Most agents charge 4-6%, but 5% is decent commission charge. Also some times going for cheaper 1's could not get justice for the job required to be done.

Nicole,

You can find agents that will negotiate their commission and work for less than the standard "fee for professional services." BUT......it will be very important to evaluate the scope of services that will be provided as well as the degree of professionalism the individual brings to the table.

Cheaper doesn't necessarily mean BETTER. In real estate you will be quickly reminded of the old saying, "you get what you pay for."

The concensus is that you should interview several prospective agents......Keith, has hit the nail on the head by pointing out these interviewees should be "top agents."

Good luck

With all due respect Lisa, listing with a flat fee mls broker does not mean you are listing with an "unqualified" one. Most flat fee brokers have been in this business for many years and have been through all the "full service" transactions and have plenty of experience. Most agents will confess to their peers that they rely solely on the MLS to sell the house, but they won't tell the public.

Nicole, I made the switch to a "Flat Fee" business model because I feel it serves sellers better than the traditional % model, which is completely broken. Don't let anyone fool you into thinking you "need" to pay 6% to sell. Most flat fee brokers offer superior internet exposure compared with many "traditional" agents. We spend lots of money to advertise our listings online, and to deliver buyer leads direct to sellers. That serves them better, saving them money, helping to sell faster.

You do get what you pay for... I agree, but you don't need to pay 6% or even 5% to sell. Find a flat fee broker that showcases homes on realtor.com, and delivers leads to sellers. Keep your price below your competition and expose your home online. Hire an experienced attorney and don't waste money on print ads. You'll be fine.

We are now in 2009... Wake up people and agents!

Hi Nicole-
While it is true that there is no industry standard, please let me remind you that "you get what you pay for"~

In a time when it is not as simple as just sticking a sign in the yard to sell a home. You need a qualified agent, that has systems and processes in place, with a proven track record, and a SUCCESSFUL marketing plan. Ask to see these items. Make sure that the agent that you choose treats this as a business not a hobby.

We not only market our own listings, but our entire offices listings and we market them Nationwide. We reciprocate with other agents in other areas of the country and help bring buyers to their listings as well. This is what you're looking for.

And while it is true that you will only save approximately 1-2% if you choose the cheapest or the agent that is willing to lower their price. That may also mean that they are willing to reduce your profit to get the home sold.

Also, the MLS is not a cure all. So, by just sticking your home in the MLS, will not sell your home either. It's like sticking a sign in the yard. THAT alone doesn't work.

So, please interview until you feel comfortable that the agent that you want to sell your home, is in fact the agent who will work the hardest to get the home to close.

I have some questions that I offer to Sellers to qualify the agent that they choose, please feel free to contact me directly if you would like a copy of it.

But, what ever you decide to do, please don't waste a year with an unqualified agent.

I would interview 3 agents, and pick the on you like, whose marketing plan shows they will work the hardest to sell your home. And then pay whatever commission they are asking. You're not going to save more than 1 or 2 percent by going with the cheapest. If all the fees were equal, and you'd pick a particular agent, pick the same agent if their fee is a little more. Don't be pennywise and pound foolish. I've come across too many sellers like yourself, who focus only on the commssion, and none of them have to worry about their realtor making more than them, because usually neither makes anything--the house doesn't sell. I guarantee that the agent who drops their drawers regarding the fee also agrees to list your house for a higher number than the other agents think it should be listed.

Commissions are always negotiable. But make sure you are getting the most bang for your buck and acheive your objective. The bottom line is you want to sell your home. That is why you put your house on the market. And you won't make a dime if the house doesn't sell, right? The important thing is to get great marketing exposure and get that house sold!!!

Nicole
You should interview a couple of top Realtors before determing what "fair commisison" is in your situation.

I find that sellers focus on the commission because they are unaware of the many other aspects of a transaction that can affect their net profit. A great Realtor will help you understand where and how money can be lost in a transaction. Their goal is to get you the most NET in your pocket at the close of escrow.

I would be happy to refer you to a top Realtor in your area that you can talk with and answer your questions.

Nicole,
Commission is negotiable, there is no standard. Ask the agents you interview how low they can go. But remember out of that commission the buyers agent gets paid, as well as both agent's companies, and then the IRS. So your REALTOR probably isn't taking home as much as it appears. The most important thing is the sale price of your home, so you don't want to tie your agents hands by limiting the budget too much, and in turn get less for your house. The old phrase "You get what you pay for" really applys here, so be careful not to make your choice based only on payment.

Best regards,
Louann

If you don't want to pay that amount, there are many choices. You can use a flat fee broker, a discount full service broker, or find a traditional broker that will sell it for less.