Ever wonder how New Orleans real estate agents get paid? You’re not alone and we are here to answer the question!
Who pays the real estate agent?
The seller does. So, when you go to lowball the seller – you need to remember that they are paying the commission on this house sale. The sellers always factor how much they pay in commission, closing costs, and every nickel into their bottom line.
Can the buyer pay their agent?
Sure can. Some agents require their clients to supplement their pay if the sellers are offering a less than desirable commission amount.
Why would an agent ask their buyer to help pay the commission?
There is a thing called “limited service listing agents.” In these situations, they offer very little compensation but the buyer’s agent has to do all of the work. Furthermore, the buyer’s agent has to interact with the seller directly and handle all of the paperwork. They also have to do all negotiations themselves with the seller.
These types of listings offer so little that your agent would only walk away with about $200-$500 after months of work.
Why does my agent deserve their pay?
I think this is a great question and am super happy to answer it! You’re paying for your agent’s knowledge and time. The only people who have the time to run a real estate deal properly are those doing it full-time.
Homeowners insurance – need a good recommendation? Yeah, your agent has it. They know who has done people wrong. They also know people with the best rates.
Is your plumbing jacked? Your real estate agent has already been through numerous plumbers and can tell you who is good and who isn’t.
What should you ask to be repaired after home inspections? Your New Orleans real estate agent knows what is easy to fix and what isn’t. They buy and sell homes every single day. Even when something seems daunting, they can let you know if it truly is.
Are you reactive and a little hot-headed? Your agent can keep a level head and go back into negotiations and get what you want. No one responds to yelling well.
I can give 100 scenarios as to why you should have a real estate agent representing you.
If I’m the seller – do I write a check?
No. It will be taken out of the proceeds of your house sale. If you sell for your house for less than you owe – then you will write a check.
Buyers almost never pay for representation – which is why there is no excuse to not have an agent!
Sellers: You need the expertise of a professional. Your New Orleans real estate agent should be working hard to get you top dollar! We also know if the market is stagnant, what other houses are selling for, and the little things to get you to your goals.
Ready to buy or sell a New Orleans house? Text us!