Your question as a Seller in today's market, is valid as Seller's are concernd about their walk away dollars.
The full service brokerage, such a Coldwell Banker, has very strong guidelines regarding commission for a few reasons. The most important is that a full service brokerage has invested in their brand and in the education of the agents to ensure that the client is "serviced" by a Realtor who is truly a subject matter expert on the contract, inspection reports, escrow, title and mortgage lending guidelines. The expertise in these areas can not be discounted as the process is not transparent to the end buyer nor to the Seller Realtors are not paper pushers, but rather professionals who guide the client through a very difficult and emotionals process. There must be over 100 touchpoints of a full service Realtor in one transaction.
Normally sellers are also buyers. I would recommnd the following in today's market. The sale of your home is not going to net you as much as it would have in 2005. However, your purchase power as a buyer is greater in 2007. I would suggest that you look at the total picture of selling and buyings and I am confident that your net gain is greater in 2010 than 2007.
The situation can also be reversed. Case in point, If you have a flat fee realtor who markets your house well but gets one value for their set commission that sets one level of value. But if a realtor who works off a standard commission can get an additional 3-5% more for the house they have made you additional funds over the value of the flat fee agent.
Now you can find a flat fee realtor who may get you more for your home as well, but you need to put their ability as the most valued portion then the fee.
Now if you are looking for a buyers agent I would say the same. There are several agents who are discounting fees to increase business but there service doesn't meet satisfactory standards. There are others who do so and take care of their clients in a phenomenal manner.
@listings offers full service representation - from a full, customized marketing campaign to meeting with stagers, inspectors, and handymen, negotiating the deal and stay by your side through the close of escrow.
@listings' hosts open homes, broker tours, and arranges showings for your home. Our marketing includes professional photography, professionally printed brochures, syndication to over 500 websites, emails to thousands of local agents, HTML designed craigslist ads, dedicated web page, postings to twitter and facebook, and more.
The difference is that we make the process as transparent as possible. We act as your partners throughout the whole process ensuring you get the most money possible for your home, work to negotiate the best terms and protect your interests, and save you money. I would be happy to send you some material that explains our services in more detail or you can send me an email/give me a call.
Yes, commission rates are negotiable.
There are many factors which enter into the final result on commission negotiations.
Marcie is correct. Should not be a public conversation.
Each situation is different.
I evaluate the situation and make a decision as to what rate I will accept based on what client wants.
What would you consider a reduced fee?
@listings offers full service for buyers and sellers. They do flat fee commissions for sellers and offer buyers 50% commission rebates. Visit their website or shoot me an email
Let's see...you want the best service, or at least good service, but you don't want to pay for it. Do you choose your doctors or your accountant like that? You are in the Home Selling category, so you should be looking at who can get you the most money, not who costs you the least.
The ONLY number that matters to you is how much do you get after closing. There are agents who charge a premium commission, but who consistently get the job done at a higher level for their clients. There are other agents who discount their "service", but who consistently sell the houses for less that they are worth. Look at the ratio of list price to sold price. Look in your neighborhood at who got the highest $$ per Square Foot on their sales. Look at Days on the Market.
Do you really want to entrust the sale of your house to someone whose first negotiating strategy is to drop the price? If that's how they deal with their own money, how much more will they do it with yours? Get a real Champion, pay them what they ask, and tell them what you expect. You'll be amazed at the difference.
Commissions are always negotiable. You should speak to several realtors and see what they are willing to offer you. Most (including myself) will not discuss the details on a public forum and could vary depending on what you need and how realistic you are about the price of your home.