Real estate commission can be a tricky topic. At MarketPro Homebuyers, we get a lot of questions about commission from people who are deciding how they want to sell their house. We put together these frequently asked questions about how commission works and how to navigate commission in your home sale. Make sure to read to the end to find out how you can land a no-commission sale!
Question 1: How does commission work?
Answer: Real estate commission is typically paid at closing, and is paid from the proceeds of the sale. The buyer’s agent and the seller’s agent usually split the commission equally. Occasionally, real estate agents will agree to alternative payment structures (like a flat fee), but this is far from the norm.
Question 2: How do I prepare for commission as a seller?
Answer: If you’re putting your home on the market, plan for about 5-6% of the selling price to go to commission. So, if your home sells for $250,000 you’ll be losing about $12,500-$15,000 to commission. It’s important to set the price of your home with this in mind. Here are some tips on how to price your house right.
Question 3: Is it possible to reduce commission?
Answer: If you want to reduce commission, one option is to list for sale by owner, or FSBO. That only cuts out commission on the seller’s agent side, though. If you don’t offer commission to buyer’s agents, those agents will not be likely to bring clients to see your home. If you mainly deal with unrepresented buyers, your pool of potential buyers will be quite small and you’ll likely deal with people who aren’t serious buyers.
Question 4: Is a no-commission sale possible?
Answer: If you want to pay ZERO commission, we have good news for you. No-commission sales are real! At MarketPro Homebuyers, we offer home sales with zero commission involved. When you work with us, we give you a cash offer for your home, as-is, and you get to skip all the typical costs of putting your home on the market.
Question 5: Can my distressed home really be sold commission-free?
Answer: Yes. We take homes in any state of repair. When we say as-is, we really mean it—whether the needed repairs are major or minor.
Question 6: How quickly can I complete my no-commission sale?
Answer: At MarketPro, we follow your timeline. Since we have the funds to buy your home, we can accommodate any timing request you may have, giving you full control over the selling process. When selling to MarketPro, you also get to skip the months-long process of preparing your home for sale and listing it on the market. In many situations, we can even help you pack and move! There’s no faster, smoother way to sell your home.
Work with MarketPro Homebuyers:
Remember: We’ll give you a fast cash offer for your current home just as it is now; no repairs, no inspection, no commissions or fees. You can even choose your exact closing date to coordinate perfectly with the purchase of your new home. Our team will walk you through your quote, including a review of what your home would likely bring on the open market.
If you’re in Washington, D.C., Maryland, Virginia, or Pennsylvania, we’d love to show you how easy and stress-free the sales process can be. Contact us today for a same-day, no-pressure quote.