Real estate agents help you to sell your property. However, there is a certain amount of money you have to pay for this service. The agents get a certain percentage of the selling price on the property. The fees the agents receive vary depending on the property listing and the agent.
Other factors that affect the prices changed by the agents are the historical success of real estate agent, market sales, and the turnover. Real estate agents that have higher sales usually increase the percentage of commission that they charge. The HVG helps clients and agents to establish the real estate fees and the commissions. Since the fees differ, you need to carry out research before hiring a particular real estate agent.
Basic facts
How much do real estate agents charge?
Normally, the real estate commission is a percentage of the property’s sale price. Also, you need to part with GST on
the real estate commission. It is because the GST is not tax exempt. Some real estate agents have fixed fees, but it is not easy to get such agents.
A majority of the real estate agents get a percentage of the selling price on the property. For instance, a property worth $600,000 where the agents charge 2.5% mean that the commission will be $15,000.
What are the current real estate commissions?
During the time when the states were deregulated, real estate agent could come up with their fee. Most agents based the price depending on the property demand. …
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