Home Selling in Dallas>Question Details

LosAngeles, Home Buyer in 91746

Is the 6% commission std in Dallas, or are realtors willing to negotiate?

Asked by LosAngeles, 91746 Tue Oct 23, 2007

I'm buying and selling multiple properties each year, so I"m hoping to be able to secure a better deal based upon my volume of transactions.

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16
John Prell,

Your Bio, says you have 30 years experience as a Hard Money lender, and Realtor.

Your website says
http://www.creekviewrealty.com/

8 great reasons to list with us

Number 7 "We refer buyer calls (buyers without agents) directly to you instead of trying to show the house ourselves to make the extra 3% buyer's agent commission."

WHEN PIGS FLY......JOHN

Number 8 "We set up your MLS listing in a way that Realtors won't know if it's a "For Sale By Owner".

Oh really John...... I guess you are being honest, by admitting deception

Well John your Website says it well

"Another problem is that over half of all agents are not very competent (we hate to denigrate the profession, but we are being lenient). Unlike CPAs, doctors or lawyers, there is no college degree required to be a real estate agent. Any high school dropout can become a Realtor if he takes a few easy courses and passes the licensing exam. Incompetent agents lead to problems, wasted time and transactions that never close."

And it Shows.
4 votes Thank Flag Link Wed Oct 31, 2007
Mr.P, Other/Just Looking in Arizona
MVP'08
Here is a great example of your Discounted " Sucker Train" Brokerage
http://www.trulia.com/voices/General_Area/Foxtons_the_discou…
1 vote Thank Flag Link Thu Nov 1, 2007
Mr.P, Other/Just Looking in Arizona
MVP'08
There is no "standard commission" in any market. Talk to two or three agents and go with the one you are most comfortable with. Tell them you will be doing multiple deals and see what they offer. Remember the cheapest isn't always the best. Service, knowledge, marketing and negotiating ability are key to a successful transaction.
1 vote Thank Flag Link Tue Oct 23, 2007
Yameen,
All commissions are negotiable, there is no "standard", it is against Federal law.. (Anti-trust)
FYI a higher commision will often get your home sold faster as it makes it "stand out from the pack" , which may also lead to a bidding war....
1 vote Thank Flag Link Tue Oct 23, 2007
Just visit my web site at http://www.aatrealty.com/

I have the Most Advanced Real Estate Search Platform

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Through our innovative Lifestyle Search System, users can visually see the relational perspective between all things important in their real estate decision making process. Looking for a home within a quarter mile of a high school, a half mile of a coffee shop, and 2 miles from a grocery store? AATRealty can find you those homes.
0 votes Thank Flag Link Mon May 6, 2013
There are some agents who do a Dallas seller flat fee for approx. $795 where your property is listed in Dallas MLS search listings, this can save you $1000's in some instances realtors can still hold open houses. You will follow under these realtors E & O insurance.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Thu Jan 31, 2008
This has been a very heated discussion in many different arenas. Yes, most agents will discount a little of their commission to the seller who is also going to buy a home through the same agent. Most agents will not give any type of discount if you are just selling though. You can look at it this way. If your boss came to you and said he wanted to cut your salary by 1/3 would you still work for him? If you did stay how hard would you work? You may take a longer lunch, or maybe come in late or leave early. Asking an Agent to cut their rate will cost you more in the long run than you would save by having that discounted rate.
Listing a house is not free, Agents spend thousands of dollars every year if not every month in business expenses.

You can break it down like this
A large percentage goes to the broker or listing office. Taxes run on average 20% after all deductions. The average listing of $100,000 to $500,000 cost about $1,500 to $2,000 to list. That includes advertising, MLS, signs, key boxes, appointment scheduling services, printing, computers, car payment, gas, insurance, etc. It is way more expensive to be a Realtor now than it was 15 years ago.

Look at it this way, If that Agent listing your house is going to give up his commission that easily, don't you think he is going to be just as fast to give up your money?

I could go on for hours on this subject but i will just leave you with this, and I know you have heard this a thousand times from your parents, friends and anybody with an opinion.

YOU GET WHAT YOU PAY FOR.
Web Reference: http://www.kylegowdy.com
0 votes Thank Flag Link Sun Nov 18, 2007
Yes. A lot depends upon if you are using the same agent for buying as well as listing your properties. Also discount listing are less viable on higher end properties that require more effort and expense to sell. Try calling Tim Lansford with The Lansford Group and Luxury Homes of Texas. 972-390-8681 He handles all of my REO listings and my purchase
0 votes Thank Flag Link Sat Nov 10, 2007
Go to our website below...I sell homes for 4.5% and also rebate 1% of the sales price at closing on new homes. We also educate the buyer on using the rebate or yield spread on the mortgage to help with the closing cost. Call me if I can help.
0 votes Thank Flag Link Thu Nov 1, 2007
Commissions are not set or fixed and therefore are negotiable.

If you have multiple properties you wish to buy or sell, I am confident you will be able to find a full service brokerage willing and happy to assist you at a negotiated rate.
0 votes Thank Flag Link Thu Nov 1, 2007
Just to clarify Yameen - While the 6% commission rate is negotiable, the buyer's agent will still expect to receive the "standard" 3% commission for bringing a buyer to the home. These are the terms of almost all listing agreements. If the listing agreement states that anything less than 3% will go to the buyer's agent, a buyer's agent may pass up the opportunity to show the home in favor of showing one that guarantees a 3% commission.

A high percentage of our clients sell their homes without paying any commission at all, because we refer all buyer calls directly to the seller. The math speaks for itself. On a $500,000 home, a flat fee of $495 to list on the MLS through Creekview Realty would result in considerable savings.
0 votes Thank Flag Link Thu Nov 1, 2007
Hi Yameen - Did you know that you can sell a home and save $$$ on commission fees by working with a non-traditional real estate broker? Many people are not aware that you can list on the MLS for a flat fee and avoid paying commission fees altogether.

This listing strategy gives you the savings of FSBO but with all of the benefits of working with a traditional realtor. As a buyer, you can actually make money when you buy a home, in the form on commission rebates.

Since you are buying and selling multiple properties every year, you could save thousands of dollars with each transaction.

Check out http://www.creekviewrealty.com and let me know how I can help.
0 votes Thank Flag Link Wed Oct 31, 2007
Yameen,

You have an excellent question. There are no set commissions and there are some agents/brokers that can negotiate a better deal, but you should be aware that some of the best charge more than 6%. It really will depend on the amount of work you require them to do and the price range you are working. You should be wary of the people who answer quickly without probing deeper. Are you buying 10-$30,000 condos or 4-$1,000,000 apt complexes? Are you going to do all the due diligence or do you expect the agent to do it? Will you located the properties you want to purchase or do you expect the agent to do it? Will you inspect the properties first or bid first? What percentage of the deals you bid on do you expect to close? If the agent is not asking you questions along these lines then they are not worth any discount they might offer you. You may save money on a deal or two, but at some point you will likely pay big for their lack of expertise.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Wed Oct 24, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Find an agent willing to negotiate. The law prohibits fixed commissions, instead it is based on what the agents charges not a set amount.
We deal with investors and yes we definitely negotiate commission based on volume of transactions. I feel certain if you interview agents who know how to deal with investors you'll find one to meet your needs that is a win win for both parties.
If you need a reference in the Dallas area let me know. I lived there for over 30 years.
-Susan Walker
0 votes Thank Flag Link Tue Oct 23, 2007
There is no standard commission. All commissions are negotiable. It will be up to the agent /broker that you choose to work with as to what that would be.
Web Reference: http://www.northropteam.com
0 votes Thank Flag Link Tue Oct 23, 2007
Yameen,

I dont believe we are able to discuss Realtors commissions on this forum. If you would like to contact me directly we can discuss this question. Thanks 214-908-5080 Cell
0 votes Thank Flag Link Tue Oct 23, 2007
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