Are you in the market for buying or selling a home? If so, you may be wondering: how much does it cost to hire a realtor in Austin?
The answer may be simple, but the reasons for hiring a realtor are many.
Fortunately, we have a simple breakdown of how much it might cost to hire a realtor and whether it’s actually worth the investment.
How Much Does It Cost to Hire a Realtor?
Regardless of whether you’re buying or selling a home, you’re dealing with a very large sum of money. It may be tempting to opt-out of using a professional realtor in an attempt to save money.
Unfortunately, there’s a reason that around 86% of people use a realtor during their home -selling or home-buying experiences. Making even a small mistake when selling or buying a home can cost you tens of thousands of dollars.
Knowing the answer to “How much does it cost to hire a realtor?” is more than the simple 6% of the home’s sale price. While this may be a standard amount, the actual cost is far less in terms of value.
What Commission Costs Pay For
The fact of the matter is, if you’re using one of the top selling realtors in Austin, you’re using a trained and experienced professional.
This means you will avoid damages or highly-pricey costs due to mistakes made in the process.
A seller’s agent will do everything from helping you properly stage your home, to researching similar homes in the area so you can set the best price to stay competitive.
A buyer’s agent digs deep through all possible listings for you. They take your budget, desires, and needs and help you find that hidden gem of a home you’re looking for.
Plus, they’ve had much more experience knowing exactly where to look to help you get the right place as quickly as possible.
Even if you’ve sold or purchased a home before, contracts and laws change. The value of hiring a realtor is almost incalculable.
As for what that 6% commission cost pays for, here’s the gist.
3% of the commission goes to the seller’s agent. The other 3% goes to the buyer’s agent.
That 6% commission, split between the two agents, also pays for these services performed by both seller and buyer agents:
- Handling of contracts and dense paperwork
- Price negotiations
- Handles all scheduling for showings
- Schedule in-person meetings to discuss your needs and interests
- Offer referrals to other professionals involved, i.e. photographers or inspectors
- Grant, you access to an MLS
All this said, at the end of the day the cost to hire an experienced realtor is far less than the value they offer.
What to Do Once You Hire a Realtor
So, how much does it cost to hire a realtor? While the standard commission is 6%, it depends on how much getting a great experience and saving money matter to you.
Once you have hired a quality realtor in Austin, the next step is prepping your home for sale. For help with updates that will boost your resale value, browse the Home Improvement portion of our site.