When it comes to buying and selling real estate, most people rely on the expertise of licensed professionals. These professionals, called real estate agents, are paid on commission — meaning they get a portion of the money that is collected when the sale goes through. However, the question often arises: are they worth it?
A lot of hard work goes into being a real estate agent. The Bureau of Labor Statistics reports that in 2020, the median income for a full-time real estate agent was $51,220. While the average salary may seem low, many top-earning real estate agents make much more than that.
To become a licensed real estate agent, you will need to pay upfront fees and invest time. From training to taking the exam, to broker fees and marketing costs, it will take some time to start earning a decent living. It’s important to consider your options and understand what elements of the career are most important to you before making any commitments.
Are Real Estate Agents Worth it for Homebuyers and Sellers?
As a homeowner, selling your property can be a stressful and confusing process. From pricing to negotiations, there are a lot of factors that go into the sale. A real estate agent can help you navigate the process and sell your home at the right price. For homebuyers, a real estate agent can help find properties that meet their needs and budget. They can also provide information about home features and neighborhood amenities that are important to the buyers.
The bottom line is that a real estate agent can save you time and money in the long run. They have the skills, knowledge and experience to guide you through the sale process and avoid rookie mistakes. For most homeowners and homebuyers, working with a real estate agent is well worth the cost.
For sellers, real estate agents charge a percentage of the sale price. This fee is paid by the seller, but it is often offset by a higher sales price for their home or lower expenses during the transaction. For buyers, it is usually free to work with a buyer’s agent since the commission is paid by the seller at closing. Ultimately, real estate agents are worth it because they save sellers and buyers time, money and stress. Their services can be invaluable during a stressful and exciting time in life.