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Feb 21, 2024 · Edited by Steve Nicastro. A listing fee, also known as a listing agent commission or seller's agent commission, is the fee paid by the seller to their real estate agent from the proceeds of their home sale. On average, the listing fee amounts to 2.83% of the final sale price, based on Clever's survey of over 600 real estate agents. [1]
Dec 26, 2016 · If you can’t lower the listing fee, raising the price of the home will increase the amount of money you receive from the sale. Experts at Freakonomics share that holding out for as little as another week can add another $10,000 to your asking price. This added price cushion helps sellers cover the cost of a fee.
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Jun 22, 2023 · The cost of a listing fee can vary considerably, typically ranging from 2.5%–3% of the final sale price of your property. For instance, if you’re selling a home for $400,000 with a listing fee of 3%, you could expect to pay $12,000 in listing fees. However, these fees represent the fee paid to the listing agent.
- Richard Haddad
- As-is. If you see the words “as-is” in a real estate listing, proceed with some caution: This typically indicates that there are repairs or renovations that need to be done that the current owner is not going to address and is passing the burden off to the buyer.
- Built-ins. Built-ins are features like bookshelves, benches, or cabinets that are permanently built into the home itself, and are fairly common in older construction.
- Cozy. While this descriptor may bring to mind a comfy armchair and a steaming mug of cocoa, in real estate, “cozy” tends to mean “small.” The home may have minimal square footage, meaning each room may have very limited space.
- Charming. “Charming” is often another code word for a house with a small footprint, and may also indicate an older construction — which may, indeed, be charming, but might also end up needing costly repairs and renovations.
Apr 20, 2018 · Two Unit (2UNIT) – May be side x side or up and down. Often a duplex converted to a condominium or coop. Converted Mansion (CNVMN) – Converted single-family home with three or more units. Hopefully this glossary of residential real estate listing descriptions and terms has helped to decipher some abbreviations for you.
Aug 18, 2022 · This fee covers the cost of things like document storage and management. “A transaction fee is an amount that a brokerage will charge to each transaction regardless of who pays it,” Higgins ...
Nov 13, 2023 · A Realtor is a real estate agent who is a dues-paying member of the National Association of Realtors. NAR members are held to a high standard of professionalism and adhere to a strict code of ethics. Refinance. If a borrower takes out a new loan on the same property, it’s called a refinance.
