🔑 Key Takeaway:
Your down payment can be less than 20% of the purchase price — {steps_to_buy.global_state.20_down_cost} for the typical home in {steps_to_buy.global_state.state} — but you'll have to purchase mortgage insurance and pay more interest over the life of your loan.
Who should use a 2% commission realtor?
Working with a 2% commission realtor is a good option for most home sellers. Brokerages that offer 2% listing fees typically provide the same level of service as realtors who charge standard 2.5-3% commission rates. You'll have a similar experience to selling with a traditional agent, but walk away from your sale with more money in your pocket.
However, depending on where you're selling, a 2% listing fee might not actually be that much of a discount. Average commission rates vary quite a bit from city to city. In some areas, many traditional agents offer 2% rates to most sellers anyway.
If commission savings are your top priority, nationwide companies like Clever and Redfin offer genuine full-service for less than 2%.
» MORE: The best low commission real estate brokers
How to choose a 2% commission realtor
To choose the best 2% commission realtor, compare local brokerages to see which companies in your area offer the best overall value. Interview agents from 2–3 different brokerages to find the best fit for your priorities and budget.
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Key Takeaways
- Selling FSBO gives you direct control over how your home is sold, including the pricing strategy, showing schedule, and negotiation process.
- Selling FSBO means you won't pay a listing commission, which could save you 2.80% based on the Pennsylvania average.
- FSBO sellers who find a buyer who's also not using an agent save an additional 2.80%, the average buyer's agent commission rate in Pennsylvania.
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Selling to Opendoor vs. listing with a realtor
Selling to Opendoor is more predictable and sometimes faster than selling with a realtor. That’s because Opendoor can make an offer quickly and close when you want while realtors can’t guarantee that the right buyer will come along quickly.
However, a realtor will be able to net you more money by getting your house in front of multiple buyers ensuring that you get the best possible price.
Quick Tip
Opendoor charges a 5% service fee that’s slightly lower than the 6% commission that real estate agents are typically paid. Closing costs and repair fees are still a factor in either case.
Like all agent matching services, Ideal Agent is free to use and there’s no obligation to work with any agent the company matches you with.
But unlike most agent matching services, Ideal Agent only matches you with one agent, limiting your ability to compare different options.
Hire the agent, not the brand!
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Mike DelPrete. "Do iBuyers Like Opendoor and Zillow Make Fair Market Offers?." Updated November 12, 2019.