Real estate agents get a commission for every deal they close. This is a percentage of the property’s sale price. The more the house sells for, the more money an agent makes. However, the online listings allow consumers to do much of the shopping on their own without help from an agent. This is the reason why the traditional commission-based payment structure is gradually shifting.
A few brokerages are now charging a lower commission for more expensive houses. On the other hand, some handle the entire transaction for a flat fee which is less than a regular commission.
Other companies offer a fee-for-service pricing structure. This allows sellers to pay only for certain parts of the sale process, rather than for the entire bundle. For example, a seller may opt for just the listing on the MLS.