Thinking about selling a home in a Burlington zip code? I bet you are hoping to make a good amount of money off of the transaction, but you need to keep in mind that you don't get to keep the total amount of the sale of a piece Burlington or Mississauga real estate once you sell it. You will have to pay a number of fees, including the fees charged by the real estate agent.

You can be talking a Burlington, Toronto, or Edmonton real estate agent, and you will find the same thing; they all charge a commission. An individual agent works to sell a home for an individual, and in exchange for the work they put in they charge a commission. That commission is an almost universal 6%. A lot of people balk at that number; 6% on the sale of a home priced at $250,000 is an amazing $15,000! Before you run to buy a For Sale sign to put in your window, though, it is worth it to see what that 6% covers and how it works.

First of all, very few real estate agents will receive that full amount. Most will sell a Burlington town house or a Toronto waterfront condo with the help of at least one other agent. One agent works for the buyer, helping her to find the home, while the other represents the seller. The agents connect these two parties and split the fees 50-50.

Then, there are broker fees. Every agent has to work through a real estate brokerage, which is the organization behind all the advertising dollars and strategies which go into the sale of your L Tower corner unit. Brokerages take a hefty chunk of an agent's commission; usually about a third.

The brokerages themselves don't keep all that money either. As we mentioned, the real estate business has a lot of advertising involved in it. There are fees to put homes on the MLS as well as to maintain it, associated fees with other types of advertising, insurance, and so on. There are also fees that come with home inspections, all of which the brokerage will usually cover. And then of course there are the details; paperwork costs, supplies, and so on. You should never be charged extra for these services as they are all a part of the commission you are paying.

If you still think that agents are receiving too much of the money from the sale of King west lofts, you do have other options. The menu service brokerage is becoming more popular today as people try to save money on the sale of their homes. However, studies have shown that traditional full service agents have a much higher success rate and sale prices than home owners who use menu programs and other alternatives.

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