What do real estate agents charge?
Real estate agents typically don’t charge a set rate to their clients, but rather earn a commission on the price of the final home sale. In traditional real estate, there is a buyer’s agent and a seller’s agent. The two agents receive 5 percent to 6 percent of the final home sale price and split it evenly, meaning they each earn roughly 2.5 percent to 3 percent of the total home sale. If you are a home seller, you may have fees associated with the sale that are above and beyond the commission the agents earn. The real estate agent may have you pay marketing fees, MLS fees, early cancellation fees, or more. Always ask pricing details before signing a contract so you clearly understand your financial obligations. Here are some of the average (and common) costs that can arise when selling a home:
- Home inspection: $200-$350 or more, depending on region.
- Home appraisal: $250-$400 or more, depending on region.
- Professional real estate photography: $275-$550 or more, depending on photographer, square footage of house, and special requests like sunset shots.
- Closing costs: Often split between the seller and buyer. An average range for the buyer to pay is between 3 percent and 4 percent, with the seller paying a lower fee at 1 percent to 3 percent of the home’s price.