Why are Realtor Commissions So High?
Many people are surprised to learn just how much it costs to sell a home in Las Vegas. Between house staging, closing costs and application fees, everything adds up quickly! But usually the biggest expense associated with selling a home is the realtor commissions.
Realtors in the United States charge commissions that are higher than in most other parts of the developed world. On average, these commissions are at 6 percent, split between the buyer and seller agents. That means for a $300,000 home in Las Vegas, real estate fees would equal $18,000.
Let’s explore some of the reasons why realtor commissions are so high and if there are any ways to avoid them when selling your Las Vegas property.
Realtors are paid professionals.
Even though there are cheaper ways to sell a house, working with a realtor is the go-to method. And we certainly understand why. Real estate agents are professionals who understand the local market. They handle all of the marketing and navigate the entire transaction, which means you always have someone advocating for your best interests. In exchange, they get a cut of your home sale.
Realtors can get you more money.
Another reason why real estate agents charge a high commission is because they can help you get more for your home. Their knowledge and background, coupled with their understanding of common negotiation tactics, help homes sell faster and for top dollar. This means more money in your pocket, and ultimately, theirs too.
You’ll get greater exposure for your home.
As experts, realtors have a lot of tools at their disposal. One of them is the MLS, which is the first place realtors start looking when finding properties for their clients. Listing your home on the MLS offers the greatest exposure because it’s actively marketed to all realtors and is automatically displayed on third-party sites like Zillow and Trulia.
How to Sell Your Las Vegas Home with NO Realtor Commissions
Real estate agents put in hard work. They are also effective negotiators, and they are available to do showings, assist with paperwork and answer questions. In exchange for their effort, they get a portion of your home sale.
But what if you’re not in a position to pay a realtor? These commissions add up and can actually cause you to come up short if your realtor is requesting other things like home staging and repairs. A better option may be to sell your home as-is to a cash buyer.
Cash home buyers use their own money to buy properties. You get to keep the full cash offer as there are NO commissions or fees. And, these sales are as-is, so you don’t have to do anything but move out! To request a free cash offer from We Buy Any Vegas House, contact us today!