Realtor Commission in NOVA (2%, dual agency, sale, fees)
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I am trying to sell my home in NOVA area and would like to find what would be the realtor (buyer and seller) commission to pay as well as how much if both buyer and seller are same.
are you attempting to ask if 1 agent practices dual agency, and represents both Buyer and Seller?
Compensation to agents typically runs between $0 when you and the buyer do not engage the services of an agent, all the way up to 6% give or take if you both want representation.
Who did you use to buy the home, and did they do a good enough job to consider them to represent you in the sale?
Im in this area, and agree with Bo. You can pay as little as nothing to an agent, should you sell on your own, up to around 6% if agents on both sides of the table are utilized (or your listing agent opts for dual agency, with yours and the buyers permission). Some agents (myself included) flat out won't act as a dual agent, so prepare yourself for that possibility by asking at your listing appointment.
You'll find agents that collect 3%, 4%, 5.5%, 6% (total, then divvied up with the cooperating agent that brings the successful buyer) , so I'd advise to inquire as to what role the listing agent will play in the transaction. What kind of marketing do they do, do they use a professional photographer or if not, do they have a lookbook of previous listings that they've shot.. Poke around here in the RE forum, as most of the questions you might have leading up to a listing appointment will be outlined (and are not area specific so they should apply to the Nova area)
When you say $0--Can you please explain, (other than sell by owner) what other options are available.
at $0, nothing that I can think. You can sell it on your own and only work with a buyer that comes without representation. Then, just agree to possibly pay none/any/all the buyers closing costs, along with your closing costs (transfer taxes, settlement company fees, recording fees, etc)
are you attempting to ask if 1 agent practices dual agency, and represents both Buyer and Seller?
Compensation to agents typically runs between $0 when you and the buyer do not engage the services of an agent, all the way up to 6% give or take if you both want representation.
Who did you use to buy the home, and did they do a good enough job to consider them to represent you in the sale?
Quote:
Originally Posted by kww
Im in this area, and agree with Bo. You can pay as little as nothing to an agent, should you sell on your own, up to around 6% if agents on both sides of the table are utilized (or your listing agent opts for dual agency, with yours and the buyers permission). Some agents (myself included) flat out won't act as a dual agent, so prepare yourself for that possibility by asking at your listing appointment.
You'll find agents that collect 3%, 4%, 5.5%, 6% (total, then divvied up with the cooperating agent that brings the successful buyer) , so I'd advise to inquire as to what role the listing agent will play in the transaction. What kind of marketing do they do, do they use a professional photographer or if not, do they have a lookbook of previous listings that they've shot.. Poke around here in the RE forum, as most of the questions you might have leading up to a listing appointment will be outlined (and are not area specific so they should apply to the Nova area)
Quote:
Originally Posted by amarv79
Thanks Bo and Kww.
When you say $0--Can you please explain, (other than sell by owner) what other options are available.
I think I can understand the OP's apparent confusion. I scratched my head at the bold, underlined text above when I first read it (yes, i know there is text that follows to make it technically correct) but it is confusing. It makes it sound like agents have a plan or an arrangement where there is a 0% charge. Not sure if that's why the OP seems to be confused but I can certainly see why. Like saying hotels can cost $0 per night if you stay at home. Well technically yes but an odd way to articulate a simple point so the reader is left wondering if you meant something else.
I didn't say anything at first to reduce my intervention on these kinds of matters but I thought I'd point this out since this convoluted text seems like it may have caused consumer confusion.
I am trying to sell my home in NOVA area and would like to find what would be the realtor (buyer and seller) commission to pay as well as how much if both buyer and seller are same.
Thanks.
The total commission and the split between the agents involved is negotiated with your listing agent. Interview a few, and pick the one who you think is the best fit for you.
OP, I know Realtors that will charge you $0 on the sale of your home, provided you purchase a home with that same agent at 3%. I know other Realtors that will not work a sale dual agency, and if a buyer comes to them without an agent, she will give the buyers 3% either in price or closing costs, provided they don't bring a second agent into the deal and the buyers represent their own interests. But in all cases, the listing is signed at 6% and the changes are negotiated when there is something to negotiate. And then, there is also the agent assisting with buying a new home with a builder, advertises they will give back 2% (or 1.5%, since several major builders here dropped their selling commission to 2.5%).
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