The house should sell for $175,000. What per cent should I expect to pay the realtors?
2007-09-13 15:32:42 · 9 answers · asked by DarusEvilTwin 2 in Business & Finance ➔ Renting & Real Estate
Every one is incorrect! Commission is ALWAYS NEGOTIABLE!! That is like Real estate 101! There is no "standard", "average", or "norm"! ALWAYS NEGOTIABLE!!! When negotiating commission, keep in mind that your agent must offer what is known a s a co-op commission. This means if for example they are charging you 4%, they will split that (usually between 2-2.5%) with a buyers agent. You never want your agent to offer less than 2% to possible cooperating agents so you may have a hard time finding agents willing to list for less that 4% though again, IT'S NEGOTIABLE!
2007-09-13 15:55:49 · answer #1 · answered by #1Realtor® 3 · 3⤊ 0⤋
Thats exactly right, commision is never set in stone. That being said its a double ended sword. If you list with a company like "Hope you Sell" (Ooops I mean "Help you Sell") some will charge less to list and offer the standard 3% to the selling office. That sounds great but then you have an office giving you less than perfect service which isnt something that would be in your best interest considering they are the ones negotiating with other Realtors regarding your purchase price and terms. Keep in mind the Realtor keeps only a percentage of the total commission and its not 50/50. In most cases if the Realtor is experienced and a top producer they generally are getting closer to 80-90%. You also want to consider offering an attractive commission to the selling office so that the Realtors representing the qualified buyers would show your home over the hundreds of other homes on the market at this time. Long story short anything under $500,000 should be paying at least 6% split between both brokerages. Remember these people are professionals just like everyone else, you don't go into the doctors office for knee surgery and ask for a discount..
2007-09-13 16:35:38 · answer #2 · answered by REIQ 2 · 2⤊ 0⤋
A broking provider is the pinnacle of a real sources place of work. he's in charge for the strikes of all sales human beings in his company. A Realtor is a member of a professional association and could require to their ethical standards. the two a broking provider or a sales person can belong to the Board of Realtors yet no longer belonging should not be seen adversely.
2016-10-04 13:10:24 · answer #3 · answered by Erika 4 · 0⤊ 0⤋
Typically 6% split between the two realtors. But you need to decide/negotiate this before you sign a Purchase and Sales Agreement.
2007-09-13 15:42:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Most realtors will want 6% commission. Assist To Sell gets less commission if they sell it and the same if another agent brings the buyer. With Assist to Sell you will get less help from your realtor. This is a bad market in most places so a good realtor is important. Interview them and see what they have sold in your price range...YOU get to choose who you hire!
2007-09-13 15:36:45 · answer #5 · answered by bevrossg 6 · 0⤊ 0⤋
If you are selling unimproved land, some want 10%. 6% is common but if the property has a very low or a very high value, it could vary.
2007-09-13 15:42:42 · answer #6 · answered by Bibs 7 · 0⤊ 0⤋
Figure 6% in most places and if your broker charges less, it's a bonus for you.
SE Michigan is 7%.
2007-09-13 16:36:32 · answer #7 · answered by Marc X 6 · 0⤊ 0⤋
Standard is 6% - buyer and seller agent get 1.5% each, and the real estate firms they work for get 1.5% each.
2007-09-13 15:36:50 · answer #8 · answered by Anonymous · 1⤊ 0⤋
It's in your contract and the amount IS negotiable BEFORE you sign it, not after.
2007-09-13 15:39:08 · answer #9 · answered by annazzz1966 6 · 0⤊ 0⤋