Kristen, Home Buyer in Chicago, IL

How much is the common real estate commission for the buyer and sellers agents?

Asked by Kristen, Chicago, IL Fri Jun 19, 2009

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4
Alan May’s answer
There is no common, average, usual, typical, or normal commission. In fact it would be considered price fixing for us to say that there was.

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.
2 votes Thank Flag Link Fri Jun 19, 2009
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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Kristen,
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.

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlamericorp@aol.com
708-250-2696
1 vote Thank Flag Link Fri Jun 19, 2009
The answer to your question will be found here..... http://www.trulia.com/voices/Home_Selling/Can_low_commission…

Over 200 comments mostly agents answering your question in great detail.

A must read and good indication of what to expect.

Good luck, Dunes
1 vote Thank Flag Link Fri Jun 19, 2009
Hi Kristen

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!
Web Reference: http://www.kalerealty.com
0 votes Thank Flag Link Fri Jun 19, 2009
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