How Much Does It Cost To Hire A Realtor

How Much Does It Cost To Hire A Realtor

If you’re looking to buy a home, you might be wondering to yourself, how much does it cost to hire a realtor? Do I really need a realtor? I mean, it seems like it’s going to be really expensive to hire a realtor, right?

I wanted to first of all dispel the myth that it’s going to cost money to hire a realtor. The seller actually pays for your realtor when you buy a house. The real estate agent has the house listed for sale that you buy charges a commission on the sale of the property that is charged to the seller, that’s divided between the buyer’s agent, your agent, and them, the seller’s agent, the agent that had the house listed. So you don’t directly pay for the real estate agent.

So that is a huge argument for getting a realtor on your side, getting a professional involved, so that you’re sure to find the best possible house, at the best possible price, and get the right advice through the process, because there’s a lot of pitfalls with what could happen during the home buying process that a professional is going to help guide you through and that’s going to save you a lot of money and potentially a lot of headaches on buying a home.

The other part of it is, it actually could cost you a lot of money if you hire the wrong realtor because a good realtor is going to advise you as to the steps in the process, they’re going to save you a lot of money, like I said, by overcoming possible pitfalls through the process that could cost you a lot of money or heartache down the road after you close on the house and after you’ve already bought the house.

The thing about it is, is that if you hire the wrong realtor, they’re not going to give you that same advice and that it might end up actually costing you a lot of money, in both the short and long term, by having the wrong person in your court. I mean, the reality is, is that 20% of the real estate agents do 80% of the transactions. And the reason why is that these are the excellent agents that are really, really good and know what they’re doing. These are professional, full-time real estate agents that are very, very good at what they do and can advise you the right way.

Here’s another thing to watch out for. Once you get one of these agents in your court, and you’ve gone deep with them, they found out what your goals and dreams are, what you’re looking to do with buying a house, what kind of house you’re looking for, if you find a house that you want to go look at, what happens if you can’t reach them and the realtor that you had been working with is busy at that moment you want to go look at a house. In that case you might find another real estate agent randomly that you haven’t ever talked to before. They can show you the house. They show you the house, you like it and you end up writing a contract on that house and going under contract with another realtor.

This is not necessarily bad, but you may have found a realtor that is less busy, one of the realtors that is that 80%, that does 20% of the business and is maybe not a professional realtor, professional full-time realtor, and that could end up costing you a lot of money. Because remember, if the excellent realtor that you originally found is busy, it’s because they are really good and they have a lot of clients, so they might just be tied up in the moment but it pays to give that agent a little bit of time to let them know that you might want to look at this house, because a lot of times these agents have other agents that work with them on their team, that they might’ve already debriefed this other agent on your situation and this agent knows everything about your goals and dreams, what you’re looking to do and that agent might be available to show you the house so that you can still work with your top, top agent that you’ve been working with, to help you go under contract on that house and get the right advice moving forward.

So long story short, it doesn’t technically cost you any money to hire a real estate agent because the seller pays for that, but it can cost you a lot of money if you don’t find the right real estate agent.

If you need a recommendation for an excellent real estate agent in your area, I know a lot of great ones, especially in the Colorado Front Range area. So if you’re watching this video and you’re not sure of who to use, or maybe you’re working with a real estate agent, you’re not really too happy with them, or they’re not doing a great job, or they’re not very responsive, just give me a call, text me, or email, and I’d be happy to hook you up with someone who is really, really good, professional, full-time real estate agent and can advise you the right way and take really good care of you through this process.

So, once again, my name is RJ Baxter, Fairway Independent Mortgage. You guys have a great rest of your day. Thanks for watching.