How can you save money on real estate commissions?
These steep real estate agent costs can significantly drive up the overall cost to both sell and purchase a home. While these costs are a hard pill to swallow, there are still several avenues that buyers and sellers alike can negotiate with their respective realtors. Firstly, you can do just that- negotiate. There are no set laws in place that dictate what percentage of the purchase price a commission has to be, so you could try to haggle down your real estate agent. However, there’s a good chance that they will be unwilling to change their commission rate- there’s no law that dictates them to agree to your negotiation, either.
Another option (that likely has a higher success rate) is to work specifically with a real estate group that offers commission refunds, like TREND Real Estate. When you buy with TREND, you’ll receive a 50% commission rebate.