2007-01-22 13:16:49 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
First, does your agent tell you what you're worth in your vocation?
Each state varies. The norm, can be anywhere from 6-7%, understanding that this is split with the agent that procures the buyer, at the advertised cooperative in the MLS.
So, your agent will receive 3-3.5% for their work, including all expenses related to the transaction and the advertising of the property, which can be hefty.
Often times, the agent will reduce the total commission if they procure the buyer; which is illegal in many states and write that into the listing agreement.
You should determine, based on the marketing package presented to you, what the agent is worth. If they are putting it into the MLS and sitting back waiting for someone to bring the buyer - that's probably not someone that you want "working" to sell your home anyway.
Higher priced homes, are more expensive to advertise if it's being done properly, so that shouldn't be a factor; as everyone assumes their commission will be so much greater - they don't consider the costs of marketing such a property.
You do get what you pay for the majority of the time.
Best of luck and I hope this helped!
2007-01-22 13:48:41 · answer #1 · answered by ☼High☼Voltage☼Blonde☼ 4 · 1⤊ 0⤋
Typically it is 6%, split between the seller's agent and buyer's agent. If you use one agent to work both ends (which is rarely a good idea), then he/she would get the entire 6%.
If the property is of high value, most agents will accept a lower commission.
2007-01-22 21:32:24 · answer #2 · answered by mickeyg1958 4 · 0⤊ 1⤋
all agents commissions are negotiable, I for one usually list @6%, 3% for the listing agent and 3% for the buying agent. I have discounted my percentages when it is family. Talk to your agent negotiate your percentages.
2007-01-23 10:22:48 · answer #3 · answered by sylviavnpttn 5 · 0⤊ 0⤋
It is not how much they get, but what they ask for - it can range from 3-6 percent. If you are unhappy with the contract -do not sign it and tell them you will check elsewhere for a lower commission....They may lower it.
Get referrals and select someone who knows your market and the neighborhoods.
YOU CAN ALSO DO A FOR SALE BY OWNER - YOUR MORTGAGE BROKER (of your client that wants to buy your home) WILL HELP YOU & THE BUYER FROM START TO FINISH, TO CLOSE YOUR LOAN. THE PERSON YOU ARE WORKING WITH, WILL ORDER TITLE, ANY SURVEY’S NEEDED, INSPECTIONS IF NEEDED, ORDER PAYOFFS ON SUBJECT PROPERTY IF THERE IS A MORTGAGE ON THE PROPERTY.
Good Luck to you
2007-01-23 01:13:33 · answer #4 · answered by W. E 5 · 1⤊ 1⤋
Depends on how much your selling your house for, but I've sold 4 houses in my life and never paid over 4%.
2007-01-22 21:24:17 · answer #5 · answered by Jhaycen 3 · 0⤊ 0⤋
I do not know if it varies from state to state or from company to company, but the one my mom and sis and grandma used got 7%.
2007-01-22 21:23:08 · answer #6 · answered by Anonymous · 1⤊ 0⤋
This is a simple one. No more than 7%. Any more than that and they are taking you for a ride.
2007-01-22 21:22:25 · answer #7 · answered by nebula7693 4 · 0⤊ 0⤋