#THECLOSERSDAILY : EPISODE 156: COMMISSIONS EXPOSED P2

Little secrets about real estate commissions, part two. So yesterday we talked about the breakdown as far as how commissions work from the lister's side and the buyer's side. In this episode we're gonna talk about ads that you see out there that say, oh we can sell your property for 1% commission or a number that seems really, really low. And how do they go about doing that? Well a lot of times, what they're doing is they're actually advertising the listing side of the commission. So remember yesterday, we broke it out into two parts, there's the listing side of the commission, and the cooperating brokerage fee A lot of times they may come in and say it's 1% for the listing side of the brokerage, or maybe a half point. But then we still have to give away 2% in order to get the cooperating brokerages or buyers to come in, where there's a large likelihood of that actually happening. So your actual ending commission fee is gonna be inclusive of that cooperating brokerage fee. Other thing that I wanted to point out is always be aware of contracts you're signing that have breakage fees, sometimes the higher-end commission agents are only getting paid if they actually sell the property, whereas some of the lower commission brokerages will actually have breakage fees if you need to get out of the contract.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”