Home Buying in Miami Beach>Question Details

asantana786, Home Buyer in Miami Beach, FL

what is the typical commision for a condo sale at 1000 west ave miami beach florida 33139?

Asked by asantana786, Miami Beach, FL Fri Nov 16, 2012

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14
Hi,
This is something you will have to discuss in person with a real estate professional. Feel free to give us a call.
3 votes Thank Flag Link Mon Nov 26, 2012
Quick excerpt from an article on anti trust laws.........and real estate:

"Each and every salesperson, real estate broker and broker associate should be forewarned that there can be no innocent conversation with persons in other business offices, regarding commissions or the business practices of any other enterprise. Telephone calls, conversations in person, letters or e-mail communications, online forums, all represent an invitation to extreme liability............etc"

here's another excerpt from another article.:



Agents and brokers in any setting, business or social, should take great care to never even discuss commission rates in any context. It's much better to be safe than sorry in this case.
Sorry, there is no standard, normal, usual or regular commission. An acceptable commission is, by definition, one that is proferred by the agent, and "accepted" by you. Agents and agencies charge what the feel their local market will bear, and what they believe their services are worth.

Here is advice to agents on the subject from a local board's website regarding anti-trust guidelines:

At any time, in any place, or under any circumstances, do not have any personal, telephone or e-mail conversations with competitors concerning commissions, fees, charges or any other business practices of your real estate business or those of the firm with which you are associated. This applies at social gatherings, on the golf course, while hunting, in the bar, cocktail parties, board functions and at all times and in all places. At association or board meetings, confine discussions to topics of association or board business directly involved in the purpose of the organization and the meeting.

Anti trust laws prohibit agents from discussing commissions percentages in public. Commissions are negotiable. Agents even within a brokerage firm are allowed to set their own commissions based upon their business models and market value of services. When an agent discusses your home sale with you he/she will let you know what his/her charges (commissions and any other fees they may have) are and how they are to be split between seller broker and buyer broker
2 votes Thank Flag Link Sun Nov 18, 2012
In Miami Beach the commission is usually 2.5% for the listing and 2.5% for the buying agent, however as has been industriously and correctly posted below, this is always negotiable. I specialize in Miami Beach condos, please visit my site for listings.
1 vote Thank Flag Link Wed Nov 21, 2012
Commissions vary. 5% is very low (though commissions are always negotiable). MOST agent are getting 6%. A discount broker may take 5% or less.
Flag Wed Nov 21, 2012
This depends on the agreement between you and your agent. Debra Rose has the most accurate answer.
1 vote Thank Flag Link Wed Nov 21, 2012
Thank you! I am always troubled by the vast number of agents (not just on this forum, but all over) that are totally clueless as to the laws!
Flag Wed Nov 21, 2012
Here is a news article that was published last year in South Floirda's Sun Sentinal regarding real estate commissions... http://articles.sun-sentinel.com/2011-09-14/business/fl-real…
1 vote Thank Flag Link Mon Nov 19, 2012
if any agent here cares - you might want to read up on the Sherman Anti trust laws

The only acceptable and legal response to a commission question is.......ALL commissions are negotiable!
Plain and simple!

There is no such thing - LEGALLY - as a "typical, common, usual, expected, or customary" commission!!! There is no "gong rate"!

To state there is might be construed as an attempt at price fixing (even if the intent was not here) and the federal government doesn't take kindly to that.

Seriously - many of you need to brush up on the law before leaving your comments in an open forum on the internet!!!
1 vote Thank Flag Link Sun Nov 18, 2012
Commission MUST be negotiated between the seller and the agent, anyone discussing a specific rate may be violating U.S. law.

Okay, with that out of the way, can I just add that this can be a bit tricky. Maybe you find an agent who will sell it for 1% less than local norms. However, because that agent isn't going to make as much $$, he devotes less time, advertising money, and attention to your listing. Maybe it sells for 10% less than what you could have gotten with another Realtor. Don't be too naive, that really good deal may not be the bargain you imagine.
1 vote Thank Flag Link Fri Nov 16, 2012
It depends on the price, generally is 6% commission from the purchase price.. 3% for buyer's agent and 3% for listing agent.. I hope that helps answering your question.. Rosario Diaz casasouthbeach.com
1 vote Thank Flag Link Fri Nov 16, 2012
Every commission is negotiable but remember youi get what you pay for. With a lower commission, those realtors may not want to incur the risk of outlaying additional money and marketing your property. Also, commission is a marketing tool, an incentive to realtors to show it. So please keep these factors in mind when interviewing realtors. FYI. I provide a maximum exposure with a global marketing system that helps you get the highest price and quickest sale that the market will bear. This is a numbers game with showings and hits to your listing. Contact me and lets discuss my marketing system in more detail.
Paul Heller
Prudential Florida Realty
19056 N.E. 29th Avenue
Aventura, FL 33180
954-559-6411 cell
305-749-1583 work
305-932-6355 fax

If you are looking to buy or sell property, go to my website at http://www.SoFlaBeachHomes.com
0 votes Thank Flag Link Mon Dec 3, 2012
some of you need to learn to put a period after the word "negotiable", and then stop typing !!!

You state it's negotiable, then you nullify that by using the terms: "usual and standard"!!

That's what is inappropriate...don't you get it??..........any discussion of specific commissions - especially in an open forum - is simply wrong!

Look below for excerpts on articles regarding the anti trust laws......go to the Dept. of Justice website.......google Sherman anti trust laws..........call your local board of Realtors....or your state's RE commission........do somethig to educate yourselves on this topic!
0 votes Thank Flag Link Wed Nov 21, 2012
Negotiable!!! In Miami Beach, it is standard for the commission to be 2.5%, but it is all negotiable.
0 votes Thank Flag Link Wed Nov 21, 2012
2.5%? Co-op or listing agent? This makes no sense. Fewer agents would show the property at 2.5%
Flag Wed Nov 21, 2012
10% on a rental split between the listing agent and outside agent if their is one if so 5% and 5%, and 6% on a sale also split depending on if their is an outside broker or not then its 3% and 3%.
0 votes Thank Flag Link Sat Nov 17, 2012
The typical commission is 6%. 3% goes to the listing agent and 3% goes to the selling agent.
Please contact me if you are interested at listing your apartmemt fpor sale.
Despina Ikonomidou
Sales Associate-Top Producer
Cervera Real Estate, Inc.
C:305.785.5565
E. despinagre@gmail.com
http://www.southbeachdespina.com
facebook.com/southbeachdespina
0 votes Thank Flag Link Fri Nov 16, 2012
The typical commission on a traditional real estate transaction in South Florida is 6% of the contract price. This 6% is always paid by the seller and generally split between the listing agent and selling agent, unless the listing agent is representing both sides.

There are currently 11 active listings at 1000 West Ave, Miami Beach. Please let me know if you would like more details on these listings or would like to schedule a showing.

Regards,

Nicholas Robinson
Coldwell Banker
305-790-2012
nicholas.robinson@floridamoves.com
http://www.floridamoves.com/nicholas.robinson
0 votes Thank Flag Link Fri Nov 16, 2012
Correction... There are actually 13 active listings at 1000 West Ave, Miami Beach.
Flag Fri Nov 16, 2012
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