How Much Does it Cost Me to Sell My House in Florida? And other answers for foreign sellers
If you’re doing some research to figure out how to sell your house, condo, or villa — or any other residential property in Florida for that matter — you’ve come to the right place! I am a full-time, full-service real estate agent who has helped many homeowners from the United Kingdom and Canada, as well as other states within the US, sell their homes from afar.
I realized early on that many of my clients weren’t quite sure how we realtors get paid and what services we provide and were hesitant to ask. No worries, I’m here to explain.
First, there is no “set rate” for realtors, however the most common commission among full-service realtors 6% of the sales price of the home. So, on a $500,000 home, the real estate commission (often called a professional fee) is $30,000. That fee is divided, usually equally, buy the listing agent and the selling agent (also called the buyers agent, this is the realtor who brings the buyer).
Those two realtors each split that fee with their brokerage (the firm they are affiliated with, for example, Keller Williams Realty). There are other fees involved and those vary depending on the sales price of the home. Usually around 1-2% of the sales price of the home.
Full-Service vs. Limited Service/Discount Agents in Florida
You might be wondering if there is wiggle room on this fee and if there are discount agents who will do it for less. The answer is, you can find an agent who will do it for less and also net you less for your home. Let me explain. Or better yet, let me give you a recent, real life example from a client of mine (I’ll change her name for this purpose).
Angela interviewed me, a full-time, full-service real estate agent here in the Sarasota area charging 6% commission. She also interviewed a discount agent, Bob, who promised to sell her home for 4% commission. Angela looked only at the commission rate on her home that would sell for about $500,000. If she hired me she would be paying $30,000. If she hired Bob, she would be “saving” 2% and pay just $20,000 in professional fees. Angela listed her house with Bob for 90 days. He rarely returned her phone calls, did not take professional photos of the house which made the house look worth far less than $500,000. He didn’t give her any feedback on the showings, did not stage the house at all, and he only received one offer and it was $460,000 which Angela rejected.
When the listing expired on day 91 she called me and asked me to list the house and agreed to a 6% commission. I bet you see where this is going! I immediately called my photographer, stager, cleaning service, etc. and we had the house professionally listed within 4 days and it looked stunning. We received 3 offers within 48 hours and ended up selling the house at $515,000. She walked away with significantly more than she would have if she had sold with Bob even though he technically charges less.
Let’s Run the Numbers
If Angela had accepted the offer from Discount Agent Bob, she would have netted $440,000. Instead she sold with me, Professional Agent Christine. Angela netted $475,000 and enjoyed a hassle-free experience with peace of mind that comes with hiring a professional. Wondering what else professional realtors do? See the list of 184 Ways Realtors are Worth Every Penny of Their Commission. Aside from discount agents, there are also a number of large companies out there that aim to buy your house cheap and quickly resell it at a profit. It sounds great at first because they promise to buy the house from you with no hassle and no real estate commission. In truth, you end up paying between 7.5% – 11% in other fees and you have to agree to all of their requests or they cancel their purchase. The devil is in the details as they say!
What’s the Next Step? Talk to a Professional Real Estate Agent
I understand doing your due diligence before calling a real estate agent, or any professional for that matter. I’m the same way! Over time though I have accepted that I can cut a lot of time out of the process by simply calling them and “picking their brain” as my grandmother would say! Go ahead, give me, Christine Pope, a call 941-685-5565 or shoot me a text or send me an email at [email protected] and let’s talk. I’m always happy to hear from you! You’re also welcome to read testimonials from recent past clients.
Not Quite Ready to Talk?
That’s okay! You can start with finding out what your home is worth here. Keep in mind it’s just an estimate, and I can likely assign premiums to the home once I’ve seen it. I look forward to hearing from you!