QUESTION: Good Day Sir! We are planning to sell our house and want to get an Agent to sell our house in our behalf. I just want to ask the standard rate commission to be given to the Agent?
ANSWER: Preset 2.5% to the Advertising Agent and 2.5% to the Buyer Agent. But the best is to sell it fast by offering it at competitive price by avoiding the Agent -- you may use FSBO.
FSBO means "For Sale by Owner". There are many FSBO Listing sites in the Internet. Properties posted in FSBO are assumed to be AT LEAST 5% cheaper than those you can find in Listings operated by brokers because FSBOs have no agent commission and have no overprice. This makes FSBO attractive to buyers.