Wade Kovacic • Local Real Estate Agent
Learn what a low, 1% listing commission* is and what it can do for you.
When you sell your home, there are typically two real estate agents involved:
01. The “Listing Agent”, who works for you and sells your home.
02. The “Buying Agent”, who represents whoever actually buys your home.
As payment for their services, each agent will receive 2.5% of the final selling price, so the total you will pay in agent commissions is 5% (2 X 2.5%).
If your home sells for $900,00.00, for example, you would pay $45,000.00 in total commissions.
The two agents involved would then split that total commission and receive $22,500.00 each.
Here is how it normally works:
This couple is selling their home in Durham Region and will need to hire a “Listing Agent” to help them with everything involved.
They have an idea as to what it might be worth, but don't know much about how everything works and just want a smooth transition.
Whichever agent ends up listing it will appraise its actual value by assessing it against similar neighbourhood sales and will set a market price.
The selling price is always adjustable and can be raised or lowered.
“Listing" agents represent the home sellers and take care of legal things, listings, home showings and negotiate to sell the home for the highest possible price.
In southern Ontario, “Listing" agents traditionally receive 2.5% of a home’s final sale price for their services.
This couple wants to buy a house in Durham Region and have hired a “Buying Agent” to help them with everything involved.
Most agents can perform both buying and selling roles.
“Buying" agents represent the home buyers and take care of legal things, finding homes to view and negotiate to buy the home for the lowest possible price.
In southern Ontario, “Buying" agents also traditionally receive 2.5% of a home’s final sale price.
Both agents work independently of one another and the “Buying Agent” still receives 2.5% of the final selling price.
But, if you hire Wade as your “Listing Agent”, his fee is reduced to just 1% (instead of 2.5%).
And that is where you save the 1.5% off the total selling price of your home.
OR, instead of paying a total of 5% in commissions, you would now be paying 3.5%.
In the above example, this would save the home sellers $13,500.00.
Paying just 1% - instead of 2.5% - for your listing commission while selling your home might not sound like a lot at first, but it quickly adds up and amounts to quite a lot when compared to the average home selling prices in the Durham Region area.
You really don't have to pay 2.5% any more and you can still receive all of the services you'd expect from your listing agent.
Give me 15 minutes of your time and I'll explain why I'm the best choice when selling your home.
Please be assured that any information you send remains private and that I do not trade, share or sell it with any third parties.
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Telephone: (905) 649-3900
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