"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
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!!!
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.
Prudential Florida Realty
19056 N.E. 29th Avenue
Aventura, FL 33180
If you are looking to buy or sell property, go to my website at http://www.SoFlaBeachHomes.com
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!
Please contact me if you are interested at listing your apartmemt fpor sale.
Sales Associate-Top Producer
Cervera Real Estate, Inc.
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.