Advertiser Disclosure

How Much Do Realtors Charge to Sell a House?

Written by Allison Martin

Allison Martin is a personal finance enthusiast and a passionate entrepreneur. With over a decade of experience, Allison has made a name for herself as a syndicated financial writer. Her articles are published in leading publications, like Banks.com, Bankrate, The Wall Street Journal, MSN Money, and Investopedia. When she’s not busy creating content, Allison travels nationwide, sharing her knowledge and expertise in financial literacy and entrepreneurship through interactive workshops and programs. She also works as a Certified Financial Education Instructor (CFEI) dedicated to helping people from all walks of life achieve financial freedom and success.

Updated September 10, 2023​

2 min. read​

If you’re planning to sell your home soon, you’re probably looking for a Realtor or real estate agent to lend a helping hand. Of course, you’ll have to pay a commission for their services. Still, the costs of selling a house with a Realtor could easily outweigh the benefits if you wait enough for the right offer. 

In this guide, you’ll learn more about the process of selling your home with a Realtor and the commission you can expect to pay when the deal closes. But if you’re crunched for time and need to sell your house fast, there’s another option to consider. 

Popular Mortgage Lenders
Angel Oak Home Loans Logo
Learn how Angel Oak mortgage lender can offer you home loan solutions tailored to meet your specific financing needs.

Submit an online application form to inquiry about Angel Oak Mortgage Solutions financing options.

American Advisors Group is a leading provider of reverse mortgage solutions nationwide to retirees and older Americans.

Older homeowners can get peace of mind and added financial security with a reverse mortgage from AAG.

In this review, learn more about Zero Mortgage's flexible home loan solutions and how to buy a home or refinance your mortgage with them.

Buy a home or refinance your existing mortgage with Zero Mortgage.

Process of Selling Your House With a Realtor

Hire a Real Estate Agent or Realtor

The first step you should take is to find a reputable real estate agent or Realtor who’s experienced, knowledgeable and well-versed in your local market. When searching for options, it’s important to understand the difference between the two. A real estate agent is an individual who is licensed in their state to assist with real estate transactions. On the other hand, a realtor is a real estate agent or broker who’s a part of the National Association of Realtors. 

Perform a Home Inspection 

If the buyer is financing the home, the lender will likely require a home inspection and appraisal. It’s done to ensure the home’s market value is at or above the sales price. The buyer also wants assurance that there aren’t any significant issues with the house that should be addressed before the sale is finalized. 

Make Repairs, Renovations, and Improvements 

Unless you’re planning to offer concessions to the seller, which could eat into your profit, you’ll need to make the necessary repairs, renovations and improvements. Otherwise, the deal could fall through if there’s an appraisal contingency in the contract. 

Pay Fees and Commissions

You’ll pay closing costs, typically around 3 percent of the sales price, and real estate commissions at the closing table. 

Popular Mortgage Lenders
Angel Oak Home Loans Logo
Learn how Angel Oak mortgage lender can offer you home loan solutions tailored to meet your specific financing needs.

Submit an online application form to inquiry about Angel Oak Mortgage Solutions financing options.

American Advisors Group is a leading provider of reverse mortgage solutions nationwide to retirees and older Americans.

Older homeowners can get peace of mind and added financial security with a reverse mortgage from AAG.

In this review, learn more about Zero Mortgage's flexible home loan solutions and how to buy a home or refinance your mortgage with them.

Buy a home or refinance your existing mortgage with Zero Mortgage.

How Much Do Realtors Charge to Sell a House?

How Much Do Realtors Charge to Sell a House on Average?

On average, you’ll pay a commission between 5 percent and 6 percent of the purchase price to sell your home. It’s typically split between the seller’s agent and the buyer’s agent. So, if the asking price for your home is $450,000 and the buyer offers $475,000, you’ll be on the hook for $28,500 ($475,000 * .06) in real estate commissions if the fee is 6 percent. Both your agent and the buyer’s agent would receive $14,250. 

But if you sell your home for cash to an iBuyer, like Offerpad, the average service fee is five percent. So using the same example, you’d pay $23,750 instead of $28,500 in commissions, which equates to a cost savings of $4,750. Plus, you won’t have to offer seller concessions to seal the deal. 

What Do Real Estate Agents and Realtors Typically Get Paid For?

Real estate agents and Realtors do a lot of work behind the scenes to ensure your home garners the attention it deserves and attracts the right buyers. They’re also instrumental in ensuring the deal goes off without a hitch or minimal delays. Here’s a list of their duties: 

  • Preparing Your House: includes advising home sellers on ways in which they can prepare their home to make it stand out from others on the market
  • Putting It Up For Sale: involves listing the home so other real estate agents, Realtors and independent buyers can know it’s available for purchase
  • Marketing: entails positioning the property to attract winning offers 
  • Staging Your House for Potential Buyers: involves hiring a home staging company to make the home even more appealing if the seller has already moved out
  • Negotiating and Closing the Sale: includes accepting offers from prospective buyers, negotiating concessions and going the extra mile to make sure the deal closes within a reasonable timeframe

How to Sell a House Without a Realtor

There are two popular options to sell your house without a Realtor. You can take the For Sale By Owner (FSBO) route, which means you’ll handle the entire process from start to finish. This approach isn’t recommended unless you have extensive experience in the real estate industry. Or you can sell your home to an iBuyer for cash to make the process seamless.

Advertisement Disclosure

Product name, logo, brands, and other trademarks featured or referred to within Banks.com are the property of their respective trademark holders. This site may be compensated through third party advertisers. The offers that may appear on Banks.com’s website are from companies from which Banks.com may receive compensation. This compensation may influence the selection, appearance, and order of appearance of the offers listed on the website. However, this compensation also facilitates the provision by Banks.com of certain services to you at no charge. The website does not include all financial services companies or all of their available product and service offerings.
×