Real Estate Commissions

June 7, 2012 by  
Filed under Commercial Real Estate Tips

commercial real estate commission
by wallyg

Real Estate Commissions

Considering the current economic situation, those looking to sell their home may also be trying to save a few bucks when it comes to listing services. With condos and homes sitting on the market for longer and not selling for the desired asking price, many sellers are requesting that their Realtor “cut” their commission on the listing side. If you find yourself asking for a reduced commission, read the following before talking to your Realtor.

1. Would you ask your hairdresser to reduce their cost for cutting your hair or ask your lawyer to reduce their fee? Don’t forget that your Realtor’s career is to trade in real estate and they are considered an expert in their field.

2. By asking your Realtor to reduce their commission for selling your condo or home, you are essentially asking for a minimal service. At a reduced commission, your Realtor will probably be less inclined to hold open houses, provide marketing material or have professional photos taken.

These simple tools can help accelerate the sale of your home by providing maximum exposure and help you get top dollar. In the end, you get what you pay for.

3. Don’t forget that the commission you are paying your realtor is not the actual amount they will be receiving. There is a huge misconception that Realtors make tons of money. Real Estate brokerages take a percentage of that commission, with some as high as 50% depending on the program your Realtor is on.

4. Your Realtor will spend a lot of their own money and time helping to prepare your home for sale. Getting professional photos, floor plans, internet marketing and brochures made up all costs money. Your Realtor may spend thousands of dollars and a lot of their time preparing your home for sale with no guarantee that they will make commission if the home does not sell or that the seller will change their mind.

By hiring a professional Realtor to sell your home, you are paying for a professional service. It is important to interview a few potential Realtors to see which one is best suited for your needs. Compare selling strategies and ask what is included in their commission that they are charging. The most important element when choosing a Realtor is that you feel comfortable with him or her and that they give you the confidence that your home will be sold quickly and smoothly.

Written by the Toronto Condo Chicks: Erica Mary Smith (Tradeworld Realty Inc, Brokerage) & Joy Paterson (Right at Home Realty Inc, Brokerage), Sales Representatives. Your Toronto Realtors! For more articles and Info on Toronto condos and Toronto Real Estate visit: http://www.torontocondomarket.com

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