How much do real estate broker services cost?

NT broker commissions. What are they?

When choosing a real estate broker, perhaps one of the most relevant questions for you will be, how much will the broker's services cost me? What is included in the price of their services? Will I have to pay if the broker doesn't sell my property? Is it worth having a broker, maybe I'll save money by doing it myself?

What size are real estate broker commissions?

The broker charges a commission for helping you sell your property. Normally, the commission is paid only after the property has been successfully sold, i.e. after the notarial contract of sale and purchase has been signed with the buyer. This is why the commission is often referred to as a success fee. In this case, if the broker fails to sell the property, he does not receive any remuneration, so his motivation to sell is huge. The size of the commission varies greatly. It depends on the nature of the broker's work, his professionalism, the value of the property and the complexity of the sale. The commission is usually a few percent of the total sale price of the property (e.g. 2-5%) or a specific amount is agreed, which remains unchanged if the property is sold at a price different from the one previously agreed. If the value of the property is low (up to €40,000), the commission may be as low as a few percent. Therefore, a broker will usually only tell you the specific commission rate after he has a detailed knowledge of the property and has assessed all the aspects of the sale that are important to him. Sometimes, when signing a brokerage contract, the broker asks for an administrative fee, which can be in the region of €300-500.

What services should a real estate broker provide?

Every agreement between a broker and a seller is unique. However, a broker should not only advertise your property but also help prepare the sale documents, participate in viewings, negotiations, and the final transaction at the notary's office (unless otherwise agreed). The broker must also advise on how to best prepare the property for sale, help determine the sale price, and inform you about the required taxes for selling real estate.

Will I have to pay if the real estate agent doesn't sell my property?

Whether you will have to pay the broker if the property is not sold will depend on which brokerage agreement you sign. Most brokerage agreements specify only a commission fee (i.e., a success fee) for the sale of the property. Therefore, you will not have to pay any additional fees or penalties, except for the specified administrative fee. However, each broker chooses the form of the agreement at their discretion, so to avoid misunderstandings later, read it carefully before signing the agreement.

Is it worth working with a real estate broker?

There is no single answer to this question. It depends on your situation. If you have experience and know how to sell real estate, you do not need a broker. However, if you are selling property for the first time, if you do not know how to advertise the property for sale, what the sales process is, or what laws govern the sale of real estate, it will be safer to entrust this job to a professional. The rule that everyone should do their own job also applies in this case. A good broker, like a good lawyer, will help you achieve the desired result faster.

What is important to know when choosing a real estate agent?

If you make mistakes when selling real estate, this failure can cost you dearly. Therefore, choose a broker who appears professional to you and whom you can trust as a specialist. As in any profession, you can encounter both brokers who know little about their work and very professional ones, so before making a decision, it is worth talking to several of them first. Here you will find tips on how to choose the right broker. You can be severely disappointed if you choose to work with a broker who offers the lowest service fees. A low-cost broker typically has a large number of clients, making it difficult for them to even remember information about each property. Imagine if a broker has more than 20 properties for sale; they won't have time to properly organize viewings, communicate with buyers, and represent you. Furthermore, rushing increases the likelihood of mistakes, and there's no commission left to share with other brokers who might bring a buyer. Of course, high commissions don't guarantee quality service either, so prioritize professionalism first.

Why should you work with me?

• Experience. I have been working as a real estate agent since 2013, so I have a good understanding of the market and the subtleties of sales. I know how to sell faster and get a better price.
• I work in a team. I don't work alone; my colleagues will also sell your property with me. They cover for me during my vacations or when I'm sick. I also collaborate with other real estate specialists, such as appraisers, lawyers, surveyors, and so on.
• This is my daily activity. I do this job every day, so I know how to sell faster, smoother, and how to get a better price.
• You don't need to pay anything until the property is sold.  By entrusting the sale to me, you are taking almost no risk. I typically do not charge an upfront fee until there is a buyer. I cover advertising and viewing expenses myself. You will only pay me once the property is sold and the money for it is received.
• You're avoiding broker calls. You will no longer need to answer calls from other brokers offering their services. You will receive many such calls if you start selling your property on your own.
• Flexible contract terms. The terms I offer are usually better than those offered by the big agency brokers. And the brokerage contract you enter into with me can be easily terminated or extended.
• I can help sort out the documents. I can help you organize all your documents, even if you live abroad. I can represent you by power of attorney.

Also, please note that My services are not subject to VAT. Therefore, the commission we discussed will be the final amount you will have to pay. You will settle with me only after the sale takes place, meaning after the money from the buyer is in your account.