Understanding Estate Agent Fees When Selling a House

Understand the Estate Agent Fees

A real estate agent fee is something you negotiate to pay as a commission to an estate agent in exchange for getting the best buyer for your house. Usually, real estate agent demand their commission in perspective to the overall sale price of the house. When it comes to the commission fee, it may be roughly between 5 and 6 per cent of your home’s total sales value. However, any given agent may request a one-time fee for helping you to sell a house without any hassle.

• Your real estate agent fee covers a property valuation to determine the market value of your house. The valuation is done by considering local market research, trends and past sales data.
• A real estate agent also helps to create accurate floor plans and measurements before selling your house.
• The fee also covers the cost of professional photography of your house to use as marketing material.
• The real estate agents find buyers and arrange onsite viewings.
• The real estate agents are responsible for marketing your house to attract potential buyers and the cost of marketing is covered under the agents' commission.
• Once a buyer is engaged, real estate agents enter negotiation on your behalf to sell your house for the best possible deals.

For Sale by Owner (FSBO): Best Way to Save on Real Estate Agent’s Commission Fees

You can save a significant amount of money by selling your house without engaging a real estate agent. Hiring a real estate agent is not a legal requirement, if you are up for selling a house by yourself also known as for sale by owner (FSBO). Follow the steps below to sell your house without engaging a real estate agent.

1. Prepare Your House: Staging your house is also a factor that is recommended when considering selling your house without hiring a real estate agent. To some extent, you can fix things up and give the house a new look for it to be more presentable. Consider repairing minor wear and tear in your house to increase its appearance. You also can think about home staging as a secondary service to maximize the sea price and improve the overall appearance of your house.
2. Set the Price Accurately: The next step is to set the sale price accurately to attract potential buyers. You can research the market, compare sold prices of similar properties, and analyse the average house prices to determine the sale price for your house. The free online property valuation service of Estate Agent Power is also a viable tool for finding the net value of your house and setting the asking price accordingly.
3. Market Your House: Marketing is the key to finding the best deals for your property when selling without a real estate agent. Use online real estate marketplaces to present your house for sale. You can create a free listing on estateagentpower.com to put your house on sale and attract global buyers.
4. Accept Offer and Close the Deal: Once you list the house on a real estate platform offers will come. Compare the offers to pick the best deal and enter negotiation with a buyer to agree upon a selling price. You must engage a solicitor to handle the legal work and transfer the ownership smoothly.