Home Buying in Malibu>Question Details

Panache, Home Buyer in Malibu, CA

Please advise commission rates for selling land in the Malibu area? thanks

Asked by Panache, Malibu, CA Thu Aug 19, 2010

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I own my own real estate firm and it provides me great flexibility on my commission, Call me direct so that i can offer you the best Deal!

I'll be happy to take a look at a property and provide you with free market price opinion.

Indeed it is a great market for standard sellers, not a lof of competition!

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Sergey Fednov

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3 votes Thank Flag Link Wed Apr 18, 2012
Hello Panache,
Where as Anna got it right that all commissions are negotiable... I happen to specialize in land sales, and I think the other contributors didnt read your question fully.

Their answers tend to go with home sales, and if you want to be a successful seller in this market, you want to pay the agents to sell your home. Total commission to be split between buyer and seller should be 5-6%. You will often see a very motivated seller paying 4% just to the buyers agent side in order to draw agents and their buyers.

However, if you are selling land, just as in leases, the typical rate is higher. Land sale commissions are generally 10% and split between buyers agent and sellers agent. I am known to sell a lot of land throughout the LA area, including Malibu, Topanga, throughout the Westside and Greater LA area.

The buyers pool for raw land is a lot smaller than that of improved land (already built) The marketing and advertising and general sale of land tends to be much longer than that of a home. If you want to sell some land, I would advise to speak to agents that are known for selling land. Not just one lot, but many land transactions and I am sure you will find the commission rates to run on par to what I have said.
I would be happy to meet with you. Always happy to assist....
Sincerely,
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
1 vote Thank Flag Link Thu Aug 19, 2010
It really comes down to "you get what you pay for" with regard to services and performance. If you want the best quality brokerage services, you pay for it. Remember, we have expenses to cover to get your property SOLD! At the same time, we try to make it work for the client as well.

As for Leasing or Land Parcels in Malibu, it's customary to pay 10% (5% to listing broker and 5% to selling broker, if there is no Selling Broker, then I would reduce the commission to 8% instead of 10%).

As for Home Sales in Malibu, it's customary to pay 5-6% (6% for Short Sale properties as the banks pays our commission for you). If there is no Selling Broker for the transaction, I would reduce the commission by 1%.

if Although everything is negotiable in real estate, it is best to go with the above or agents might be less willing to show your property. Sometimes it helps to makeadd Selling Brokers Bonus of an additional 1% commission if the property goes into escrow within a specified time frame ie: 30 or 60 days, to motivate brokers to bring their clients. Feel free to contact me if you have any questions.

Sincerely,

Adam Weintraub - Broker / Premier Estates Director
Malibu Estates
http://www.MalibuBeachEstates.com
Adam@MalibuBeachEstates.com
DRE 01221622
Residential & Commercial Real Estate - Sales & Leasing
Standard Sales, Short Sales, REO's, Foreclosure Sales, Probate Sales
Coastal Properties, Ocean View, Beachfront Estates, Investment Properties & Land Parcels
* We recruit the best agents in the business to par with our high standards
0 votes Thank Flag Link Sun Jul 1, 2012
10% commission is only reasonable for this area. We have more laws, ordinances, regulations in Malibu that in most places in the entire world plus Three different governmental agencies that over see the building process.
Most agent's in Malibu don't know land that well or the requirements. The agents out side of Malibu don't even know the questions to ask.
State Law dosen't require a disclosure form on land. Many owners don't know them or won't tell you. The over riding factor is the disclosure of any material fact that can adversely affect the usage of the land. The Coastal Commisssion ( won't let you plant roses). They have unwritten polcies that are illegal and unconstitutional and can cost a buyer thousand or total loss on his purchase. I have been Land Use Chairman for the Association of Realtors for ten years , plus a Bill reader for the CAR for three and I still have a hard time keeping up. Not only should we get 10% but some ADVIL thrown it!
0 votes Thank Flag Link Fri Mar 9, 2012
It is customary to pay 10% on land sales in Malibu - 5% to listing broker and 5% to selling broker. Although everything is negotiable, it is best to stick with the norm or agents might be less willing to show your property. Feel free to contact me for more information.
Web Reference: http://www.brokermalibu.com
0 votes Thank Flag Link Mon Sep 19, 2011
These commission rates are completely negotiable between you and the listing broker. If you have any other questions, feel free to contact me anytime as I work the Malibu area.

Heather Paul
Coldwell Banker
(424)625-1037
http://www.HeatherPaul.ListingBook.com
Web Reference: http://www.heatherpaul.net
0 votes Thank Flag Link Thu Jan 27, 2011
All commissions are negotiable. Period.

The broker of each particular company sets his/her rates, and the agents usually follow his/her rules.
0 votes Thank Flag Link Sat Jan 1, 2011
Each Realtor has their own business plan based on their agreement with real estate broker. Also agents could vary their % on the services they offer.


Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Jan 1, 2011
Great question, I would also suggest you look at the bigger picture in how to market land effectively in this economic climate. I suggest also to look into finding an agent/broker who can advise you in creative financing solutions to find buyers. Land can be a very tough asset class to sell in the current economic environment. The more creative & flexible you are on how to sell your land will bring you a larger pool of buyers & potentially a higher price. As far as your commission question, everything is negotiable.

Best of luck
0 votes Thank Flag Link Sat Jan 1, 2011
Panache,

Richard is correct that the difference in commission for land is very different than from homes. It is important to hire an agent who is experienced in selling land. Selling land is a completely different experience than selling built homes.

first steps to selling land are
Clean And Prepare The Land, Mark boundaries, if possible provide financing as this will make the land more attractive to a larger number of buyers. Land in Malibu is particularly tricky because you must determine if it fall within the coastal commissions jurisdictions , it is it in Ventura or Los Angeles county and many other factors.
0 votes Thank Flag Link Sat Jan 1, 2011
Dear Panache,

We cannot advise you on commission rates legally. I would however recommend you hire a Commercial Brokerage to handle Raw Land for you. This is their area of specialty and they will do the best job of marketing and selling your land.
0 votes Thank Flag Link Wed Dec 15, 2010
Commissions are always negotiable, regardless of whether you are selling land or a property on the land. Standard total commission is 5%-6%, most commonly 5%, 2.5% to each side. You can always negotiable with the listing agent, but its probably in the sellers best interest to offer a full commission to the selling side or buyers agent. If you would like more details, please don't hesitate to contact me.

ana Galuz
Senior Associate
Crescent Realty
yana@crescentrealtyla.com

(310) 595-5522 Direct
(818) 980-5040 Office
(818) 980-5020 Fax
0 votes Thank Flag Link Wed Nov 10, 2010
Keep in mind that all commissions are negotiable between you and your agent--there are no set standards--interview a few agents from different companies and choose the one you like best and has the most to offer.
0 votes Thank Flag Link Thu Aug 19, 2010
Hi there Panache, the commissions are negotiable, it will depend on many factors and to what level of marketing that you will want to attract the maximium amount of potential buyers.

I would be happy to go over this in more detail with you. The standard is 2-4%

Kind Regards
Michael Barron
Realtor
First Team Estates
0 votes Thank Flag Link Thu Aug 19, 2010
Hello Panache,

I just closed a home I had listed in Malibu. The commision varies from 2.5% to 2% depending on the price. The homes above 10 mil tend to be at 2%

If you need a CMA comparative market analysis to determine the value of your home, let me know.

Best,

Monique Carrabba
The Carrabba Group
Keller Williams Sunset
(323) 899-2900
mcarraba@kw.com
0 votes Thank Flag Link Thu Aug 19, 2010
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