to the buyer’s agent, which makes the sum of 4% commission using 20 Deedcoin.

Conversely, in the case that the buyer’s agent is also using Deedcoin for the transaction, the two agents will share that 1%, which means that he has nothing to pay the buyer’s agent. In the situation, the seller needs to pay just 1% using 50 Deedcoin.

3.   Increase your selling price

This tactic may not help you negotiate a lower sales commission with your agent, but it will help you at least pay for their services without subtracting their fee from your asking price. If a buyer offers close to the asking price of your home within the first week, the impulse is to take the offer.

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