When you understand how real estate commission works you’ll see why Cardinal Realty is able to offer a low seller’s commission. I’m a licensed real estate broker in Coralville, so this post talks about what is typical in the Iowa City area real estate market.
Typically there is a listing agent and their broker and a selling agent, (buyer’s agent) and their broker. That’s the standard scenario that results in a 4 way split of the real estate commission paid at closing.
Why Cardinal Realty is Able to Charge a Low Commission Rate
Iowa law requires real estate commission is paid to brokerages, not agents, so typically what happens when you negotiate the real estate commission with your listing agent, is that 50% goes to the selling brokerage and 50% to the listing brokerage at closing. (Every brokerage sets its own rules for handling commission, the 50/50 example is not set in stone). What’s important for you to know is that as a smaller company with less overheads we can afford to be flexible with the listing side of the commission. It will depend on a number of different scenarios just how flexible we can be with the commission and that would need to be negotiated at the time of listing your home.
Factors to Consider Before Listing your Home in the Iowa City Area
It’s no secret that I think the listing agent is the most important player when you list your home for sale. The size of the real estate company on the other hand is not important. Agents are responsible for marketing their own listings even if they do hang their license at a bigger real estate company. A good agent who understands the Iowa City area real estate market and has a solid marketing plan will get your home sold, regardless of the size of the company they work for. Good real estate advice and the excellent marketing plan are two things we have covered at Cardinal Realty. We’ve streamlined the process to cut out unnecessary overheads and pass on the savings to you. What you get is first class service and a top of the line marketing plan AND you get all of this for a low seller’s commission. Got a house or condo to sell in Iowa City, Coralville or North Liberty? Contact me for a Free Market Analysis, or better yet call me at 319-400-0268. Let’s talk about getting your home in the Iowa City area SOLD!