We are prohibited from even discussing our own fees, amongst realtors, because it could be considered an attempt to "agree on a fixed price" and would violate the Sherman anti-trust laws.
Each agent, and agency negotiates the commission that they feel they need and deserve in order to properly market your property.
I dont think there is a "common" commission. In fact, it is illegal for agents to say we charge x amount because everyone else charges x amount. Each agency is different, and each offers different comissions, for different services. I think your best bet is to call up a few agents and talk to them about what they charge, and what services you get for that price. I would be happy to discuss my companies commission with you. I wish you the best of luck.
Americorp Real Estate
Brokers Associate, e-PRO
Over 200 comments mostly agents answering your question in great detail.
A must read and good indication of what to expect.
Good luck, Dunes
In Roscoe Village its important to offer at least 2.5% to the agent who brings in the buyer. If you offer more like 3% its more incentive for Realtors to bring thier clients to your home.
For listing commission you can either hire a full service agent at 5.5% or 6% (For a $400,000 home that is around $24,000) or you can hire a company like mine and pay $299 up front for all the exposure, selling tools and support.
More info. please check us out http://www.kalerealty.com
Best of luck!