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There's been a lot of discourse about agent commissions over the last six months, and you'll have seen many headlines claiming you "no longer need to pay 6% agent commissions". So... let's talk about it ⬇️
Let's clear this up... you didn't actually ever have to pay 6% comission to the real estate agents when selling your home. That was a common fee, but this was always negotiable, and the amount was usually split between your listing agent and the buyer's real estate agent. Sometimes it might've been 8%, sometimes as little as 4%! With recent real estate changes, the 'split' between listing agent and buyer's agent has been decoupled.
The changes put more of an onus on the buyer to pay for their buyer's agent. And it gives you, the seller, the freedom to negotiate with the buyer's agent directly, rather than your listing agent specifying how much commission goes to them.
That means, if you so choose, you do not have to pay anything towards the buyer's agent, and simply pay your JFKLiving listing agent the 3.5% commission. Watch Pip Haxby-Thompson's video below for more information ⬇️
With the abundance of choice you have when it comes to selling your home, it's important to understand every facet of the process. Complete the form below for a no-obligation phone call with our team of experts.