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How Real Estate Agents Earn Their Commission

Posted on Wednesday, October 11, 2017
A realtor can help you in your ongoing search for a home, but are a realtor's services worth the commission?

A realtor just shows up, shows the house, and walks off with a commission, right? Wrong. While it looks like a realtor has a very simple job, if you are working with a realtor, that person is doing a lot for you. When it comes to negotiating a deal on your house, a realtor really earns that commission. Here is what a realtor does to earn a commission.

A Realtor Understands the Housing Market

If you are buying a house, a realtor can let you into the insider secrets that those who work in the industry know. For instance, if there is a home that you love, the realtor can tell you what you need to offer in order to have a likely possibility of having your offer accepted. If you are selling your home, the realtor can let you know what buyers are looking for so that your home can be in the best possible shape. The realtor can also help you stage the home so that you will receive a higher offer. You could find a better property or sell your house for more because you are working with someone who is knowledgeable about the local market.

A Realtor Markets Your Home

Marketing homes is a lot more complex than placing an ad in the paper. Today, realtors coordinate photos of the home so that it not only goes into paper listings but onto a website and social media. Realtors are also able to field calls from interested buyers and hold open houses for realtors and the public. You probably do not have the time to do all of this work; that is the realtor's job.

A Realtor Negotiates

Unless you are a professional negotiator, the idea of buying or selling a house and the ensuing negotiation can be painful. A realtor meets with and interviews prospective buyers, plans showings, and navigates negotiations for that property. Negotiation is a key part of the real estate agent's work. Realtors are able to understand both parties' positions but work for you specifically to find you a home or sell your home at the price you want.

A realtor understands what laws and paperwork are involved in buying or selling a house.

A Realtor Coordinates and Files Papers

There is a lot of paperwork associated with buying, selling, or renting a house. Your realtor helps you with this. A realtor completes, submits, and files paperwork, such as real estate documents, agreements, and records with the proper state agencies. This is an important job that you must do in order to complete real estate deals and comply with regulations. Your realtor has done this many times and knows what paperwork has to be completed to move through the process.

At Open for Homes, we are focused on helping you sell, buy, or rent a home. No matter what kind of home you are looking for, we will help you make the right decision. If you are buying a house or selling a house, take a look at the blog at Open For Homes for more information.

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