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Do I really have to pay 6% to sell my home?

Do I really have to pay 6% to sell my home?
Do I really have to pay 6% to sell my home?
Tom Priester

You certainly can.....if you want to

But the real answer is you do not have to. In fact, I will go out on a limb and say if you do pay 6% you are paying more than you have to. To prove my point, in my hometown of Jupiter, during the month of April a total of 200 properties were successfully sold. Of those, 107 offered a 3% co-broke commission (6% total) and 87 offered a 2.5% co-broke commission (5% total). You would not believe how much money we are talking about when you add up that extra 1% on 107 sales in Jupiter. Lots of money. almost 45% of all sellers did not contribute to that pile of cash. If you want to contribute you can.....if you want to.

We have a passion to raise the quality and value of real estate services available to everyone. You can pay more and receive less but that would not make any sense. Would it? However, you have to understand that there is more to the sale equation that what you pay. You also have to get what you pay for.

I have painstakingly gone through each of these listings and analyzed what sellers got for their money in the way of marketing. I am being generous when I say that less that 5% of these listings received what I would call excellent presentation in the form of quality professional photographs and a description that paints a story of the property. It didn’t matter if that seller paid 5% or 6% the vast majority didn’t get value.

Consider that 86% of all buyers shop online for real estate. Guess what draws their attention? Quality high definition photos taken when the sun was shining. Descriptions that made them want to learn more about that house. If you are not getting those basic services then in my humble opinion you are paying too much no matter the agreed upon commission.
No doubt it is a two way street as we all have listings that do not justify the expenditure of hundreds of dollars on professional photographs and virtual tours. The reality is the agreed upon commission should be determined by how much effort your agent has to put into the sale of your home. An overpriced home will take more effort. A home in poor condition will typically take more effort. Expect to pay more. A home in pristine showing condition takes less effort. A home that is properly priced takes less effort. You should pay less.

Just know that almost 45% of sellers in Jupiter during the month of April paid less than 6%. If you want to pay more you certainly can.....if you want to.

Fins up......

Tom Priester
Principal Broker

Paradise Sharks Real Estate