Real Estate Agent Fees
Difference between fees and commissions
There is a word that helps us to perfectly define the difference between fee and commission, and that is service. And it is that, although it seems to you that both concepts have the same meaning, it has nothing to do with it. A commission is the percentage that an agent receives on the product of a sale or business, while a fee is the amount that the client has to pay for the service provided in the transaction.
If we approach these terms to the field of real estate brokerage, we could say that a commission is, for example, the one charged by an online real estate agency with respect to the sale price of a home by putting the buyer client in contact with the seller; while the fees refer to the entire process of actions carried out by a real estate agent to sell the property.
At REMAX, we always use the term fees, as this is what our agents do: provide a complete service that encompasses the entire property marketing process from acquisition to notary signature, so that you can be relaxed, worry-free and unpleasant surprises
First of all, it is essential that you know that our agents only charge their fees if they have achieved the expected results , that is, in the event that the sale has not occurred, you will not have to make that disbursement. As you can see, therefore, your success is always ours!
In fact, according to the analysis made by “Consumer Choice”, in which RE / MAX Spain has been designated as the brand with the best value for consumers in the real estate category, the fifth attribute most valued by our clients is the fees of our agents. Specifically, 40% of the consumers who have participated in this study choose a RE / MAX Agent for their transparency in their fees (the next real estate agency in this ranking has obtained 13% in this category).
Fees of a REMAX real estate agent
If there is something you should know, it is that our agents work for results, that is, if they cannot sell the property, they will not receive any percentage of the agreed fees. Your success is ours! That is why hiring a REMAX agent is synonymous with guarantee and results. Their fees range between 3% and 5% of the sale price of the property, depending on the type of housing, as well as its location.
All this is only possible under a single marketing modality, and this is through exclusive real estate . The exclusive is a commitment of the agency and the agent with their client. In this way, the agent will do everything in his power to achieve results, which we could translate into selling a property in the shortest time and at the best possible price. Marketing plan, call filter, economic feasibility study of buyers, visits, distribution of the property, positioning of the property, optimal valuation of the house, set-up (home staging), legal and administrative procedures … all this makes a REMAX agent!
It should also be noted that RE / MAX agents are willing to share 50% of their fees with any other agent who has a buyer for their home, but with the advantage of having only one contact person for the sale of their property. You will only deal with your trusted real estate agent but your property will be in many agencies.
In short, and thanks to the exclusive, a REMAX agent puts all its effort, work and resources for the commercialization of a property. This is a guarantee of security for the client, but also for the agent, since he knows that his effort will not be in vain and that his investment in the commercialization of the property will have a guaranteed return.
What are the services that a REMAX real estate agent offers to sell your property?
The answer to this question has a very simple answer, and that we have already mentioned above, through the complete service it provides to its clients.
The attention to calls and visits, the complex drafting that entails the preparation of sale contracts, the monitoring and preparation of the notarial deed, advice on the valuation of the property or on the change of cadastre or supplies , are just some examples of everything that a REMAX agent does, as it provides comprehensive assistance that covers the entire process from the signing of the sales management contract to the notary services.
The valuation of the property is another point to consider. The selling client always tends to value his property above the market price, which incurs an enormous decrease in the possibilities of sale, as well as the slowdown of it. For this reason, a real estate agent who has acquired the exclusive property previously carries out an exhaustive personalized market study for each property, after which a valuation of the same is carried out where the initial sale price is advised. If the acquisition was not exclusive, surely it would not worry so much, since the possibilities of sale are much lower.
The need to establish a filter on visits is an aspect that is hardly taken into account, since in many cases the seller does not notice the fact that not all those who request to visit their home are potential buyers but rather curious or even possible thieves. Before showing a property, an agent performs a rigorous filter to all interested buyers, showing it only to those it considers suitable for purchase.
In addition, during these visits the agent also prepares the home set-up applying techniques such as home staging, that is, decorating and preparing the house for the visits. Paintings, bedspreads … and depersonalization of the home is very common in these actions or even small touches that can make potential buyers feel at home.
In turn, and depending on the needs of each client, the agent also makes a personalized marketing plan with its consequent advertising action plan, also personalized for each client. Aspects, which without a doubt can only be taken if the home is exclusively captured.
Technology has always been one of our great allies, helping us to connect in a more direct and simple way with our clients and multiply the possibilities of success in the sale of your home. But now more than ever it is an essential factor, because to its great advantages is added a vital one: it gives us security by avoiding contact as much as possible, preventing possible infections. Thus, we use the most cutting-edge technology to bring the property closer to the end customer through augmented reality, 360 videos, 3D, virtual visits, etc. and we also use it to analyze and offer your home to the customer through our CRM and big data. you are looking for a home with similar characteristics.
And most importantly… share and collaborate! This does not mean that only he (the agent) can offer that house to his clients and hence close the fence; rather, he will be the representative of his client at all times. In fact, thanks to the MLS or shared property exchange and the REMAX network itself, both nationally and internationally, the property sold will be available to thousands of agents who will be able to offer it to their clients. Of course, the owner will only have to speak with his REMAX agent who will be the person in charge of filtering the buyers and their offers and informing him at all times of the process and negotiating in front of all possible buyers and their agents. In addition, it should be noted thatREMAX agents are willing to share 50% of their fees with any other agent who has a buyer for their house , but with the advantage of having only one contact person for the sale of your property. In other words, if the home is sold by your agent, but the buyer is provided by another agent, that does not affect the fees you have to pay ; It is him, your agent, who distributes 50% of those fees, it costs you the same.
And, you always have to analyze the entire service . An independent agent or a traditional office may charge you 2% or 3% but this commission can be very expensive if all they do is hang the image of the house in the office window and wait for a client Enter through the door. It’s not expensive, it’s very expensive!
All of this leads to:
- The guarantee of obtaining a proper valuation of your home as RE / MAX agents share information about the properties sold and have different reliable witnesses.
- Your property will be for sale in a multitude of agencies with a single price and with identical conditions and characteristics.
- A record will remain in the system of every buyer or person who has visited your property. Having the guarantee at all times of whoever visits your home.
- The commitment of a RE / MAX agent is very high, you always have the guarantee that you will get income for your services even if it is another that the buyer finds.
- RE / MAX Agents work under a code of ethics and international values, so you will have the guarantees of working with well-qualified professionals.
- By having access to a larger network of agents and multiplying the number of buyers, your house will be less conditioned to the offers of a single interested party.
Who pays those fees?
Buyer, seller, both? In addition to analyzing the service that the agent will provide you, it is very important that you also ask this question; Well, there are many, especially buyers, who have found that at the last minute they should face a commission, in this case, it is a commission, since the agent has only worked with the selling client; that it had never been named before.
In the case of hiring the services of a REMAX agent, you will know their fees from the beginning of the process . Making it very clear when signing the sales order; an amount that, in the case of the sale, is only assumed by the selling client, as it is for the person our agent has worked for.
There is another option, and that is that, as a buyer, you hire the services of a REMAX agent to locate the home you want and need, in that position and after signing an exclusive buyer’s contract, you will be the one who assumes those fees, because the agent works exclusively for you
At the beginning of reading this post, we told you that, after reading it, the issue of fees would cease to be a headache. Don’t think twice and leave what is probably one of the most important operations of your life in the hands of a professional: the purchase and sale of your property. Analyze, compare and bet on successful results. Find your trusted RE/Max agent.
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