Home Buying in 91360>Question Details

Marie, Home Buyer in 91360

What are realtors charging for their services both to sellers and buyers nowdays? Marie

Asked by Marie, 91360 Fri Feb 13, 2009

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Jason Cortina’s answer
Agents don't typically charge buyers because we are paid by the seller. Buyers usually pay with their loyalty to the agent working on their behalf. Regarding sellers, most "full service" Realtors are charging between 5% - 6%, with half of that going to the agent that represents the buyer that purchases the home. However, commissions are always negotiable, depending on your particular needs. - Jason Cortina, Broker-Associate Lic. 01352291 Troop Real Estate www. ThousandOaksHomeFinder.com
1 vote Thank Flag Link Wed Feb 19, 2014
BEST ANSWER
Hello Marie,

What do Realtor's get paid? We work hard and have very high expenses. For example I spend about 65% of my total commission on marketing, advertising and expenses. Buyer's do not have to pay a commission. If a property is a short sale my experience is that the commission is 2-3% to each agent. When I take a listing, depending on factors the commission is 2.5-3% for my services to list the home. My company will not allow me to offer the buyer's agent anything less than 2.5% commission. That puts the total commission at 5%-6%. This is just from my experience. I have heard in other states it can be as high as 7%. Leases, land and commercial property usually have higher than customary commissions. These are the averages and it varies from one agency to the other as does the level of service.

Best,

Monique Carrabba
The Carrabba Group
mcarrabba@kw.com
323.899.2900
0 votes Thank Flag Link Fri Feb 13, 2009
Typically Realtors in Thousand Oaks & other Valley areas do not charge anything to the Buyers, they share the commission with the Listing Agent. With Sellers as advised by several other members, it is normally negotiated.
1 vote Thank Flag Link Wed Jul 30, 2014
It's FREEEEEEEE to work with a Realtor if you are looking to buy (or even rent)!
Seriously, totally free.
How?
Because when a Realtor works with buyers, they get paid by the seller. That's why you should always always always work with a Realtor if you are looking to buy!

If you are a seller, that is negotiable. But keep in mind that whatever you agree upon, 50% of that goes to the buyer's agent. So if you agree on a very low commission and have to split it, the buyer's agent may be less incline to show your property if they see that they will only be getting a very small commission. It's mean, but it most likely happens.
0 votes Thank Flag Link Sun Aug 17, 2014
Hello Marie,

Buyers do not pay any commission for our services. All commission comes from the Seller of the property.

Please let me know if I may answer any questions. My E-Mail is EdwinE@bhhscalhomes.com

Thank you!

Sincerely,

Edwin E.
Berkshire Hathaway Homeservices
Cell (805) 990 2178
0 votes Thank Flag Link Thu Aug 14, 2014
The short answer is commissions are negotiable. You want to strike a balance between a good deal and a percentage where it's going to get the best effort from your professionals. If selling a home you want to make sure the commission is high enough that agents will bring their buyers to the property.
0 votes Thank Flag Link Thu Feb 6, 2014
Hi Marie, It has been just over a year since you posted your questions. You noted that you were a home buyer. Did you end purchasing a home, did you personaly pay fees to your Realtor direclty? Just wondering what the outcome was. So many Realtors participate and we never hear back from the people who post the question. If you have a minute, maybe you would post a follow up/conculsion.
Web Reference: http://www.ConejoLiving.com
0 votes Thank Flag Link Mon Mar 8, 2010
Full service listing fees normally range from 1% - 3%. Usually, agents with larger companies charge more because their overhead and costs associated with that company costs more. Smaller offices are more flexible. Keep in mind this is only for the "listing side". "Selling" or buyer agent fees seem to average about 2.5%. Larger companies do a lot of "institutional" advertising which doesn't help in selling your home but adds cost to the company to compete for business (sellers).
Buyers usually don't pay their agent direct...their fee comes from the "listing" agent as stated above. There are companies that will rebate a portion of their "selling" fee to you at close of escrow.
When choosing an agent to represent you look for experience, confidence, and chemistry as buying or selling a home is stressful and you want someone you like on your side. Good luck...

Jeff and Cheryl Fox

Properties Plus
818-995-9108 Office
800-917-8080 Toll Free
818-207-2013 Cell
Email: mail@jeffandcherylfox.com
Webstie: http://www.jeffandcherylfox.com

16133 Ventura Blvd. 7th Floor
Encino, CA 91436
0 votes Thank Flag Link Fri Feb 13, 2009
I see you have asked this question as a "home buyer". The answer for a buyer is, there is no charge for professional services to a buyer. A buyers agent gets paid by the sellers co-op agreement, which the seller agrees to when there home is listed.
As for the fee to market and list a home for a seller. This is negotiable! There is no set fee, it is against the law to set fees as Jason stated. I hope this helps. :)

Larry and Stephanie Watson
REALTORS, E-Pro, Eco-Broker
CrazyForRealEstate@yahoo.com
Stephanie 805-208-8219
Larry 805-660-8219
Both Of Us 818-606-0080
Fax 805-578-1519
http://www.CrazyForRealEstate.com
R.R. Gable, Inc.
0 votes Thank Flag Link Fri Feb 13, 2009
Ask each person you interview to represent you and you will recieve different responses. Discuss it with who you decide is going to best represent your goals. As I understand it, there is no Standard % or fee, it can all be discussed with the agent before any signing of contracts. It's a business deal for services. You need to be willing to pay if your goals are reached through your representatives efforts. What the price is that you are willing to pay can only be your decision.

Dunes
0 votes Thank Flag Link Fri Feb 13, 2009
Great question: Realtors based on their broker agreement can vary, however general rule of thumb :

Listing broker agent 3% of sales price - broker can takes a % based on realtors contract
Buyers broker agent 3 % of sales price - broker can takes a % based on realtors contract

Listing agreement with seller can vary what the listing broker and buyer broker can earn based on seller specifications.

Monique is correct regarding after an real estate agent receive the % from broker they have to cover their own expenses from car, insurance, gas, maintenance phones, computers, websites, office desk fees, website expenses, pass keys, signs, lock boxes, office supplies, state regulated educational classes, realtor board fees, much much more.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Fri Feb 13, 2009
Marie,

As Jason mentioned below. I would contact both kinds of agencies. Full service agencies will do everything from list your home in the MLS to creating post cards and fliers to door knocking your neighborhood and much more. Discount agencies obviously will not do as much as full service agents.

Keep in mind that everything in an agreement between you and your agent is negotiable. However, most full service agents believe that their work is worth a certain amount. In the long run, you get what you pay for.

Hope this helps...
Web Reference: http://www.themmteam.com
0 votes Thank Flag Link Fri Feb 13, 2009
Marie,

It is against anti-trust laws that the answer to your question can not be disclosed here. You should contact both full service firms and discount firms in your area, ask them what their firms fee is for listing and what that includes.

Jason Ewing, GRI/CNS
Coldwell Banker Triad, Realtors
0 votes Thank Flag Link Fri Feb 13, 2009
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