What’s the Commission on Selling a House?

Chris at Hauseit (https://www.hauseit.com) goes over the topic of what the commission is when selling a house, and what's typical in terms of a broker commission that you should expect to pay.

Save 2% When You Buy: https://www.hauseit.com/buyer-closing-credit/
Save 6% When You Sell: https://www.hauseit.com/agent-assisted-fsbo/

Save money when buying, selling and renting real estate in New York and Florida with Hauseit. Available in NYC, Long Island, the Hudson Valley and South Florida. Visit https://hauseit.com, send us an email to team@hauseit.com or give us a call: (888) 494-8258 to learn more. Established 2014.

1% Full Service Listing: https://www.hauseit.com/1-percent-full-service/
Rental Listing Service: https://www.hauseit.com/rental-listing-service/
...
The commission on selling a house is typically no different than the commission structure you'd encounter when selling a condo, townhouse or any other residential property.

In a traditional listing arrangement, the sellers signs an exclusive right to sell listing agreement where he or she agrees to pay a fixed percentage of the sale price in commission to the seller's agent upon a sale.

This commission rate can vary, but is often 6% which is what you hear about on television and on the news. This commission is paid regardless of whether the buyer has a buyer's agent or not, as the listing agreement only vaguely specifies that the seller's broker may be obligated to co-broke (i.e. split commission) with cooperating buyer's brokers per local MLS rules.

What these MLS rules typically stipulate is that the total commission is co-broked at least equally in favor of the buyer's agent. What you see most common is actually an equal co-broking, where the commission is split 50/50 if the buyer has an agent.

As a result, at closing the seller may find him or herself writing a check for all 6% to the seller's broker, or 3% to the seller's broker and 3% to the buyer's broker. Either way, the seller pays the same commission on the sale.
...
https://www.hauseit.com

Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.

Hauseit Group LLC, Licensed Real Estate Corporation
Tel: (888) 494-8258 | https://www.hauseit.com
_
#hauseit #hauseitnyc #hauseitmiami #hauseitsouthflorida #hauseitlongisland #hauseithudsonvalley #hauseitwestchester #hauseitrealestate #hauseitre