Facts on Home Selling
  • Agents, Brokers, & Realtors: Real Estate Agents are licensed to represent buyers or sellers. Real Estate Brokers are licensed also and typically manage agents. Realtors are members of the board of Realtors who subscribe to a code of ethics with accountability.
  • Split Commission: Real Estate Commissions average 6 percent of a home's purchase price. The seller pays the commission which is divided between the two real estate brokerages involved in the transaction, then split again between the brokerage and the Agent/Realtor. All Real Estate commissions are negotiable.
  • Offer and Deposit: You are not required by law to make a deposit when you submit a contract, but most agents will expect you to include a deposit with your offer proving you are a serious buyer.
  • Getting to ‘Yes': When you sell your home through a Realtor, the agent will be the conduit for all purchase offers and negotiations with prospective buyers. A good Realtor will have excellent negotiation skills, and a track record of satisfied sellers and buyers.
  • Paper Trail: If you are a prospective seller, always get a written sales or marketing plan from any listing agent you are considering. Be sure the Realtor shows you a comparative market analysis and objectively determines the fair market value of your home. Be careful of the Agent that prices too high. Even though it is tempting to price your home higher, Agents sometimes intentionally inflate the price to obtain the listing, and chances are you will not obtain a price above market value.
  • Fixtures: Most purchase contracts contain a paragraph about fixtures, or what comes with the house. Fixtures typically include wall-to-wall carpet, major appliances, built-ins, track lighting, or anything that is fixed to the property.
  • Discrimination Prohibited: Federal law prohibits an agent from discrimination against buyers or seller in any way, including refusal to show, sell, or rent to someone on the basis of race, color, religion, sex, national origin, handicap, sexual orientation, or marital status.


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