"The agent told us that the commission was 5 percent to 7 percent, and that we should pick it," recalls Nancy. "She seemed to be very ethical and honest, and she was very up front that if we picked a 5 percent commission, it wouldn't make any difference in how she worked to sell our home."

Yet the couple didn't automatically opt for the lowest amount on the scale. Instead, they asked smart questions so they could better understand the commission structure and its potential impact on their deal. "We talked about how the commission affects your ability to sell the house," says Rick.

However, now that Razzano and his wife, Nancy, are selling their five-bedroom, three-bath home, they're much savvier about real estate commissions. They asked their agent pointed questions about what she'd charge and carefully considered the amount they'd be willing to pay.

If you're about to list your home, you should know the basics of your real estate agent's commission. Here are key things to understand:

1. Commissions are negotiable. The Razzanos agreed to a 5 percent commission as the amount that they would pay their listing agent. Real estate commissions are negotiable, and they typically range from 3 percent to 7 percent of the sales price of the home.

2. The listing agent doesn't get to pocket the whole commission. Usually, the amount you pay gets split four ways. It's shared among your listing agent and her broker, the cooperating agent (that's the agent who brings the buyer to the table, who's also called a selling agent or a buyer's agent), and the co-op agent's broker. Let's use a 6 percent commission on a $250,000 home as an example. In that case, you'd pay your listing agent $15,000 at the closing. Assuming the parties have all agreed to split the commission evenly -- which happens, but not in every sale -- each would take home $3,750.

3. The commission structure affects the salability of your property. When you're getting ready to list your home, you should interview at least three real estate agents and ask each the commission that that they'll charge. But don't take that amount at face value. Ask questions to find out why agents believe that they're worth a particular commission and the services they offer that agents charging lower commissions don't provide.

Also ask how much of the commission will be shared with the co-operating agent. For example, you may agree to pay a 6 percent commission to your listing agent. However, your agent may intend to offer co-op agents only one-third of the amount you pay. That could harm your ability to sell your home quickly, because cooperating agents will be less motivated to show a home on which they'll get paid less than if they sold another home with a higher co-op fee.

The same works in reverse. Perhaps your agent is planning to grab the attention of co-op agents by offering them more than half of the 6 percent she'll receive. Whatever your agent's plan, you should be fully informed because it could affect your ability to sell your home.

1. How long have you been a real-estate agent? As with any profession, experience matters. The more seasoned the agent, the better representation you're likely to get.

2. Do you sell homes part or full time? The real estate industry has its share of part-timers hoping to stumble onto a few home sales a year. If you're considering hiring a part-time real-estate agent, ask yourself: Am I confident this agent has tracked local activity closely enough to understand today's unpredictable market? Will he or she be able to give my home sale the time and attention it requires?

3. What training do you have? Has the agent earned industry designations or completed specialized training in areas like negotiation or working with first-time buyers? If not, think hard about whether the agent is dedicated enough to the profession to acquire and develop the skills necessary to succeed.

4. How many homes have you sold in the past month, quarter and year? Sales statistics are a quick way to gauge real-estate agents' competence. "I asked three agents for sales statistics from the last six months, because I didn't think the last month or quarter were fair to evaluate in this economy and my home's market," says Gordon. "The agent I chose sent me a spreadsheet showing his statistics and his company's, compared to others within the last two years."

5. What's the average "days on market" for your listings? The best real-estate agents know their clients and market so well that they sell homes faster than their competitors. Ask agents for data that compares the average time it takes them to sell homes with the average time it takes all other agents in the local market.

6. What will you do to market my home? There's a debate among real-estate agents over the value of traditional marketing tools like open houses and newspaper advertising versus website advertising and virtual tours. "I was looking for a well-rounded plan with print and website ads and Internet virtual tours, along with information on how agents would follow up based on what their web statistics told them," says Gordon. If you're not sure which marketing tools are best, ask agents which tools they think will sell your home, and why.

7. How will you keep me informed? A common complaint among consumers is that after they've hired a real-estate agent, there's radio silence. "That was my biggest problem," says Gordon. "I had to call the agent to call to find out information. This time, I specifically asked agents, 'How am I going to know what's going on?' The agent I chose told me he'd send me market statistics every week. I also told him I wanted to chat every six weeks to see what was selling in my home's market."

Gordon knows that she asked a lot of her real-estate agent, but she offers no apologies. "I probably drove this real-estate agent nuts," she says. "But I've been very active this second time around."

Selling a home? Here are some AOL Real Estate guides to help you, whether you're working with an agent or doing it on your own:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

Want more tips about working with a real estate agent? Here are some AOL Real Estate guides to help you, whether you're selling your home or shopping for a new one:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.