The Beautiful. The Land of the Free. The Home of the Brave.
As an entrepreneur, the risks you run and the ladders you climb embody the very spirit of our nation. There is nothing more American than being able to work hard and savor the reward. You work everyday to manage your investments wisely yet profitably. But sometimes, no matter how hard you work, you still find yourself at the end of the day with an overhead that overshadows your income.
Whether the market is good or bad, one thing remains the same—fees. You can avoid them much the same way that you can avoid taxes. That is to say, you can’t. Title Company or attorney? Real estate agent or FSBO? The choices are often complicated, obtuse, and very expensive. Follow this guide on how to save money in broker fees.
How to save money in broker fees: 3 Easy Steps
For Sale By Owner (FSBO)
The first and easiest way to save money is to do the work yourself. You pay for that little sign in the front yard with the large picture of some smiling real estate agent on it. You pay for the name and the reputation. With a for sale by owner, you have the freedom to choose what you pay. Just be aware that it takes work. Saving money always takes work.
4.5% Commission– Guaranteed!
Many real estate agencies charge for MLS listings and closing papers on a case-by-case basis. You might walk away thinking that everything has been paid and accounted for, only to find that there were fees you were unaware of. Or, god forbid, you sold a property for more than anyone anticipated! Those fees will come jumping out of the woodwork, threatening your bottom line.
What you want is an agency that charges 4.5% commission. You know exactly what you are going to pay for the title papers, the MLS listing, and even a la carte showings by a real estate agent! That is the best advice we have on how to save money on broker fees. So, while saving money takes work, there are people out there that can help. For example,
There are broker companies that charge sellers 4.5% commission (down from the average 6%!), while still providing full service. If you are an FSBO, most companies will not even consider helping you at that rate, if at all!
When you ask yourself how to save money in broker fees, this is the answer. That 1.5% difference makes all the difference in the world.