Priscilla - I am not an agent and I have no objection to Sellers who opt to go FSBO. If you are offering 4% to a Buyer's agent and you paid a Flat Fee service...are you paying for your own ads? holding your own Open Houses? following up with the agents who do show your home?
Many listings in our area are at 5% total commission...some are at 6 and others (mostly new construction) are at 4%. I know that R.E. Commissions are negotiable, however, what's the "going rate" in your area?
May I ask, how much do you hope to save?... more
Great question!! Commissions are ALWAYS negotiable! It is illegal for a real estate agent to "set" a commission rate. Typically buyer's agents receive anywhere from 2.5% to 3%, however, there are some sellers that offer a flat fee and some sellers that offer a higher commission or even bonuses (2.5% plus $1000) in an attempt to obtain more buyer traffic. That being said, if your home is a home that a buyer desires and an agent is working with that buyer, the agent should approach you (just as Nichole mentioned) with a proposal for an agreed commission. You can agree or disagree with the request and negotiate a rate that you are willing to pay.
But beware!!! Many real estate agents use this tactic to get in the door and will then solicit you for the listing!
Have you been approached by a Realtor? Did they schedule an appointment with a qualified buyer?
Please feel free to contact me if you have any further questions or need assistance. I have work for Prudential Starck on Randall Road and I too live in Gilberts! I have some great FSBO information that may help you!
Prudential Starck Realtors
Cell: 630-404-2646... more