VisualCalc’s Savings on Commission Calculator helps you determine how much money you would save with a discounted versus standard realtor commission.
The standard, or typical, commission on a home sale is 6%. This is paid by the home seller. This commission is typical split between the agent for the seller and the agent for the buyer (i.e., 3% each). The commission that is considered standard for a specific home sale, however, can vary based on a number of factors, including home type, the strength of the local market, home sales trends, and the home’s anticipated selling price.
In addition, some agents offer a discounted commission in exchange for choosing them as the listing agent. Some home sellers use this as a negotiation point in their selection of a listing agent.
As a result of all of these factors, many home sales now feature a 5% agent commission, and, in rate cases, even lower rates.
VisualCalc’s Savings on Commission Calculator helps you determine how much you, as a home seller, would save with a discounted commission rate. First, you input the projected Selling Price of your home. The Non-Discounted Commission rate input is defaulted to 6%, but can be changed. Finally, you input the Discounted Commission rate you want to evaluate. The calculator then shows you the amount of commission you pay in both scenarios, and the difference, or savings, between the two.
