2006-11-20 01:03:25 · 9 answers · asked by kirk D 1 in Business & Finance ➔ Renting & Real Estate
Realtors are not allowed to discuss specific commission percentage, in a public forum. We can however, discuss the commission with someone who is retaining our service, either listing their home for sale, or if we are acting as a buyers agent.
I suggest you discuss your needs with a local Realtor.
2006-11-20 01:13:22 · answer #1 · answered by cindyrose 2 · 0⤊ 1⤋
If you're going to list your house with a Realtor, make certain that he offers at least the average going rate to the buyer's agent.
If 3% is typical and you want a fast sale, or it's a buyer's market in your area, offer 4% or 5% to the buyer's agent. Some companies will do a "cut rate" commission, but keep in mind - if you have three people you work for and one pays you less than the others, who gets better service? Again, make sure that the commission offered to the buyer's agent is at least the going average for the area, even if the listing is for a total of 5% or even 4%.
2006-11-20 09:14:25 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Typically, a realtor gets 6% of the sales price. However, there may be other variables that affect what they're paid.
1. If you were the one who found the Buyer, I'd negotiate a lower commission.
2. If listings are hard to come by in your area, and properties are moving fast, I'd negotiate a lower commission.
2006-11-20 09:11:03 · answer #3 · answered by Le_Roche 6 · 0⤊ 0⤋
In many area you can find a discount broker, for as little as 2%. If I were selling I would first look at the market. If you are wanting to sell in a "sellers" market, then chances are your Realtor is not going to have to do much to sell it. In fact you could "FSBO". However, if you are trying to sell in a "buyers" or slow market you may need a top notch agent to get your house sold, in which case you would want to pay to "normal" rate of 6-7%. These commission rates are based on SFR and do not apply with other types of real property.
2006-11-20 09:15:44 · answer #4 · answered by michaeltgilbert 1 · 0⤊ 0⤋
The realtor should get a fee that reflects what they do. A percentage based charge is a clear rip off, just as are builders rates that are similarly based on an inflationary market. Don't pay the bogans!
Demand that the realtor gives you an itemised account, that clealry identifies what they are charging for. Tell them to shove there percentage, as there are a number of alternatives.
2006-11-20 09:14:10 · answer #5 · answered by Ranjeeh D 5 · 0⤊ 1⤋
How much should anyone make?? It should be decided by the market.
Also, keep in mind the commission is split four ways, most times.
And if you want to have a pay for service structure, keep in mind, all the services provided by agents for free right now (CMAs, showings, advice, etc.), will go by the way side.
2006-11-20 13:49:20 · answer #6 · answered by Anonymous · 0⤊ 0⤋
"Typical" commission varies from state to state..I am in Kansas and commission is negotiable..However, In the office I work for 6% is the basic commission for residential sales and can be as high as 10% for commercial listings..This allows us to be competitive in our MLS system and offer 3% to a buyer agent..
2006-11-20 09:06:28 · answer #7 · answered by Littlebit 6 · 0⤊ 0⤋
if you are a licensed real estate broker you are entitled for an outright 5% commission. if you are not, you get any where below 5%, or negotiable,u cannot demand. unlike, if you have a license your commission is demandable at 5%.
2006-11-20 09:15:41 · answer #8 · answered by ahlyx 1 · 0⤊ 1⤋
as much as possible.
2006-11-20 17:59:51 · answer #9 · answered by Morpheous 3 · 0⤊ 0⤋