Real Estate Fee Charged in Jacksonville Florida
Jacksonville residents and property owners like all others nationwide often as the same question “How much commission should I realistically pay a real estate agent?” If you are asking this question, it is most likely because you do not want to overpay for services. Probably you have already contacted a couple of real estate agents and they have all quoted the same average rate for you. Well, if you are going to investigate what real estate commission rates are, it is only appropriate that you know what goes into making the rates. With this information, you will be better armed when negotiating with real estate agents.
What Do Commissions Cover
Every commission paid to a real estate agent should cover some basic services at least. A regular real estate agent commission should cover professional photography, ads on major real estate sites like Zillow and Trulia, offline marketing including flyers and postcards, and open-house services. Where the negotiation really starts is when it comes to creating a website for your property. A regular website may cost anywhere between $100 to $200 while a more detailed website with virtual tours can cost as much as $500
One other big talking point for negotiating rates is staging. Staging your property for sale can cost anywhere from $500 to $2000 per month depending on the size of your property. However, it can cause an issue of discomfort if you or your tenants still live there. The ideal thing would be to discuss with your real estate agent and decide if staging is ideal for your property. If it is, most real estate agents have affiliations with staging professionals who will in turn offer their services to you at a discount.
Lastly, it is key to note that the entirety of your commission does not go to your agent. The commission paid by your agent generally goes in four directions; the listing side, the selling side, the agent and then the broker. As you can tell, listing a property and selling it are two very different things. Most agents have to share a large percentage of their fees with their brokerage, hence the need to get the best rate possible.
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How Much Should I Pay as Commission to My Agent
The question of how much to pay will be answered by you, the seller. What you want determines how much you pay. In Jacksonville, Florida the average selling rate is 6% but this can always be negotiated keeping in mind the things discussed earlier. If you are not interested in staging for your property or you do not care much for a dedicated website, you may be able to negotiate a much lower rate (maybe as low as 4.5%). Keep in mind though that what you pay for is what you get. Your best bet is working with an experienced real estate agent. Discuss extensively with your agent so you can ensure that either you are paying top dollar or not, you get the quality you deserve. In addition to that, keep in mind that all real estate agents will reduce their rates if they believe you will use them for the next property. So, if you own multiple properties, you can reduce your rate by leveraging the promise of future business.