explains: “Every company has a commission fee that they charge. Fees vary. There’s not any fee that is locked in. Those fees can be negotiable, you’re going to see everything from 7% to probably 3%, and it’s like the saying goes, ‘You get what you pay for.’...
Until then, you won’t owe any money to the real estate agent. For buyers who have negotiated a commission with their agent, the Realtor fee will be paid as part of their final closing costs. Does the agent get to keep the full commission? In cases where the seller agrees to pay the...
Similarly, in the real estate sector, most of the states do not allow paying a finder's fee to a non-licensed realtor. Regulatory Compliance and Ethical Considerations Compliance with federal and state laws is essential for brokerage agreements. Ethical considerations, such as avoiding conflicts of...
Down payments are an essential part of the homebuying process. Find out how it affects your mortgage and get tips to turning your home goal into a reality.
Most VA loans are “assumable,” which means you can transfer your VA loan to a future home buyer if that person is also VA-eligible. Assumable loans can be a huge benefit when you sell your home, especially in a rising mortgage rate environment. If your current mortgage loan has a lowe...
One significant benefit of working with a real estate agent from Leptos Estates is their deep market knowledge. Our agents really know the local market. They understand property values, current trends, and what is happening in different neighbourhoods. This knowledge helps our clients make intelligen...
Although the term is easy to understand, the practice can become complicated, mainly if the deal falls through. Both buyers and sellers need to understand the ins and outs of earnest money. From my experience working as a real estate agent for the past thirty-eight years, I know it is an...
How long is PMI required? PMI is required until you reach 20% equity in your home. It is automatically canceled when your loan balance drops to 78% of the home's original value. What's the difference between mortgage insurance and homeowners insurance?
Over the years, the association’s name changed several times until, in 1972, it became the National Association of Realtors. Today, its mission is “to help its members become more profitable and successful,”2by "influencing and shaping the real estate industry";4advocating for "the right ...
What Is the Typical Brokerage Fee for a Real Estate Deal? Realtors and real estate brokers typically charge around 5% to 6% of the selling price of a house. This is often split between the seller's agent and the buyer's agent. Some discount real estate brokerages may charge a lower rat...