You won’t need to pay for these commissions upfront, but they will be subtracted from your profit at closing. Thus, you, the seller, traditionally pay commissions for both agents participating in the sale.įor example, if your home sells for $200,000, you would pay $12,000 total - $6,000 to each agent. While commission rates can vary by state, you’ll usually pay about 6% of the final sales price in agent commissions - with 3% going to your listing agent and 3% going to the buyer’s agent. Generally, each party - buyer and seller - has their own agent to negotiate and advocate on their behalf. Commissions can sometimes be unexpected costs for home sellers. Let’s start with the largest cost of selling your home - commissions paid to your real estate agent and the buyer’s agent. We’ll guide you through all that in this article, so keep reading! Looking for another way to save money during your move? Check out our coupon codes to save more on moving There are many hidden costs to selling a home but also some ways to reduce those costs. Zillow actually estimates that selling a home costs $20,851, on average, while other experts estimate you’ll pay 10% of your home’s final sale price in closing costs. Congratulations on deciding to sell your home! Whether you’re upgrading, moving to a new area, or simply finding a place that better suits your needs, moving can be a welcome change and an exciting time.Ī word of caution, though - selling your home isn’t as simple as accepting an offer and pocketing the cash.
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