what is the percentage a realestate broker can charge for commission to sell your home?

Question

This is in California I need quick answers

Answer 1

The standard is 3% to each agent, so a total of 6%. You see 5 a lot too, but if you go too low the selling agents won't show the house.

Answer 2

What ever you two want to agree. There is no law in CA that sets the rate.

There is convention. If a broker charges too much some other broker will do it for less.

There is also a difference in the service levels. Some Internet based brokers will charge 1% to 2% or a flat fee.

Full service brokers will be in the 5% to 6% range but many will charge less.

If you were selling a lot and the value was not that high then 10% might be correct.

Answer 3

I am not sure about Ca. BUT in most states..it is what the market will take....commissions are negotiable...but remember...in many ways you get what you pay for. A higher com. is not necessarily a bad thing...it will get faster results as the brokers split fees..and now in many companies the amount of advertising directly relates to the split.
Brokers spend millions annually on advertising...people don't think of how it gets paid for...they are in biz to make money...
Check the programs out and see what is best for you...it may not be the cheapest...assist to sell charges 2 %....they list it on the mls and web...and split it 1% to them and 1% to the sales broker...the Broker splits it 1/2 % to him and 1/2 % to the salesman....If a salesman can show a 300,000 home and make 1/2 % he makes 1,500 if he can show a 100,000 home and make 2% or 2,000 which do you think he will show..or even better..if he can show a house up the block for 300,000 that he gets 2% that's 6,000...do the math..they are in it to make money...the office I work for has 3 programs...9.5%...massive ads open houses broker shows..billboard listings mls 8% open houses ads in papers, mls, along with the net 7% ads on the net, news papers and mls service varies with price...Also remember...try as we will we don't sell every house and the money we spend on a unsold home is not paid back by the seller...Getting a pro to do the job ...surveys have shown that even after the fees are paid the sellers many times earn more.with less hassels...Good Luck

Answer 4

In many states this is 6%; others it is 7%.
In most states this is completely negotiable. Check with friends and neighbors, if you have no family to advise. If you shop around, you can find it. However, some agents collude with others to make sure you can't find the lower rate. Some agents will go as low as 3%. An exclusive buyers agent will often do if for a fixed fee. Look in the yellow pages, they advertise as a sellers broker.

Answer 5

The old standard was 7%. Split 60/40 between listing agent and the selling agent (agent bringing the buyer).

Now, I'd guess that 5-6% is much more common. They still usually do a 60/40 split, but the selling agent rarely gets less than 2.7%, so it's almost leaning towards being the selling agent now.

Answer 6

Antitrust laws does not allow for commission rates to be set. All commissions charged by a real estate agent can be negotiated.
Department of Justice Antitrust issues in Real Estate (testimony)
http://www.usdoj.gov/atr/public/testimony/217299.htm

Answer 7

By law all commissions are negotiable, so what ever you can negotiate will be the commission you pay. I would say be prepared to pay 5-6%.
RE Agent,
Remax

Answer 8

In Australia it's 10% I think

Answer 9

6%. Though it depends on the contract you sign with them. If it's your listing agent you can sometimes get them to negotiate for less if they really want to get your listing.

Answer 10

Whatever you can negotiate.