These are some of the questions you should ask:
Keep a record of the interviews and the answers. Choose the agency you feel has your best interests at heart, who has communicated openly and honestly with you and has answered all the questions. When you finally do choose an agency they will require you to sign a listing agreement, limit this agreement to 60 days only.
Also, remember all commissions are negotiable. This is how they work.
Most commissions are somewhere between 1.75% to 2.75% of the sale price depending on the price and location of your property.
Commissions are usually split in three ways. (These percentage splits vary across different estate agencies and are approximate figures.)
So if you are selling your home and the commission is, for example, $30,000
- 60% or $18,000
goes direct the real estate agency to cover the companies costs such as office, staff, corporate advertising, telephone etc.
- 20% or $6,000
is paid to the real estate agent (listing agent) who came out to your home and listed the property and who is your point of contact with the agency.
- 20% or $6,000 is paid to the agent who actually sells the house. This person will still work for the agency but may or may not be the agent who listed your house.
If you use a Property Advocacy Service they will negotiate the commission for you.
Be prepared to negotiate the commission - you just have to ask!
Our focus is to improve the affordability of the real estate process and increase the transparency and control we experience.
We are happy to share any knowledge or information we have to get you the best outcome possible when you sell your home.
Even if you are not selling with us please feel free to use the Next Address Community Forum where you can ask a range of questions to our professional network.
Please feel free to reach out to us at any time.