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Did you know that the only way a commission would actually be 6–7% is if you own your property "free and clear?" Commissions are taken from your equity position (i.e. what you owe on a mortgage), therefore the commission percentage is unbelieveably higher!

See for yourself: in the example below, you can see how much of a seller's equity a traditional "listing agent" takes away at closing! Just enter a sale price, mortgage remaining, and a commission percentage and hit "Calculate".