Misconceptions About Real Estate Commissions

Michael Carr Home & Garden , Real Estate Leave a Comment

Mickey's home

Does it really cost you more to have a real estate agent?  What if the buyer has an agent, too?  Do you pay double the commission?

The answer to the first question is that it could actually cost you a lot if you don’t have proper representation.  Our agents are trained to know the market, the real estate process (from contracts to inspections to closings) and even negotiation tactics that can save you time, money and frustration.  In fact, the numbers prove that using a Realtor is not only a wise choice but a necessary one for most.  How do we know?  Approximately 70% of the people who attempt to sell their own home (commonly referred to as FSBO’s–For Sale By Owner) will give up attempting to sell on their own and hire an agent within the first 30-60 days.

There is just no replacement for having someone on your side who knows every facet of the real estate process.  In the end, it could end up costing you a lot more without an agent.  It could take longer to sell your home.  Your home may be under-priced, which means you’re leaving money on the table.  Your home may be over-priced, meaning it will take longer to sell (if at all).  You may experience delays if you don’t understand all parts of the process, including inspections and closings.

Another common misconception is that having a buyer’s agent costs more.  Actually, there is only one commission per transaction.  The seller’s agent either gets 100% of that commission or they have to split it with your buyer’s agent.  We can’t overstate the point enough that each person (both buyer and seller) should have a representative in the process.  That person is someone who has your own specific best interests in mind and is contractually obligated to represent you throughout the process.

If you’re looking for expert guidance and assistance with your real estate transaction, please let us know.  With the confidence of over 68,000 transactions, we have the experience you’ll need to breathe easy and know your interests are protected.

About the Author
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Michael Carr

Michael Carr is America’s Top Selling Real Estate Auctioneer. He has been an auctioneer since 1991 and has sold billions of dollars in auto, heavy equipment, land, commercial and residential properties. Since becoming a licensed real estate agent in 1994, Michael has been actively involved in the sale of over 78,000 homes and licensed in as many as 27 states in the continental U.S. as a broker and an auctioneer. Overall, he has conducted over 8,400 auctions throughout the last 28 years. Michael is a former Senior Vice President of Brokerage for Auction.com and personally conducted over 2,000 auctions during his tenure there. He resigned from that post in order to continue to expand his own companies, focusing on a more customer service oriented direction. Michael Carr & Associates, Inc. was founded in 2000 and serves as the umbrella corporation for his auctioneer practice and real estate company. He currently spends part of his week traveling to consult investors or conduct auctions, while balancing the rest of his time at his Jefferson, Georgia headquarters. Michael also co-authored a marketing and personal branding book called ”BrandFace® for Real Estate Professionals (Be the Face of Your Business & a Star in Your Industry), and is currently scheduling a book and speaking tour. See www.BrandFaceRealEstate.com for more information. He is available for interviews and appearances on the subjects of real estate investment, real estate management, real estate marketing and auctions. View the video below to learn how Michael Carr got started, and what keeps him motivated to stay on top and continue his passion for his craft after 28 years as one of America’s premier auctioneers.