Brenda Alarcon 707-953-3444
Bradley Real Estate
There is NO "normal", "customary", "usual" or "standard" commission, and agents should not state or imply there is.
Agents who are foolhardy enough to discuss this in open forums may leave themselves open to anti trust law issues, as it may be seen as an attempt to fix prices.
Speak with and interview a few agents to see what percentage they charge, and what they will do for you....ask for a written marketing plan.
There are also companies who may offer an a la carte menu of services as their business model.
Do you due dilligence, and focus on the big picture, not just the commission fee.
Ask them what they expect. Commissions are negotiable and a good agent is worth more than whatever you pay them and a bad one will cost you way more than just the commission. This subject should not be difficult for your agent to address, its part of our job. Their office may have a policy regarding this and each company can act as they feel best suits their market. Just ask.
Although there are often "customary percentages" in particular areas - in San Francisco it is typically 2.5% for the buyer rep and 2.5% for the seller rep - commissions are negotiable.
The seller sets the amount for both the listing agent and the selling (buyer's) agent, and they are not always the same. The reason I mention customary percentages is because if you are offering less than that many selling agents will not bring in buyers if they are making less money. If you offer the same thing other agencies do you will be on an even playing field in that regard.
With regards to your listing agent, you should pay them enough to be incentivized to work hard for you, but make sure you are getting the best because it makes a huge difference who you hire. Properly preparing a property for listing and marketing is a lot of work, and when someone is good at it it will pay off in the end.
You can talk to a local title company if you want a completely unbiased opinion about what percentages are normally being paid out, or ask several realtors.
Lance King/Owner-Managing Broker
LUXURY HOMES DIVISION
Realty ONE Group, Inc
Good luck on your sale!
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