PHOTO: ANDREY POPOV/123RF Your agent should do more than just hand over the keys to a buyer.
Can you please explain why real estate fees are so high, literally thousands of dollars per sale? The general impression is real estate agents don’t do a lot. Yes, they spend time working with prospective buyers, doing all the paperwork, and work with the owner. Yes, it is a personal business relationship between owner and agent but how many hours? And what warrants them receiving so much over a short space of time?
Yours is a common sentiment. Commentator Shamubeel Eaqub says part of the problem is that we’re working with a model that’s been around for decades.
While house prices have risen, the percentage amount charged in commission hasn’t changed, so agents now earn vastly more than they would have previously, for the same amount of work. There are no rules around what agents charge.
There are fixed-fee and lower-commission options, if you’re willing to look for them. Many have had a hard time breaking into the market because people want trusted, big-name brands when it comes to selling their biggest assets.
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