Home Buying in Parma Heights>Question Details

Joyce, Home Seller in Parma Heights, OH

Do all realty companies charge 7% commission?

Asked by Joyce, Parma Heights, OH Sat Jul 14, 2012

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Alison Giraldo’s answer
Not all companies (brokers) charge a 7% commission, but they all want to work with you. Once you find an agent and broker that you are comfortable working with, then talk to them specifically about commission and what you are comfortable with. Naturally commission concerns most sellers, however, since that is a negotiable topic, I recommend focusing on your connection with your broker and agent to make sure they connect with you. Once you are comfortable the conversation about commission will be an easy one.
0 votes Thank Flag Link Sun Dec 9, 2012
Typical commish is 6 % but some large companies will first ask 7% until you close the door. Note it goes both ways, when you try to get 5 % most agents wont even show there buyers your listing and if your willing to pay 7 it will obtain alot more activity. Look for agents who have a high sell rate. This will show there capable to close a deal. THis is a salesman job no matter how you cut it , and would you trust a friend with your largest purchase of your life if they have only sold 25 homes in a year ? As in every profession if you want the best you pay for it, if you think all agents are the same keep your pen in your pocket.
0 votes Thank Flag Link Sun Feb 1, 2015
Just saw this post and these answers. Too funny. It's not how much you pay, it's what you get for your money and by all means, not every commission salesperson in or out of real estate does the same work with the same results for the same rate of pay. Some way, some how, you will likely get what you pay for. Pay too little and you get half a loaf.
0 votes Thank Flag Link Thu Jan 29, 2015
No, they don't...............nor do they all charge 6%.........nor do they all charge 5%............or 4%......or.....any other number.

You want to know why?

Because..........Commissions are negotiable.

Period, end of story!

(btw - if you meet with any agent who tells you that "all the other compaies are charging X%" , they are breaking a serious federal anti- trust law by trying to set a commission)
0 votes Thank Flag Link Sat Jul 14, 2012
Joyce, Real Estate Commissions are always negotiable. That is the answer to the question as they teach it in Real Estate Schools. The true answer is that many companies do not really allow their agents to negotiate their commissions on their own, they must present their case to their broker for final approval.

The real answer is that costs across the board are pretty much the same for all brokers and agents, its only a matter of what services are provided for the money being spent. Some companies will charge less for less in service. Some offer premium services whether you need it or not.

If you wish to know what services the commission you are paying is getting you, then make a list and interview some agents. Most agents know that sellers seldom actually interview more than two agents. Interview agents and ask them what services they provide and what commissions they expect to receive for that level of service. Any agent is free to tell you they will not work for less than $"x" and that is their right. What is prohibited is negotiating commissions with the other brokers to keep rates higher. Costs are high, prices are low, sales volumes are also low, and agents do have the right to earn a living.
0 votes Thank Flag Link Sat Jul 14, 2012
Negotiable is the correct answer...
0 votes Thank Flag Link Sat Jul 14, 2012
In real estate, we don't charge a set commission. We always negotiate a rate that makes sense for both the client and the agent. I've only seen 7% once.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat Jul 14, 2012
I have heard that that is universal, starting next week.
0 votes Thank Flag Link Sat Jul 14, 2012
I have never heard anyone charging that, but I have only been a Realtor for 24 years.
0 votes Thank Flag Link Sat Jul 14, 2012
In my experience the answer would be no. Most things in real estate are negotiable.
0 votes Thank Flag Link Sat Jul 14, 2012
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