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What Your Realtor Isn’t Telling You

As any home buyer or seller can attest, finding and working with the right real estate agent is vital to a successful transaction. A great agent should provide counsel and advice, assess the value of a house, coach you through the paperwork, and help you navigate due diligence. There are, however, a few “secrets” of the trade that realtors won’t divulge, and understanding these could save you a lot of time, energy, and potentially thousands of dollars.

Secret #1: The commission IS negotiable.

There is no “standard” or set commission rate in real estate. The typical commission a seller pays ranges between 5% and 6% of the sale price of the home. Most sellers pay between 2.5% and 3% to the listing agent, and 2.5% to 3% to the buyer’s agent. According to the Denver Metro Association of Realtors, the current average home price of a residential home in Denver is $561,999. That means that, when sold under a traditional commission structure, roughly $33,000 of your sale income goes into someone else’s pocket.

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