Real Estate Article: Myths Some Home Sellers Believe

“All Real Estate Agents make large salaries and get their expenses paid.” Real estate agents are on commissions only and pay all of their own expenses.  Most people would be surprised at the expenses involved....licensing fees, dues, MLS fees, lock box controllers, marketing and advertising...and a lot more.  Working on commission means that we don't get paid until we have a closing!  And at closing, the commission gets split between the listing company and the selling company.  Then each company pays their agent according the their agreement with the agent.  The agent you work with does not get the entire commission!

“Commission rates are negotiable.” or “Commission rates are set.”  Because of the Federal Anti-Trust law, there can never be any agreement between real estate companies as to what commission rate is to be charged.  There isn't some governing body that sets the commission rates.  Real estate companies are free to set their own rates based on their expenses, etc.  Because of this, it's often said that commission rates are negotiable.  But sometimes that is thought to mean that individual real estate agents can negotiate the commission rate directly with a seller.  The reality is that they can only negotiate as far as their real estate company will allow them to go.  Some real estate companies allow negotiation, while other real estate don't allow it. 

“Only certain real estate companies or agents can get my home sold.”  Some of them would like you to believe that!  But the reality is far different.  Have at least 3 agents from different companies come talk with you before you list.  That way you'll find the best agent for you.

Instead of believing myths, learn the truth about selling a house. 

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Keller Williams Realty West

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