The average price of a realtor is between $0 and 3%. I promise you that you can find a real estate agent who would reduce their commission on either side of the transaction. There are discount listing agents, discount buyer agents and everything inbetween.
The question you must ask yourself is 'What is my agent worth?' The top 20% of real estate agents and their respective teams are worth the standard commission especially if you have less than 25 real estate buys and/or sells under your belt in the same metropolitan area. An exampe: I have over 35 personal buys and sells under my belt; I still utilize a top 20%% Realtor in all transactions except for commissioner sales. There is always something new, something different and something quirky about each transaction that I want the expert advise and guidance to help me thru.
The main ways that the top agents help you and earn the full commission without discounting in my experience are: 1. Seller discrepencies in their disclosures 2. an E&O policy if you were missinformed 3. A buffer between me and the seller in case I was to say/ do something unintentionally that could harm myself- they catch you 4. alert you to areas of concern in each transaction ('maybe you should think about a structural opinion on this house'- ex) 5. A working knowledge of ways to craft the negotiations that you may not have known about
In a perfect world we would be able to buy and sell a house all on our own; this perfect world is shattered when we introduce less-than-honest individuals or homes that have unknown issues beyond the seller's knowledge.
We've all heard the phrase 'You get what you pay for.' and that includes real estate sales.
Find a top realtor that you feel comfortable with. Ask for their credentials and a snapshot of the sales they've performed in the past year. Found a newer agent you feel comfortable with? That's ok, inquire about their mentor in the business.
The same will hold true for your home inspector, mortgage planner, insurance agent, etc.. Surround yourself with top professionals, have yourself a written game plan for yourself and enjoy the journey!
Nick Ellis, CMC, CRMS, CDPL
Benchmark Mortgage Branch Manager