Have you ever wondered how much is paid in Real Estate commissions every year?
Stop wondering! TRELORA launched its inaugural Real Estate Commission Report earlier today and the findings are astounding. The report takes a look at the top 10 real estate markets across the U.S. and the massive amounts being paid in real estate agent commission.
“For most people, their home is their most valuable asset. TRELORA believes that everyone should have the ability to be a homeowner, something that’s made exponentially harder by outlandish real estate commissions,” says Joshua Hunt, the CEO of TRELORA. “Agents do the same amount of work whether a home is worth $150,000 or $15 million, but they are paid based on the value of the home, not their efforts. Worse still, as the price of real estate rises in hot markets like Denver or Seattle, they get another pay bump without commensurate hustle or expertise.”
The amount of commission being paid to real estate agents is astounding. From Seattle to Charlotte and Denver to Portland, millions of dollars are being paid every year in real estate commission.
Wow! That’s a lot of money being paid to real estate agents for the work they do! If you add it up, it’s more than the GDP of some smaller countries. All of this makes us wonder if people are paying too much in agent commissions. We think so.
If you’re considering buying or selling, and don’t want to pay massive real estate agent commissions, we can help! Just fill out the form below and let us know what we can do to help you keep more of your home’s equity.