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The real estate commission in Florida is typically 6% of the final sale price of the home, which is split 50/50 between the buyer’s agency and seller’s agency.
When the 6% is divided evenly between the buyer’s agency and the seller’s agency (3% each), that does not mean your agent is getting the full 3%. Depending on the agreement with their brokerage, that could be split in half again, so they could end up getting 1.5%.
Examples:Full-service agents in Florida are dedicated professionals who use as many marketing tools as possible to get your home sold quickly, and for a great price. Of course, commission is usually negotiable, but you truly do get what you pay for. Asking to pay them a lower commission could affect things like:
It can vary depending on the time of the year, location, and who you hire! If your home is listed at the average sale price in Tampa, which is currently sitting at $222,000, you could expect to see your home on the market for 35 days. If you are selling in a really hot market, it could be on the market for 11 days. In December of 2018, the average priced home was $249,000 and sat on the market for around 65 days, so hiring a local expert explain to you what the market conditions are like and what to expect are very important.
No, you are not paying them directly. Their commission is paid through the listing agreement.
Your REALTOR® strictly gets paid when they close a successful deal. You are not obligated to pay them otherwise.
In Tampa, Florida, the typical real estate commission is 6%, which is split evenly between the buyer’s agency and seller’s agency. Paying your full-service agent means you are paying them to fully market your home with professional photographers and stagers to show its full potential to buyers. Costs like having your home advertised on various social media platforms or ads in magazines will also be covered. But do not be afraid to bring up lowering the commission rate to your agent – they will not be insulted! They know being on a tight budget can be tough, but that is why they want to get you top dollar for your home.
Disclaimer: rates and prices subject to change.
