In order to be listed on the MLS, home sellers are required to offer a Buyer’s Agent Commission.
But you only have to pay that commission if your property is sold to a buyer who is represented by an agent. If the buyer does not have an agent, you don’t pay a commission AT ALL!
The average commission is 2-3%, so we usually recommend that you offer in that range.
Think about it this way, a buyers agent job is to find homes for their buyers but they also want to get paid for their time and effort, just like you do at your job. Motivate all the buyers agents out there to work FOR YOU by offering a 2-3% commission and get your home sold.
About the Author: Kris Lippi is the owner of ISoldMyHouse.com, the broker of Get LISTED Realty and an official member of the Forbes Real Estate Council. He actively writes about real estate related topics such as buying and selling homes, how-to guides for around the house and home product recommendations. He has been featured in Inman, Readers Digest, Fox News, American Express, Fit Small Business, Policy Genius, Lending Tree, GoDaddy, Manta as well as other major websites. Read more about us here.