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Commissions usually total 5% or 6% of a home’s selling price, so for a $450K home, roughly the average price of a home in the US, a seller would be responsible for $27,000 in fees.
In June, the median sale price of a home was $442,451, according to Redfin. Under the previous practices sellers would be paying $26,547 in commissions. That customary rate is no longer the default.
Thousands of dollars in commission are at stake from most home sales: The average home sold for about $250,000 in 2022 in the Lansing/East Lansing region, which — based on a 5% commission ...
“I refer to ‘where the rubber meets the road’: the number of homes sold, average days on the market, average sale price of sold homes, list price to sale price ratio, price per square foot ...
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 [4] by co-executive chairmen Rich Barton [5] and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current ...
2. Selling ‘For Sale by Owner’. Selling a home is a complex and legally intensive process. While it might be tempting to save on commission fees by selling the home yourself, this can be a ...
Home prices by county (2021) <$100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000+ Cost of housing by State. This article contains a list of U.S. states and the District of Columbia by median home price, according to data from Zillow.
However, if you're buying another home, you'll also be paying those inflated prices. Worse, if you got a fixed-rate mortgage during or before the pandemic, you likely have a rate of 4.00% or less.
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