The commissions of a real estate agency are generally between 5% and 8% of the value of the property for sale or rent. These costs cover the advertising, the cost of the visits, the quotations of works. There is no law which fixes the tariffs of an agency. Each agency is free to exercise the price it wishes. It just needs to be clearly indicated. Trusting the Shreveport-Bossier LA realtor is essential here.
To reduce commissions, make comparisons. Do not hesitate to negotiate them. Real estate agency fees are highly negotiable today.
Independent real estate agency or a large network?
It’s an important choice to make, not the easiest! Both have their own advantages and disadvantages. Entrusting the sale of your real estate to an agency belonging to a large network is to be assured to enjoy better visibility. As the network is often national or regional, your ad will be seen by a larger number of potential customers. Teams in large networks are also well trained, especially in sales techniques. This guarantees increased efficiency for your sale.
Despite these major means, large networks also tend to treat a real estate sale in a more industrial way, which is not the case with a local real estate agency. She is more attentive and more flexible. She knows better the specificities of the local market. His team can be more effective in selling real estate. In any case, find out about the reputation of an agency before making your choice.
Sales mandate: how to choose the right one?
A last, and not least, a criterion for choosing a real estate agent is the sales mandate. This is the official document which states that you entrust the sale of real estate to an agency. There are two types of sales mandate.
The simple mandate allows you to entrust the sale of your home to several real estate agencies. Its validity is usually 3 months and is renewable. In the event of termination, 15 days notice must be given. In this mandate, you have the opportunity to sell the property yourself and not pay agency commission.
The exclusive mandate allows you to entrust the sale of your home to only one real estate agency. The duration of the contract is 3 months and is also renewable. If you have found a buyer on your own, you must always pay the commission to the agency. The advantage of this type of mandate is that certain to touch a commission, the agency will make every effort to sell your property more quickly.
Attention, some agents receive a commission according to the number of signed mandates. They will therefore seek to make you sign a mandate even if they are not sure of being able to honor the contract. We must flee this type of agents.
It is not because you have entrusted the sale of your property to a real estate agency that your project will always be a success. The results will depend primarily on the effectiveness of the agent you have chosen. You now know all the tips for choosing your real estate agency.