They charge a lot because it takes work and money to market, it is hard to get licensed and become a real estate agent, they have to pay for dues and insurance and real estate agents usually have to split their commissions with their broker.
The biggest reason a real estate agent gets paid so much is they are worth it!
What percentage do most realtors charge?
Why do real estate agents get a percentage?
Why do real estate agents get paid by “percentage” of sale instead of some other measure of value? Buyers get their services for “free,” because it si the successful seller whose commission paid out is “split” between the buyer agent and the listing agent.
Are Realtors worth the money?
Are Realtors Worth the Price? “Being a real estate agent or broker is a profession. It’s a job.” Yet one-third of Americans who sold a home did not feel the service they received from a realtor was worth the commission, according to a Toluna study commissioned by iGOfsbo.com.
Why do Realtors get 6 percent?
Since the 1950s, the National Association of Realtors has used a “suggested” commission rate for real estate agents. This rate landed at around 6% of a home’s selling price, which included commission for both the buyer’s and the seller’s agents.