Real estate commissions can be a controversial topic. While it's common knowledge that agents earn a commission from the sale, what may not be as apparent are the various overhead expenses that this commission covers. Many of these expenses help ensure they can sell your home more quickly and for a better price than you may be able to get without their assistance.
Marketing is a vital aspect of selling a house, and real estate agents invest significantly in this area. This includes professional photography, staging services, creating virtual tours, printing brochures and advertising the property on various platforms, some of which charge varying rates for ads. These marketing efforts are designed to maximize the exposure and appeal of your property, attracting the right buyers and potentially increasing the sale price.
The cost of some of these marketing methods may also be influenced by the length of time your home is on the market. In other words, incurring slightly higher marketing costs upfront for a campaign that only needs to run a week might end up costing far less than a campaign that lasts several months.
The MLS is a powerful tool in the real estate industry, providing extensive exposure to properties. Agents pay to access and list on MLS and other listing websites, which is a critical component in ensuring your property reaches a wide audience of potential buyers and real estate professionals.
Real estate agents incur regular office-related expenses. These include office rent, utilities, office supplies and support staff salaries. Even those working for larger brokerages must chip in to cover these costs as part of their arrangement with the brokerage firm.
Most states require real estate agents to renew their license every two years, and there are always fees involved with license renewal. While not every state requires real estate agents to pass a test for license renewal, they all typically require proof of continuing education.
For example, real estate agents in New York must show proof that they completed at least 22.5 hours of continuing education for renewal every two years. In California, where real estate licenses last for four years, the Department of Real Estate requires home sellers to show proof of 45 hours of continuing education for license renewal.
Agents need to have various types of insurance, like errors and omissions insurance, to protect themselves in case of legal disputes. They may also incur legal fees for things like contract reviews and other legal consultations necessary during the home-selling process, especially if they’re representing homeowners in particularly complex transactions.
Real estate agents incur the same type of run-of-the-mill communication-related overhead as any other business, with expenses like cell phone plans, internet services and client management software. Many agents also spend a lot of time driving between properties, which means high maintenance and fuel costs.
Real estate professionals invest their time, expertise and resources to ensure that your property is sold for the best possible price as quickly as possible. There’s an art to selling homes, but unlike other forms of art where value is subjectively assigned by the viewer, the skills of a real estate agent can be objectively measured. Simply put, agents who are good at their job get higher bids more quickly.
One of the distinguishing characteristics that sets 72SOLD apart from other real estate companies is the quality of our agents. We find local real estate professionals with proven track records of maximizing value for home sellers and justifying their commissions through their tireless pursuit of the best bids.
Do you want to sell your home, but you’re not keen on paying a commission to a real estate professional? A good real estate agent is more than just a middleman who does paperwork – they leverage their industry experience and market knowledge to ensure homeowners maximize their ROI.
The 72SOLD system executed by our highly trained and experienced real estate agents is a labor-intensive process that requires focused marketing efforts to be performed on a strict timeline. Adherence to this process is how we’re able to consistently and quickly get our clients multiple solid offers that are, on average, higher than the bids competitors collect. We also provide invaluable assistance and guidance to clients during negotiations with buyer’s agents and home shoppers.
You should always ask a real estate agent about the cost of their services and the fine print you agree to when contracting with them. At 72SOLD, we’re committed to transparency and honesty in our dealings.
7333 E. Doubletree Ranch Rd.
Suite 100
Scottsdale, AZ 85258
844-990-7272
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