Hi,
I am negotiating the commission that the agent receives when he sells my house. He is asking for 3% but Im sure I can negotiate a better deal than this. To anyone that has sold their house recently, how much did you pay to your realtor?
2007-03-13 14:36:20 · 12 answers · asked by Narelle T 2 in Business & Finance ➔ Renting & Real Estate
Sold a property in Girraween (Sydney) late last year. Our agent listed, advertised, did open houses and was always happy to be called at any time, we paid him 2.75% and no sale no cost - we had to sign an exclusivity deal for 3 months .
2007-03-14 09:03:20 · answer #1 · answered by zappafan 6 · 1⤊ 0⤋
I sold my house in December and paid 6%, don't forget what is involved on your agent's end. There is a lot of work to do, he will pay for any and all ads and then when the house does sell your agent will most likely split the commission with the buyers agent which means that at 3% your agent is making less than 1 1/2%. I think 6-7% is common.
2007-03-13 14:41:53 · answer #2 · answered by ebosgramma 5 · 1⤊ 0⤋
I suggest you pay your agent what you think his/her services are worth. What I mean is a typical listing in my area ranges from 5-7% of the sales price. All things being even implies your agent makes between 2.5% and 3.5% of the sales price and the other agent will receive the same commission.
Greed is a terrible thing but it can definitely work in your favor. I say pay 7% but make sure the agent that brings the buyer receives 4%. Agents see $$$ They can bring a buyer to your house at 123 Main Street and try to sell it at 4% or take you to the neighbors house and sell it at 2.5%. The lower the commission the lease likely an agent is going to trying to sell your home to their client.
On the other side of greed....The bottom line counts for you. If you want $100K in your pocket what do you care if the agents make a total of $12K Pay them to get you the results you want.
2007-03-13 16:03:33 · answer #3 · answered by manny d 3 · 1⤊ 0⤋
I live in Victoria, Australia. I am going to put my house on the market in the next couple of weeks. I have talked to three estate agents. The first wants 2 1/2% but this includes Advertising, a board out the front, if I want it. I would pay him nothing else. The next two want 1 1/2% plus advertising. They seem to think that this would come out between $1000-2000.
This money would pay for internet, newspaper and there magazine adverts plus the board. It would depend on the value of your house which way you would go. But 6%. I would find other agents to ask before you do anything. My place is in Melbourne and 1 1/2 seems to be the normal thing, with you paying the advertising costs.
2007-03-13 22:57:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Is this agent listing your home for 3%? If he is, you have a good deal. This is unheard of in my area. Make sure you know all of the services he will be giving you for the 3% (advertising, is it on the multiple listing service - MLS, will it be on a website - Realtor.com, will he do open houses if you want them, etc.) Some Realtors who list properties for a discounted rate also give discounted service and then nickel and dime you for everything else.
If you are selling your home yourself and he is asking for 3% to represent the buyer, then this is average. Most agents will not do it for less than 2.5%. There is a lot of work a Realtor does that nobody sees. It would be worth the money since you would not need to make sure the buyer is getting their loan, scheduling inspections, etc. Also, remember that he is representing the buyer, and not you.
Hope this helps, good luck!
2007-03-13 14:57:53 · answer #5 · answered by c21bucks 2 · 1⤊ 0⤋
Make sure they don't get a cent unless they sell. You can save all commissions by selling it yourself. Go to Neil Jenman's website for free info on how to do this. Basically, all you need is a settlement agent. Two women friends of mine sold their own houses and saved thousands and had a ball doing it. There are companies that show you how to sell for about $1000.
2007-03-13 22:03:22 · answer #6 · answered by Anonymous · 0⤊ 0⤋
What is acceptable to pay your agent is 6%. He is only asking 3%? Are you getting full service for that 3%? And don't forget he may have to split that 3% with the buyer's agent and no agent is going to show your home for little or no commission. So go ahead offer him 6%. 3% each side.
2007-03-13 15:03:06 · answer #7 · answered by loladrewblue 4 · 1⤊ 1⤋
Average is about 6% for full service agents. That must then be split between listing and selling agents. Most will give a discount if they list and sell it.
2007-03-13 14:41:58 · answer #8 · answered by Brian G 6 · 1⤊ 0⤋
I believe that whatever you feel the realtor is worth should be the payment. If they did a great job for you they deserve a great paycheck. You could'nt even imagine all the work that goes into selling and financing homes/
2007-03-13 15:27:48 · answer #9 · answered by Anonymous · 1⤊ 0⤋
3% is more than fair...the usual is 6% if the listing agent sells it.
2007-03-13 14:52:17 · answer #10 · answered by Shasta 2 · 1⤊ 0⤋