Paying commission

Using an agent to sell your property is not a legal requirement and you may elect to sell the property yourself; however, there are a number of good reasons why the vast majority of people choose to engage a professional to ensure the best sale price:When you pay commission to an agent to sell your property, you are buying their expertise, activities and availability, and skills in negotiation, marketing and selling. Their advice and hard work contributes significantly to the selling price. Whether it's advice on how to present the property, the advertising they recommend and create, the introduction of a buyer they have been working with for some time, or representing your interests during negotiations - all require expertise and a lot of time and effort.

• Most buyers prefer to deal with an agent rather than directly with the seller - it's important to keep the buyer onside, committed and excited during the negotiations
• If buyers know you are not paying for an agent, they will nearly always expect the price to be reduced accordingly

The result may be that you end up doing all the work, feeling all the pressure, but not actually saving money or maximising the sale price in the end.

Commission rates vary depending upon what state you are in, what location, etc., There is no set national rate. You may need to speak with the agents in your area for an understanding of the likely costs associated with selling your property.