Buying and selling a house usually involves several costs, and the state of Georgia is no exception. Some expenses involved in buying a home include a down payment, a mortgage, and insurance. If you sell a house in Georgia, you might pay for a presale inspection, escrow fees, and HOA dues, among others. While all these costs are vital, property buyers and sellers must be wary of one price: real estate commissions.
At 3 Options Realty, we have an experienced team of property managers ready to help you navigate the industry for a successful purchase or sale. We work with you throughout the process, eliminating the risk of infringements that result in hefty fines or, worse, legal action.
According to recent National Association of Realtors research, nearly 90% of home sellers use a property management company and real estate agent to help them sell their property. Although realtors and property managers play different roles, they offer critical services to aid in the sale or purchase of a home. Many realtors charge clients by flat commission depending on the house’s sale price and brokerage.
However, they might charge more than a reflection of the high-end market, experience level, specialized clientele, and brokerage model. The average national real estate commission rate is 5.4%, meaning if a house sells for $400,000, the seller will pay $21,600.
The commission rate in Georgia is slightly higher than the national average at 5.8%. It is vital to note that this includes the buyer and listing agent fees. This may seem okay when the average home price is around $200K, but as the median home value nears $400K in Georgia, the number of low-interest real estate agents increases.
Tech-enabled discount agents allow prospective sellers to list their homes for as low as 1% without compromising service or results. As most homebuyers opt for online solutions, sellers question the importance of hiring an expensive listing agent.
Since many realtors work for a brokerage, they must pay the broker for insurance, support, contract guidance, and tech. Some brokers will charge a flat monthly fee or a flat fee per sale, but the majority charge a 5-30% commission on the total earnings. As mentioned, the real estate commission in Georgia is higher than the national average. Still, the real estate market in Georgia is thriving and isn’t lacking in top neighborhoods and cities.
Realtors in Georgia and most parts of the country offer essential services for a 6% commission. These services include listing homes on local MLS (multiple listing services), pre-listing pricing evaluation, professional photography, contract negotiation, a lockbox, and a yard sign. You can forego most of these costs by choosing an agent charging 1% to sell or offering incentives when you purchase a home.
If you are a prospective seller or buyer, you stand to benefit by hiring a reputable property management company to ensure everything is in tip-top condition. Contact us at 3 Options Realty and learn more about real estate and the costs involved. We guarantee exceptional property management services at pocket-friendly rates.
If you have been rummaging through web results for “property management companies near me,” then you are at the right place. 3 Options Realty’s property managers in Atlanta are experienced and trained to deliver top-tier service. Call 3 Options Realty to speak with a friendly representative today to learn more about our property management & real estate services. We are ready to take your call.
We use professional market research to determine fair-market rent, and we use broad market advertising to reach a large audience. Our agents will also help you prepare your property and skillfully present your property. Prospective tenants will undergo comprehensive interviews and background screening before we negotiate with them the rental agreement using our proprietary, attorney-reviewed forms.