Do you pay a realtor to list your home and sell it,it so how/when?

Question

When you list your home with a realtor,do you pay them any fees up front,or when you sell the home or what?? Thank you.

Answer 1

When they sell your home they get I think 6% of the sale...I am almost sure there isn't any up front fees.  

It's a lot cheaper to sell your home on your own though.  Or maybe rent it out to make a monthly extra income ;-)

Answer 2

You pay the fees only when the home sells.  It comes out at the closing table.  I chose my last realtor based on a referral.  She not only listed it on the MLS but, she provided other marketing materials such as a CD on the home, a 9 page color brochure and she mailed info to each realtor that showed the home so they could give the additional marketing material to the prospective buyers.  This way they don't forget your home.  It worked out well and we paid her 3% and the other realtor 3%. You want to use them if you don't have time to show the home by yourself and you aren't available to show it all the time.

Answer 3

They are paid at closing, after the property sells unless you go with a flat fee company.   In that case you pay one realtor their fee upfront, and the other at closing.

Answer 4

Upon closing the sale of your home.  Usually a fixed percentage 3-7%, declining recently, here it's 5% except at discount realtors where it's 3%.

CAREFULLY READ the listing agreement when you sign it, and change anything you don't agree with BEFORE you sign.  List people you want excluded, for at least a month, to whom if you sell, you don't have to pay commission to realtors.  There are situations where they can demand payment from you even IF there's NO closing.  So READ the agreement and know what you are agreeing to, and line out what you aren't agreeing to.  Then initial line-outs and make realtor, too.

Generally no upfront fees to realtors, except flat fee realtors, some of these Help You Sell types.