When you’re creating a budget for your home sale, you might not always think to budget for commission fees. Commission fees can be unexpectedly expensive, especially if your house sells for a high price. Here are a few details explaining whether or not fast home buying companies charge commission fees.
What is a Commission Fee?
A commission fee is a fee that a real estate agent charges when they help out with your home sale. Homeowners don’t pay real estate agents for their services upfront. Instead, they pay their commission fee as part of the closing processes and costs. The price of your commission fee depends on the price of your home sale. Generally, real estate agents charge you 5-7% of your home sale price in commission fees. This can quickly add up to tens of thousands of dollars you weren’t planning to spend.
Who Charges Them?
As previously mentioned, real estate agents charge commission fees. If you or your buyer is using a real estate agent to help with your house sale, chances are that you’ll be charged commission fees. This is especially common when you’re selling your house traditionally since traditional home buyers often expect the seller to help out with closing costs, even if they didn’t hire a real estate agent themselves. Even if you sell your house to an individual cash buyer, you might have to pay a commission fee. Some individual cash buyers choose to work with real estate agents.
How to Save and Sell Without Commission
If you have a strict budget for your home sale and are trying to save and sell without paying commission fees, consider selling your house for cash. You can still find individual cash buyers who don’t work with real estate agents, but you’ll need to clarify that before you accept their cash offer. Luckily, cash home buying businesses will buy your house as-is with no strings attached. They never work with real estate agents since they’re well-educated and experienced in the real estate market. This makes it extremely easy to sell your house for a great price while avoiding extra expenses such as repairs and commission fees.
So, if your budget is looking pretty tight for your home sale, remember that you don’t have to waste tens of thousands of dollars on commission fees. Instead, you can sell your house for cash without a real estate agent and skip the expensive fees. A cash buyer or cash home buying business will help you to save big on your home sale.
Do you want to sell your house without any expensive commission fees attached? Click here to get a cash offer today from Home Helpers Group, a fast home buying company.