Ronald,
I think what they are trying to tell you is don't give up the job at the grocery store. real estate isn't the easy money it was just a year or two ago. besides, in a recession people will still need to go to the grocery store. think of it like job security.

Sounds like time for everyone to review their Sherman Anti-Trust courses.
___________________________________________________________

Or, The Trulia tearms of service.......if federal law wasn't strong enough for you! :)

Marie,

I believe you were told 6% - then.

But in todays market, you have agents that haven't had a closing in 6 months ... when the agent doesn't get a check either does the broker/manager.

Some have gone to 3% (2% listing, 1% buyer) and you have quite a few that have gone to a flat fee ... a $400,000 sale is a $8,500 flat fee sold in 45 days, 46 to 90 days $9,500 etc, etc ....

Many will and many are negotiating their commissions ...

Keep in mind .. the worst headache an agent can have - is a "broke headache" ..


;^)

It is negotiable but the standard is 3% each side and our office does not go below 2.5% on each side. If you want your house sold, you at least want to offer 2.5% to the buyers agent. Most realtors I know will be more likely to show when the commission is decent. cameron.fedderman@era.com

I am so confused. What do you mean the commission is negotiable? In buying and selling homes in the past, I have been told by several agents that they HAVE to charge 6% for homes and they aren't allowed to negotiate. Were they not telling me the truth?

Cris,

I just found the way you did it humorous .....


;^)

The simple answer is that it's negotiable. Do keep in mind that the old adage, "You get what you pay for", applies in most cases. there are many options when choosing a brokerage and agent. Just make sure you know what you are getting for the price.

Tman,

I hope that you aren't suggesting that it would be incorrect for one collegue to correct another if they were unaware that they had erred.

Ronald,

Don't you just love it when the agents catch each other in: " ... ooop's, did I say that ...?..."

... >>> Kelly - and any other Realtor who makes a statement like this last one: It is Against The Law to make a statement like that! Homes carry an X % commission rate; as does Land.

>>> X = what you negotiate. Per the Sherman Anti-Trust Act! Kelly - if I were you I would DELETE your answer ASAP! ...

: ^ )))




>>> "Homes carry a 6% commission rate and Land 10%. What most people don't understand is that the company the agent works for gets 50% of that, then it is split between the agents involved. For example, with a $5000.00 commission: the Listing company will get $2500 and then the agent will get 50 to 80% based on their plan. The Buying Agent's company gets the other $2500 and splits with their agent the same way."

(nothing new here boys and girls..)

Kelly,

Jim is absolutely correct. Delete your response.

Kelly - and any other Realtor who makes a statement like this last one: It is Against The Law to make a statement like that! Homes carry an X % commission rate; as does Land.

X = what you negotiate. Per the Sherman Anti-Trust Act! Kelly - if I were you I would DELETE your answer ASAP!

As for the "Split" This is negotiated between the Broker and the agent. Every agent has a different split. What folks dont realize is that AFTER that spilt - we have to pay Taxes, Federal, State, SELF-EMPLOYMENT, licencing fees, MLS and NAR and local Association Fees and Dues, Gas, our phone bill, oh yeah and our mortgage, food..... You get the idea.

Homes carry a 6% commission rate and Land 10%. What most people don't understand is that the company the agent works for gets 50% of that, then it is split between the agents involved. For example, with a $5000.00 commission: the Listing company will get $2500 and then the agent will get 50 to 80% based on their plan. The Buying Agent's company gets the other $2500 and splits with their agent the same way.

Ronald,

It depends on "where" in the south ...

Most agents will tell you 6 or 7% ... the reality is, it's slow and they're a lot of good agents out there that will do it for 2%, with the buyers agent getting 2% ... it's all negotiable - very negotiable.!

-

Interview 3 agents who are familiar with your area and ask them to outline their plans for marketing your home and getting it sold. Then compare each of the plans, the skills of the agent to negotiate the best deal for you when a contract comes in and then ask them what their commission rate is. Is cheaper always better or the best deal for you in the long run?