Frequently Asked Questions
Why should I use a REALTOR®?
Central Texas REALTORS® have up-to-date market knowledge for pricing and financing a home and know the terms and condition of competing properties in your area. They are experienced in objectively evaluating offers and know when and how to negotiate within the transaction. In addition, REALTORS® can offer tips on preparing your house for sale, marketing your home, completing appropriate paperwork and coordinating home inspections. Learn more about why it pays to work with a REALTOR®.
How are REALTORS®' commission rates established?
The service fee or commission rate is associated with the level of service provided by a REALTOR®. REALTORS® offer different services and, therefore, charge different fees. A REALTOR®’S fee reflects the time, resources and effort he or she puts into marketing your home or finding your dream home. REALTORS® work to establish the best price for the seller or the best deal for the buyer. When evaluating a REALTOR®’S commission rate, ask yourself how it compares to the amount of money he or she will help you save or earn in the long-run or to the value of service he or she provides.
I’m looking to buy a home. Will I have to pay my REALTOR® a fee?
An exclusive buyer’s agent’s commission is normally not paid by the buyer, but actually comes from the seller’s commission in what is called a “co-fee.” Although there are situations where buyer’s agents charge an hourly fee or a flat fee for service, in most situations they are simply working for the same commission that is paid by the seller and split with the seller's listing agent. A buyer’s agent works with your best interest (and budget) in mind. It is important for a buyer to understand even though he or she is technically hiring a representative, the compensation nearly always comes from the transaction itself.
How does a REALTOR® price my home?
Many factors determine the fair price of a home, and REALTORS® understand the “science” appraisers use to value a property. For example, REALTORS® can gauge the condition of other properties in the area; understand how new developments could impact home values; and determine how specific features of your home will lower or raise its value on the market.
Will I have to make upgrades to my home and what will it cost me?
Small details can mean big dollars when it comes to your home’s appearance. REALTORS® are skilled in recommending repairs or cosmetic work that is proven to minimize time on the market and maximize prospect interest and sale price. Your REALTOR® can work within your budget to recommend the best options for presenting your home for peak buyer appeal.
What inspections and requirements will I have to go through to sell my home?
Selling a home involves many steps and a myriad of professionals – from inspectors and appraisers to repairmen and title companies. A REALTOR® can help coordinate this complex process and give you a list of trustworthy providers with whom they have worked.
If I want to custom-build a home, why should I use a REALTOR®?
Building a custom home can be a big undertaking, but a very rewarding one. REALTORS® have the ability to help you better understand the complicated paperwork you are signing and can help negotiate terms between the builder and the seller. REALTORS® in the Austin area also work to represent you and safeguard your best interests at every stage of the home building process. Lastly, because REALTORS® essentially bring business to home builders, they have more leverage and can better resolve issues with all the parties involved.