Century 21 Real Estate
Century 21 has established itself as a leading player in the real estate field through its effectual marketing and branding techniques over the years, resulting in becoming a household name. Their reputation precedes them, earning a 90% confidence and recognition level with the public. As a result, many top real estate agents choose to align themselves with Century 21.
Typically, Century 21 agents charge a 3% listing fee, which is standard within the industry. However, it is important to note that agent commissions are negotiable, thus flexible arrangements can be made.
- Headquartered in: Madison, NJ
- Founded: 1971
- Began Franchising: 1972
- Number of Franchises: 14,000+ worldwide
Century 21 is a prominent franchise that operates with a commitment to delivering top-quality services to buyers and sellers. The company strives to ensure that its clients receive efficient and personalized service that meets their unique needs.
The Century 21 Real Estate System provides members with comprehensive support in the areas of training, management, administration, and marketing. The company recognizes that its success is directly tied to the success of its agents. And therefore it invests heavily in their growth and development.
Century 21 has a reputation for innovation and forward-thinking with a focus on leveraging technology. The company’s commitment to excellence and dedication to its agents and clients have made it a top-performing real estate franchise.
What are Century 21 agents’ realtor fees?
Century 21 abides by the traditional commission model. Agents collect a percentage of the overall price of your home, typically 6%, for their services, like a comparative market analysis (CMA), listing and pricing your home, and negotiating with buyers.
As the seller, you are liable for both the buyer’s agent and your agent’s commission. The percentage derived from the sale will be divided between the buyer’s and seller’s agents equally, which means each agent collects 3%.
Furthermore, agents fork over a portion of their commission to their brokerage determined by their commission split. With Century 21’s 50/50 commission split, half of the 3% commission obtained by your agent is given to the broker, leaving the agent with 1.5% in commission.
How are realtor fees calculated?
Although the Century 21 website states that commission rates are flexible, the standard commission rate is 6% of the total sales price of the home, with 3% allotted to the seller’s agent and 3% to the buyer’s agent.
To illustrate, if you were to sell your home for $325,000 with a 6% commission rate, your total realtor fees would amount to $19,500. The amount is then evenly handed over to both agents, resulting in $9,750 for each. With Century 21 agents with a 50/50 commission split, the agent would keep the remaining amount after giving $4,875 to the broker.
Conclusively, while the earned commission by the agent may not be as high as anticipated, you would still be paying the initial sizeable total regardless.