Average Rate of Agent Commission in Jacksonville, FL
Jacksonville is the largest city in the State of Florida and it is a great place to live for many reasons. The weather is amazing, the beaches are beautiful and there are plenty of activities to keep you busy.
All of these things create demand for housing, which pushes home values up. As homeowners see their equity increase, some consider selling, but often wonder how much a real estate agent will charge.
A commission is a realtor fee. It is the amount the seller’s agent earns at the end of a real estate transaction. Keep in mind that the commission does not include the rest of the closing costs.
The Jacksonville real estate market is very competitive and agents typically charge a commission of 5 – 6% on the sale price of the home. To put that into perspective, a house that sells for $100,000 will cost an additional $6,000 in total commission.
With a median home price of $317,000 in May of 2022, this means you will pay $19,000!
Every realtor has the ability to set their own commission rates; however, they will be limited by what their brokerage allows. Some agents may be willing to negotiate a lower commission rate, so it’s always worth asking.
Commission in Jacksonville, FL Compared to the Rest of the Country
The average real estate commission percentage in Florida, including Jacksonville, is 5.4%, which is lower than the national average of 6%.
This difference may be due to a number of factors, including the relative affordability of housing in Jacksonville and the competition among real estate agents in the area. Whatever the reason, lower commissions can mean big savings for home buyers and sellers in Jacksonville.
When compared to other major cities in Florida, Jacksonville’s commission rate is on the lower end. For example, the average commission in Miami is 7%, while in Tampa it is 6%.
That said, there are some real estate markets where Jacksonville’s 5.5% commission would be considered high. In Las Vegas, for instance, the average commission is just 3%.
So, while Jacksonville’s real estate market may not be the cheapest in the country, it certainly isn’t the most expensive either. Even still, this is money out of your pocket when it comes time to sell.
Factors that Influence how much a Realtor Charges
There are a number of factors that can influence how much a realtor will charge for their services.
One of the most important factors is the amount of experience they have. More experienced realtors will often charge more than those who are just starting out in the business. A new agent will charge a low commission to lock in listings and establish a name for themselves.
Another factor that can influence percentages is the location of the property. Realtors who specialize in rural areas requiring more market time may charge more than those who focus on urban areas. Jacksonville real estate is rather typical, so most agents won’t charge a higher realtor commission due to the location.
Finally, the size and type of property can also affect how much a realtor will charge. Realtors who frequently deal with large, luxury homes may charge more than those who typically work with smaller, more affordable properties.
However, since realtors will get a significantly higher total commission on expensive property, many will provide a discounted rate to win the expensive listing.
By taking these factors into account, you can get a better sense of why one realtor may charge more than another.
Who Pays Closing Costs
When you’re buying or selling a home, there are a number of costs that are associated with the sale of a home. Who pays these costs is typically negotiable between the home buyer and home seller, but there are some general rules of thumb that can help guide the decision.
For example, in most cases, the buyer is responsible for paying for a home inspection and any necessary repairs that result from the inspection. The seller usually pays for things like real estate taxes and homeowners insurance. As for closing costs, these are typically paid by the buyer, although the seller may cover them in certain situations.
Ultimately, it’s important to discuss who will pay closing costs upfront so that there are no surprises during or after the sale.
Tips for Finding a Good Realtor in Jacksonville, FL who Fits Your Budget
If you are looking for a good realtor in Jacksonville, FL, there are a few things you should keep in mind.
First, it is important to find someone who fits your budget. There are a variety of realtors available, so be sure to compare each agent’s commission rate before making a decision.
Second, it is important to find a realtor who is knowledgeable about the area. Ask around for recommendations or look for online reviews.
Third, it is important to find a realtor who you feel comfortable with. Be sure to interview several different candidates before making a final decision. By following these tips, you can be sure to find the right realtor for you.
Reasons to Sell Your House Without a Real Estate Agent
There are a number of reasons why you might choose to sell your house without using a real estate agent. For one, it can save you a significant amount of money in the real estate commission.
Moreover, if you are knowledgeable about the real estate market and the process of selling a home, you may be able to achieve a higher sales price by negotiating directly with buyers.
Additionally, it can give you more control over the selling process, as well as the timeline for selling your home if you are selling under a time frame.
Of course, there are also some risks associated with selling your own home, such as the potential for exposing yourself to liability. Therefore, it is important to weigh all of the pros and cons before making a decision.
Important note: If you go the “FSBO” route you will save money on the listing agent side of the commission in Jacksonville, but in order to bring a buyer that is represented by an agent (most are) you’ll still need to pony up to pay them. This will often be ~3% of the sales price.
Pro tip: Working with a company that buys houses fast directly, such as our team Freedom Home Buyers means you’re not listing your home on the open market. No agents are involved and you save 100% of the sales commission. If you’re interested in learning how much we pay for homes in Jacksonville, reach out to get a free offer.
Who Should Sell Without a Real Estate Agent?
Real estate agents are necessary in some situations. Real estate agents have the time to prepare the house, stage the house, host open house events and negotiate for you. But this requires getting your house in tip-top condition, leaving for showings and of course, putting your plans on hold until you wait for the closing.
People who want to sell their home as-is without repairs and as quickly as possible don’t necessarily need the help of a real estate agent. Sometimes, the time, effort and money required to make the house ready for proper sale simply aren’t worth it for the owner.
People may prefer to sell the home as-is if they know that it requires a lot of work that they can’t afford. A homeowner may also want to sell a home quickly if they risk losing the home to foreclosure. Finally, other people may also prefer a quick and simple sale if they have bad memories associated with the house, such as after a divorce or a death in the family.
Sell Your House for Cash in Jacksonville, FL with Freedom Home Buyers
When you sell your home through Freedom Home Buyers, you work with a real estate professional that doesn’t charge a commission fee in Jacksonville.
Freedom Home Buyers will pay you a flat fee for your home in cash, ensuring a quick sale without the hassle of working with a listing broker who will charge a commission.
Not only will you avoid the real estate agent fee, but you’ll also save money on inspections, repairs and closing costs.
Contact Freedom Home Buyers to learn more today!