| Real estate commissions are typically paid for by | | | | market sliding even further to the buyers side, |
| home sellers not home buyers. When you go to | | | | real estate commissions are expected to increase |
| sell your house you pay your real estate agent a | | | | even more over the next couple of years. |
| commission. If you look at your closing statement | | | | There are many people who are in financial strain, |
| after you sell your house you will notice you are | | | | mostly caused by their home mortgage payment. |
| also paying a commission to the buyers real | | | | Either they purchase their home at the top of the |
| estate agent. In the 1990s the average home | | | | market and now owe more for their house than |
| seller would pay a real estate commission of | | | | what they purchased it for, or they have some |
| approximately 6.1 percent, half to the buyers | | | | personal situation which makes it hard for them |
| agent and half to the sellers agent. As the real | | | | to make their mortgage payment. |
| estate market shifted to a sellers dream the | | | | If your home is causing you financial strain and |
| average real estate commission decreased to 5.4 | | | | you can not afford to pay large real estate |
| percent in 2001. | | | | commission, you have options. There are a couple |
| Summer 2005 brought about the peak of the | | | | ways to sell your house and not pay a real estate |
| sellers market. Home sellers could post a For Sale | | | | agent. You can sell your house FSBO, which will |
| By Owner sign in their front yard and expect a | | | | still cost you a few thousand dollars up front, or |
| full price offer in just a few days. When people | | | | you can sell your house to a local home buyer. |
| can sell their house in just a few days by posting | | | | Local home buyers existing in every real estate |
| a sign in the front yard real estate agents are | | | | market. They will give you a free offer on your |
| viewed as an over paid service. In 2005 the | | | | home and explain your home selling options. Even |
| average real estate commission was just over 5 | | | | if you do not have enough equity to pay real |
| percent. | | | | estate agent commissions, your local home buyer |
| Now the real estate market has shifted back to a | | | | can help. They can possibly lease option your |
| buyers market. Real estate agents are back in | | | | home or take over your mortgage payments. If |
| the drivers seat and once again raising | | | | you are in a financial strain because of your home |
| commissions. In 2006 the estimated real estate | | | | and you would like to sell your house fast. |
| commission was 5.18 percent, up 0.16 percent | | | | Contact your local home buyer and see what |
| from the previous year. With the real estate | | | | they can do for you. |