Savvy home buyers know that they can't determine the amount of money they'll get for their property solely based on the list prices of similar North York properties for sale. When a sale goes through, there are a whole host of fees and taxes that need to be paid which cut into the home seller's profits. The largest expense is usually the real estate agent's fee, which leads some to wonder if they need to use one at all. To help you make your decision, here's an overview of the fees a real estate agent will charge.
Who pays fees?
If you're a first time home buyer trying to save money, you might be considering not using the services of a real estate agent. This would be a mistake, because your realtor taker his or her fee from the SELLER, not from you, even if he or she hasn't hired the same Brantford real estate agents to represent them. All realtors have this agreement, so sellers end up paying the fees for both the services they receive from an agent as well as the services their buyer receives.
How fees are calculated
A real estate agent's fee for the sale of a home is not based upon a specific number, rather as a percentage of the sale price they are able to get for you. It's called a commission and it means that the more expensive your home is the larger the amount you'll be paying a agent for the same work. The actual percentage taken depends on the realtor and the region. A Toronto real estate agent might take 5% off the total price while a Vancouver agent might charge 7% of the first $100,000 and 3% thereafter.
Brampton Real Estate
Our website will have all you need when searching for a home in Brampton! www.bramptonhomezone.com |
| Toronto Condominiums
Looking for condos in Toronto? Call Joanna at 416-433-3414 for details. www.condosbyjoanna.com |
| | Mississauga Homes
Eliza Wong can assist you in both English and Chinese. www.ElizaWong.ca |
|
|
What your fee pays for
You might be wondering what all those thousands of dollars are going towards. So here is what a real estate agent does for the money he or she makes off of homes for sale in Vaughan: lists the home in print and online, creates brochures and signs to advertise your home locally, photographs and writes listing content for the home, advises buyers and sellers on the best ways for them to proceed, conducts open houses and property viewings, offers advice on making the home more appealing to potential buyers, and negotiates the sale contract on the client's behalf.
How to save money on fees
You will save the most money by not hiring a realtor at all, but if you don't feel up to doing it on your own you have two options. You can either use a flat-fee service like Property Guys or you can shop around to various Guelph real estate agents and pick the one with the cheapest commission.
| 