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  • What does Discount or Reduced Commission really mean?
    It refers to a brokerage firm, team, or individual real estate agent that charges less than the typical commission rate for a real estate transaction. In some cases the reduced commission fee may still include full-service, but in many cases, the level of service provided will be significantly reduced. LIST for LESS provides FULL-SERVICE and REDUCED COMMISSIONS..
  • Are real estate commission fees negotiable?
    Absolutely. Each agreement is unique and real estate clients should be aware that they can negotiate the commission.
  • What is the typical real estate commission fee to sell a home.
    There is no established commission amount for a real estate transaction. The amount is usually based on the particular real estate market and the business model of the particular real estate firm. It's not uncommon for sellers in Hampton Roads to pay between 5% and 6% commission. Half of that is usually paid to the real estate firm who will represent the buyer.
  • Does LIST for LESS provide full-service along with their reduced commission rates?
    Yes. That's what sets LIST for LESS apart from other discount firms. LIST for LESS clients receive completely full-service real estate.
  • Why do I even need an agent?  Can't I sell my own home?
    Yes, it is possible to sell your own home, but for most folks, the risks, headaches, paperwork, and uncertainty are more than they bargained for. In fact, many sellers who start out trying to sell without an agent, eventually end up listing with an agent. It's a complicated legal process that involves dozens of steps, documents, contracts, disclosures, addendum, inspections, time-lines, and more. For those with a background in real estate, yes, go ahead, but for the typical homowner, it is not recommended.
  • How is the real estate commission paid?
    The agreed upon real estate commission amount will simply be deducted from the seller's sale proceeds at the end of the selling process. However, if the real estate commission amount exceeds the proceeds amount, the seller would have to make up the difference out-of-pocket.
  • Do buyers pay any commission to buy a home?
    Not usually. In almost all cases, real estate sales commissions are paid by the seller. However, under some circumstances and certain agreements, a buyer may be required to pay a commission. These are somewhat rare situations and are best explained during a conversation with an agent.
  • What if my home doesn't sell?  Do I still pay the commission?
    No. The commission is only paid when the transaction is complete.
  • How does cash-back to a buyer work?
    LIST for LESS refunds a percentage of its final sales commission to our buyer-clients. The precise mechanism for each transaction is dependent upon your lender's regulations, so each case may be different; but our cash-back clients can receive THOUSANDS of dollars.
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