A real estate agent is likely to charge a buyer or seller 3% of the home sales price. Sellers can negotiate this commission charge with their real estate agent, as well as the commission allotted to the buyer’s agent in the listing contract. This means that on a home sale the total commission taken by the real estate agents will be around 6%. Not counting inspection and appraisal fees.
This is the most common way to talk about how much a real estate agent charges their clients, but it’s not the only way. Our experience and research tells us that an agent will spend an average of 37 hours working to help a client buy or sell their home. Now, given the median home values, the average commission in Denver is about $15,000 and in Seattle it’s $23,000. This means that Denver and Seattle real estate agents charge $407 and $626 per hour, respectively.
If this sounds excessive, you’re right. And TRELORA is proving it. We offer full-service real estate for a flat fee of just $3,000-$4,0000. By this metric, our real estate service charges just $81/hour in Denver and $108/hour in Seattle, no matter the price of your home.