Updated: Feb 25, 2020
One of the biggest myths in real estate is that a seller must compensate their agency a commission percentage of the sales price of their home. FALSE! There is no law that dictates how real estate agencies are to be compensated. Traditionally, sellers have paid their agency a commission of typically 5 or 6%. This is a standard that is set by the majority of agencies. The actual compensation between a seller and their agent is completely negotiable. The agent may have limits and rules set by their broker but no law breaking if you, the seller, can negotiate yourself a 4% commission rate or even a set flat fee. What about hourly rates for listing services? Yes, hourly compensation is completely acceptable! It's break through and innovative and it's saving homeowners thousands of dollars!
So before you list with any agency, shop around. Everyone loves getting a great deal so why not when you sell your house, too?