What is the Percentages that Realtors make in Nassau County NY?

Question

What is usually the minmum, to the max rate that a realtor, such as Prudential, or Century 21 makes off of the selling of your home? Is 3-6% higher? Just curious before I start selling. Also, how much do they usually sell a house for in those locations of Nassau County NY? Please only answer if your a professional, or know about NY Real Estate. Serious replies only.

Answer 1

I am from Nassau County. The realtor from Nassau is correct somewhere between 3-6%. Nassau County has a wide range a values between 350k to millions. It really depends on where you are. I deal with brokers all the time and I must state that Prudential is one of the better brokerages in terms of service and overall professionalism with people.

Answer 2

Nassau County Realtors

Answer 3

The maximum they can charge is a 6% if your home is worth 500,000 then the total commission is 30k this commission though gets split between the selling agent, (your realtor) and the buyer's agent, if there is one, so each of them get 3%, if your agent is able to do both list and sell the property then your agent takes the full commission, you can always negotiate, and ask them to charge 2.5% instead of 3 and 3 so a the minimum they'd want is 5%.

If the housing market in your area is slow, meaning there is a large inventory of homes, it means Realtors might be willing to accept a smaller percentage, when I sold my previous home, I had to really negotiate with my Realtor on the commission because I'm in the business, (not a realtor) and I was able to negotiate 4% (most realtors won't go for it) however, due to the fact that I'm in Real Estate she accepted, Her and the buyer's agent only took a 2% commission at closing.

You might want to ask several Realtors and see which is willing to go the lowest, homes in Nassau are quite expensive, your Realtor will be able to provide you with a marketing analysis in your area.

It is hard to say how much a home will be worth in the area, as there are variations, depending on which side you are on and the comparables in your area, what has sold, for how much and when, just make one call and tell the Realtor; you are considering selling your home and would like to find out what are homes going for in your area, don't let him or her talk you into setting up an appointment, (they will all say, I can help you, blah, blah, blah, they'll try in any way to get the highest commission out of you and they'll tell you, if you want the best, I got the best, and you shouldn't bring up the fact of the how much question, that is the very first thing to know of course!!! Because it comes out of your sale, your equity.)

Tell them you are trying to find out what your home is worth first and then have to do some thinking and math and see if it's worth to sell, Realtors are very fast at getting you into making an appointment and trapping the client, so just say, if their company provides that service, and you are doing some reasearch, and say you plan on selling by (not too soon) or else they'll corner you, and what they'll say is that the comparables are only good for about 3 months, so be prepared to give them a date of when you plan to sell.
Hope this helped. Good luck.

Answer 4

The poster above me is incorrect, there is no maximum commission that real estate agents can charge.

I am a Nassau County, NY RE Agent, and I know that commissions in the area typically range from 3-6%.

Additionally, the statement that many listings in the market means that you can get an agent to accept a lower commission is absolutely incorrect. Many listings means that an agent must work harder to sell you listing - meaning more effort, more advertising expense, and a HIGHER commission.

Additionally, the best agents typically are the least likely to negotiate their commissions downward, and guess what - they earn every penny.

It would be impossible to give you sales estimated without many more specifics, including exact location, the size of your home, and its condition. A good agent will present you with a full pricing analysis, based on comparable sales prices and the time it took to sell them in your area.

I would recommend contacting 2-3 prominent local agents in your area. In addition to their pricing analysis, make sure they tell you how their performance has been.

Answer 5

i am a partner in a multi office real estate company in new york state and i know i can help you find the BEST realtor for your situation since i know some of the best brokers in nassau personally.

to answer your question, by law real estate commissions are negotiable by law but i promise you that you should not pick your realtor by the fee they charge. generally speaking, your house is the single largest financial investment of your life why would you trust it with a person who charges you the least ... there is much more to it.

think about it this way, if you needed major surgery and your best friend suggested you go to a doctor that he knew was the best in the world would you start your conversation by asking, how much do you charge. now i say this from experience, my wife had breast cancer and when we went to sloan kettering and spoke with the best doctors we never once asked them how much?

feel free to check out my office website www.century21grand.com and look at magnet marketing for more info.

in any event, you can call me at 1-877-472-6810 and i will be happy to help you.