A real estate agent is a professional who helps you buy or sell a property. They also communicate with other parties involved in the transaction and let you know about changes. This can help you avoid costly mistakes. Here are some things to keep in mind when hiring a real estate agent. This agent should have experience in the area of real estate and be knowledgeable of local laws.
Less expensive than a full-time real estate agent
If you are looking for an income supplement, you can become a part-time real estate agent. For example, single parents or retirees may not have time for a full-time job, but they can make a decent amount of spending money from part-time real estate work. Besides, part-time real estate work allows you to set your own hours and still earn a paycheck.
Another advantage is that part-time real estate agents are able to build a solid reputation for themselves. Having knowledge of the market, industry knowledge, and the willingness to go the extra mile for a client are all important for being a successful part-time real estate agent. This Bargara real estate agent way, agents can work with fewer clients, but still deliver high-quality service.
More efficient than a realtor
In some cases, you may be better off selling your own home rather than hiring a realtor. This is because a realtor will take a commission of three percent of the sales price of your home. That means that a 3% commission on a $350,000 listing will amount to $10,500, and that’s money you could spend elsewhere. Furthermore, you’ll keep the money you’d have spent on an agent in your bank account.
Commission split between buyer’s and seller’s agent
A typical home sale will include a certain percentage in commission for the buyer’s agent. Typically, that amount is 5%. This commission will be split between the buyer’s agent and seller’s agent. However, it can vary depending on the parties. A fair split would be a split of 2.5% between the buyer’s agent and seller’s agent. However, you should be aware that discount brokers may not always provide a fair split.
The commission split between buyer’s and seller’s agents should be mutually agreed upon in the listing contract. In a weak market, the buyer might be more apt to make low offers. Therefore, it is in the seller’s best interest to negotiate a lower commission for the agent.