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Deciding to sell your house in Orlando is a big decision – one you may want to make with the help of a professional REALTOR®.
In Florida, typically the commission rate is 6% of the final sale price of the home that is paid out to them once the deal closes. 6% is split 50/50 between the seller’s agency and the buyer’s agency.
6% of the final sale price of the home will be split in half to the seller’s agency and the buyer’s agency, meaning each will get 3%. Depending on the agreement your agent has with their brokerage, that could mean splitting the 3% in half again.
Examples:If you are paying a full-service agent, their commission rate involves how they are marketing your home. This could include various materials and advertising on platforms like:
Do not feel guilty about asking your real estate agent to lower their commission. They should be upfront and honest about the subject with you too. They will explain why they can or cannot budge on their commission rate, and if they do lower it, they should tell you what services you may be losing.
When you are interviewing different agents and deciding who to hire, ask them about their commission rate then. That way you can compare their answers.
How long your home stays on the market can depend on a number of things including if it is a buyer’s or seller’s market, the location of your home, the state of your home, and who your REALTOR® is.
As of February 2019, the average priced home in Orlando is $235,000 and could potentially sit on the market for approximately 19 days.
You are not obligated to pay your agent if they cannot successfully close the deal.
Technically the sellers are paying the agent, seeing as their commission rate will be included in the listing agreement, so you are not paying them directly.
In Orlando, typically the commission is 6%, half of which will go to the listing agent and the other half to the buyer’s agent. The commission is usually negotiable, and you should bring it up as you are interviewing different REALTORS®. Agents will explain to you why they cannot change their rate, especially because it will affect how they can market your home.
Disclaimer: rates and prices subject to change.
