i already have one for buying another but shes way too high for selling mine..she would want 10%! i never even heard of that! i know someone who will do it for 8% can I go with him?
2007-09-10 06:59:18 · 10 answers · asked by toolate 3 in Business & Finance ➔ Renting & Real Estate
jbarell - Good answer!!!!
jim m - please go talk to your broker before suggesting that commissions be set in any area.
jbarell is probably right - the 10% is probably the agent's estimate of all the closing expenses. Be sure that you understand what the two agents are saying - also, see if the agent who is helping you to find a house would cut their commission (or do a rebate) on the close of the second of the two. Better price for you, and the agent gets both transactions from you.
Note: There is no "set" commission anywhere. There may be average or "typical", but commissions BY LAW are negotiable and any brokers getting together to "set" the going rate will quickly land in prison.
2007-09-10 08:25:19 · answer #1 · answered by teran_realtor 7 · 1⤊ 0⤋
Ten percent seems very high for selling a house or condo. I often tell people to figure 10% for total selling costs, including commission, escrow fees, excise tax and miscellaneous costs (pretty much everything except loan payoff). Are you sure that this isn't what the agent was talking about?
Additionally, the commission is often determined by the type of property. 10% is not uncommon for bare land, for a manufactured home in a park or for "challenged" properties, where the selling price is likely to be very low and the work needed to sell the property is likely to be intensive.
As for having separate agents for buying and selling, that can be a good idea. Different agents have different strengths and talents, and the skills needed to help a buyer are somewhat different from those needed to market a property.
2007-09-10 07:39:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can definitely have more than one REALTOR but, before you hire the second one be sure what you have already signed with the first one! read it again!
Don't jut rely on what is said either commissions are negotiable and the first agent may want to list your property enough to meet the other REALTORS price. It's worth a question to find out! Good Luck with it.
2007-09-10 07:04:00 · answer #3 · answered by helprhome 5 · 0⤊ 0⤋
Yes. You can use separate agents - one representing you in selling your home, and one to help you buy the next one.
10% sounds really high to me. So does 8%. But this point is negotiable. Ask your listing agent - if he insists on 8%, if he will take less (5%? or 6%) if he brings the buyer. I think that would be fair.
Otherwise, check with some other agents in your area to see what they charge (full service, full time agents with proven sales, preferably in your neighborhood). In our market, we see more of 6%, but then every market is different.
Good luck and best wishes.
2007-09-10 07:08:15 · answer #4 · answered by venicefloridarealtor 4 · 0⤊ 0⤋
Read the contract you signed. It should tell you what services they agree to provide. They may have slipped it in that they'll help with buying AND selling. If so, you're stuck unless you want to wait until your contract expires.
Most people calculate the cost of a realtor in their selling price - you may just be stuck standing firm on your price.
2007-09-10 07:55:27 · answer #5 · answered by Roland'sMommy 6 · 0⤊ 0⤋
10% is extremely high! I've never heard of anything higher than 8%. Washington state is usually 6%. You have to ask yourself, if you sell your home for $250k, the real estate agents share the 10%, or $25k. Is their service really worth that much money? I have yet to meet an agent who is. Definitely shop for something better. -Tomkat-
2007-09-10 07:09:33 · answer #6 · answered by Tomuneko 1 · 0⤊ 0⤋
The fees for Realtor services are paid from the commission paid by the seller. You should not have to pay the Realtor who finds your new home and negotiates the terms of sale.
2007-09-10 07:05:29 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Yes, anyone moving too far for the same realtor to be working in both places does this.
Also, most realtors charge only 6%.
2007-09-10 07:47:39 · answer #8 · answered by StephenWeinstein 7 · 0⤊ 0⤋
yes, you may. You can sign two different contracts if you want.
Are you moving to another part of town or another part of the state or out of state completely.
If you are staying in town why have 2 agents? If you are moving out of town, then of course you will have 2 agents.
2007-09-10 07:06:00 · answer #9 · answered by satrurn1256 2 · 0⤊ 0⤋
Don't list your home for over 6%. That is absurd.... There really should be set commissions in your area.
4-6% max.
If they don't want to do it.... find someone that will. If you need help .... I am an agent..... and I will find you someone to help you.....let me know.
2007-09-10 07:45:18 · answer #10 · answered by Jim M 2 · 0⤊ 1⤋