Know How Discount Brokers Operate
Are you looking for the best discount real estate brokers in NJ ? On an rough estimate, the traditional brokerage fees are as high as 7% of the sales price. The average co-brokering fee, the fee paid to selling agents who cooperate, is often as low as 3.15%. Therefore, listing agents make a lot more money than selling agents. An agent spends about 4.5% on advertising fees, giving 2.5% to the selling agents and keeping 2% for her company. Here are some of the examples that can help you understand how these discounts operate: Flat-fee Listing Policies This brokerage accepts listings at a flat rate, paying a cooperating percentage fee on top of that amount to selling brokers. This cooperating fee is also paid by the seller. We can often see a brokerage ad offering to list your house at a fee of $2,000 with small disclaimer that this fee is exclusive of the fee paid to the selling broker. Small Percentage-Fee Listing Policies Some brokers tend to advertise to take a listin