When it comes to Charleston real estate, it is all about being able to negotiate. Most buyers do not pay full asking price for a new home, and the negotiation, or the dance, is just considered part of the process. Before you can learn how to negotiate real estate commissions, it would make better sense if you knew what these real estate rebates were and why you should be trying to get the best possible deal in the first place.
What is a Real Estate Commission?
To better understand what is a real estate commission, you have to understand how the realtor gets paid for selling a house. The agent gets a percentage of the sale price of the house, and this percentage is set whether the house sells above or below the asking price. In order to attract new home buying customers, the realtors often offer these clients an incentive, the real estate rebate, for working together. This can be a hefty chunk of free cash given to the buyer at closing that can average $2,500 on a sale of $300,000 on average.
Why Negotiate a Real Estate Commission?
If there are realtors in your area giving their clients real estate rebates, it doesn’t make sense to be buying a house and turning away thousands of dollars at closing if you don’t have to do anything except work with a particular realtor. Because so many realtors are taking advantage of this practice because it increases their client base, you only have to shop around to see which realtors are participating and you are set. With the advent of social media, you don’t even have to make phone calls any more to find out, simply post on a real estate group chat you are looking for a realtor that provides real estate rebates.
Using Your New Found Cash
Just imagine all the things you can do with you new real estate rebate check. As soon as you are handed the cash at closing you can use it to pay off the moving company delivering your belongings. Use the money to stock up on feed or make repairs to the house before moving in. Take that check and pay a painter or have new carpeting installed in the house.
The possibilities are endless on how you can spend your cash, just know that if you are not making efforts to find a realtor who is giving real estate rebates, you might be out of luck at closing. For more info visit: gopremierone.com