The buyer can ask their buyer's agent to donate a portion of their share of the commission to the buyer at closing to reduce the cost of the purchase, but that's just like asking the banker to give you some of his salary to use his bank. I wrote a blog on asking for a portion of the buyer's commission that explains why that isn't really fair, and should be avoided. You can read it at http://www.trulia.com/blog/jim_olive/2013/01/understanding_h
Some people think that commissions are huge sums of money that exceed the value an agent brings to the process, when in fact most agents are not making a huge annual income, since that could well be their only sale of the year and the sum total of their annual income. It's important to understand things before passing judgement and taking action. As a consumer, before I became a Realtor, I always appreciated agents and would never have ventured into anything as big as a real estate transaction without the benefit of their knowledge and experience.
They must split the commission with the buyers agent. So lets say I am selling your house . I charge you 6% commission . Your house sold for for $150,000 . At the settlement table out of your proceeds comes 6 % >> 9000.00 . Selling side keeps 1/2 >>Buyers side keeps 1/2
Not all profit for us though . We now need to pay our taxes, we are on a company split, have a franise tax to pay and end up with what is left.
Best to interview some agents asking them about there plans to get your home sold .And sold in a limited amount of time. Find out about there marketing. Like where do they market your home?
Does you NO GOOD to get cheaper rate if you do not have any showings and just sit on the market.This then gives the impression that there is something wrong with your home.
The fact is - there are a lot of agents that get a listing contract, drop it off to their office - and let an assistant slap it onto the MLS and various websites and sit back waiting for phone calls. They often don't have hard data to back up exactly what sites they are on, and why. A marketing plan should be custom, and tailored specifically to you property, and the type of buyers it will attract. Your agent should have an answer for every aspect of their marketing program - and why it's included in your plan. Spending hundreds of dollars in newspaper ads, and postcards that are sent out to people who 99.9% of which aren't in the market to buy a home - simply doesn't work today. Your agent should know "how" buyers search for homes today, and be able to explain everything to you in detail.
As far as the commission goes - everything is negotiable.