If you’re considering Buying or Selling real estate in Texas, you’re probably aware that there are several costs involved.
Buyers costs usually include the earnest money, property taxes, home insurance, monthly mortgage payments, HOA dues, inspections, survey, and Closing Costs which are typically 3 – 6% of the loan amount (less when paying cash).
Texas Sellers customarily pay Title Company Costs for the title search, title insurance, and recording fees. In the US, Sellers pay real estate commissions, historically around 6% split between the Seller’s Agent/Brokerage and the Buyer’s Agent/Brokerage. The commission is usually taken out of the Seller’s proceeds at closing, so there are no up front costs required. Sellers often make home repairs and improvements to improve the property’s appeal.
Realtors® professionally handle all aspects of the sale: appropriate pricing, client education, marketing, photography, MLS/Realtor listings, legal requirements, showings, negotiations, contracts, inspections/due diligence, and facilitate a successful closing. The commission amount depends on the individual Real Estate Agent and their sponsoring Brokerage. Some Realtors® may earn more than others as a reflection of their experience level, their market, and because they specialize in serving a very specific clientele.
Most Sellers and Buyers choose professional Real Estate Agents, licensed by the Texas Real Estate Commission, to represent them. Each agent, bound by a Code of Ethics and maintaining State Educational Requirements, tasked with looking out for their respective Client’s best interests while working together toward the common goal of finalizing the successful sale of the property.