Home Selling in 23884>Question Details

Ronald, Home Seller in 20011

How much commission does a agent usually get when selling a house? In the south.

Asked by Ronald, 20011 Sat Mar 15, 2008

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12
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.
4 votes Thank Flag Link Sat Mar 15, 2008
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?
Web Reference: http://cindyjoneshomes.com
2 votes Thank Flag Link Sat Mar 15, 2008
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.
1 vote Thank Flag Link Wed Mar 19, 2008
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.
1 vote Thank Flag Link Mon Mar 17, 2008
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..)
1 vote Thank Flag Link Sun Mar 16, 2008
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" ..


;^)
0 votes Thank Flag Link Tue Mar 18, 2008
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
0 votes Thank Flag Link Tue Mar 18, 2008
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?
0 votes Thank Flag Link Tue Mar 18, 2008
Cris,

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


;^)
0 votes Thank Flag Link Mon Mar 17, 2008
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.
0 votes Thank Flag Link Mon Mar 17, 2008
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.
0 votes Thank Flag Link Sat Mar 15, 2008
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.!

-
0 votes Thank Flag Link Sat Mar 15, 2008
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