5 Benefits of Hiring Low-Commission Real Estate Agents
Whether you’re looking to buy a house or sell your family home, real estate transactions involve a lot of money and can be incredibly stressful. Finding the right real estate agent that you trust can be a challenging task.
Hiring a low-commission real estate agent may provide you with the best of both worlds; someone who is reliable and trustworthy but won’t put a hole in your wallet.
In this article, we will explore the 5 benefits of hiring low-commission real estate agents so that you can make an informed decision about which agent to hire.
What Is a Low-Commission Real Estate Agent?
Low-commission agents often work independently, meaning they are not affiliated with any particular broker. Unlike traditional agents who may charge commission rates of up to 5% for their services, low-commission agents will generally charge lower fees.
The amount that is charged by the low-commission agent can vary depending on the nature of the transaction and what services are being provided. Typically, these fees range from 2% to 3% of the sale price of the property in question.
In fact, there are some low-commission real estate agents whose fees are as low as 1%. This can be beneficial for those looking to save money when buying or selling a home since it can result in significant savings compared to traditional agents.
The Benefits of Hiring a Low-Commission Real Estate Agent
Now that you have a better understanding of what a low-commission real estate agent is, it’s time to talk about some of the benefits of hiring one.
#1 Save Money
Hiring a low-commission real estate agent can be an effective way to save money when buying or selling a home. Low-commission agents typically charge only 2% to 3% of the sale price and are generally more budget-friendly than traditional real estate agents who charge 6% or 7%. This can be especially helpful for those who are looking to save on costs associated with closing on their new home.
The savings from hiring a low-commission agent can add up quickly, especially for those who are selling a higher-priced home. According to Zillow, the average commission rate ranges between 5% and 6%. So, if you’re selling a home worth $400,000, you could save around $10,000 in commissions by hiring a low-commission agent.
#2 Ensure the Buying/Selling Process Goes Smoothly
The process of buying or selling a home can be overwhelming and stressful, but hiring a low-commission real estate agent can help to ensure the process goes as smoothly as possible. Low-commission real estate agents charge lower commission fees than traditional agents and are willing to negotiate on the final fee. This makes it easier for buyers or sellers to save money and have more control over their budgets.
Plus, low-commission real estate agents provide expert guidance throughout the entire home buying or selling process, from finding properties that meet your needs to negotiating prices and closing contracts.
Low-commission real estate agents also have access to detailed information about existing market trends in areas where you may be interested in purchasing or selling property. This knowledge helps them guide clients through the best offers available so that they can make informed decisions with confidence.
#3 Low-Commission Real Estate Agents Are Licensed
Some people may be under the impression that low-commission real estate agents aren’t as qualified as traditional agents, but that isn’t the case at all. Low-commission agents have the same credentials and licensing requirements as any other broker in their state. They must pass examinations to become licensed and adhere to state laws governing real estate transactions.
On top of that, they must maintain current knowledge of local housing markets and trends by taking continuing education courses throughout their career. This ensures they can effectively match buyers with homes that meet their needs and negotiate on behalf of both parties during negotiations.
#4 Access the Latest in Real Estate Technology
When it comes to finding a new home, most people begin their search online. And with good reason — the Internet provides a wealth of information that can help you find the right property. However, working with a low-commission real estate agent gives you access to the latest in real estate technology. For example, many of the top real estate agents now use drone photography to give potential buyers a bird’s-eye view of properties.
This technology can be particularly helpful if you’re looking for a home in a large and unfamiliar city. In addition, many agents now use 3D virtual tours to give buyers a realistic sense of what a property looks like.
These tours can be especially helpful if you’re considering a fixer-upper or if you want to see how your furniture would fit in a new space. By working with a low-commission real estate agent, you can be sure that you’re getting the latest and greatest in real estate technology.
#5 Only Get the Services You Need
In addition to offering lower commission rates than traditional agents, low-commission real estate agents also provide custom services tailored specifically for each individual client.
These services can include everything from helping clients find properties in their desired area at affordable prices, negotiating with sellers on behalf of buyers, staging homes for potential buyers, preparing contracts and closing documents as well as providing guidance during every step of the process.
The Right Low-Commission Real Estate Agent Is Waiting for You
If you’re in the Whitby area and you’ve been wondering, ‘how can I find real estate agents near me?’ we’re happy to help. At James Jenn Real Estate, we offer affordable services thanks to our experienced team of low-commission real estate agents in Whitby. Contact us today to learn more about what we can do to help.