You’re probably familiar with the traditional home sale, where commission and other costs are deducted from the sale price at closing. You walk away with much less money for your house than you were offered. However, if you sell to a fast home buying company instead, you will never be charged commissions.
What Is Commission?
In the real estate business, agent commissions are payments that go to cover the salaries of the brokers and agents you worked with. It may also be used to pay the real estate company for marketing costs.
With most sales, the commission is a percentage of the sales price. It varies from one location to the next, but it averages somewhere between 5 and 6 percent. If you agree to sell your home for $100,000, and the commission is 5 percent, you will receive only $95,000. Then, other costs may also be subtracted.
Why Don’t You Pay Commission to a Home Buying Company?
Home buying companies don’t charge commission because they don’t have to. They don’t employ sales agents or brokers, and they don’t market your home to the public. You are making a direct sale from you, the homeowner, to the home buying company. At closing, there will be nothing deducted from your proceeds for commission. With a direct cash home sale, you will receive the full sales price you agreed on.
What Other Expenses Can You Save When Selling to a Home Buying Company?
Selling a home the traditional way isn’t cheap. First, you have to pay for any needed repairs and spruce up the house for photographs and showings. You’ll invest a good amount of money before you can even list it. Then, in addition to the commission, there are other closing costs.
A cash home buying company will purchase your home in its present condition, and you don’t have to clean it up. At closing, the company will pick up any closing costs. It won’t cost you a cent.
Selling your house without paying commissions is just one advantage of dealing with a cash buying company. The process is fast, simple, and straightforward. If you think it might be an option for you, do your research to learn if you can save.
You won’t get charged commissions when you sell your Spokane area home to the Easy Home Buyer. Click here to find out more!