Is a Real estate agent’s commission negotiable? Could they help with my closing costs?
YES. Real Estate agent’s typical commissions range from 3% to 6% and in most cases they can contribute up to 3% of their commission towards closing cost. Many buyers often find it difficult to pay for the required closing costs (even in cases where 100% financing is available) on a purchase. Therefore, it’s important to first weigh your options with a HomeStart loan officer and get a sense of how much out-of-pocket costs you will have to pay at closing. Knowing this beforehand will allow time to negotiate and find a Real Estate agent willing to chip-in with some financial assistance. Most agents would rather close your deal and get paid than walk away from an otherwise good deal.
