Home Selling in San Bruno>Question Details

Barry Kent, Home Buyer in San Francisco, CA

Need help selling a home in San Bruno. What are comissions like for Agents. My home is worth about 480K. looking to only pay 10K is that reasonable

Asked by Barry Kent, San Francisco, CA Sun Feb 6, 2011

Help the community by answering this question:

Answers

9
Commissions are always negotiable. You can always report the agents answering on here who should know that '5-6%' is NOT the'going rate' ...and could be considered colluding to fix commission rates.

Redfin will list your home for about 1% plus a competitive % for a buyers agent (2.5-3%)...you might to check there.

Also, Realtors who state "A flat fee such as you are offering will be very difficult to entice a buyer's agent as they may choose other homes to show' should know they are in clear violation of the Realtor's code of ethics, which states a Realtor is obligated to cooperate with other Realtors when it is in the best interest of the client.
0 votes Thank Flag Link Wed Mar 2, 2011
5-6% of the purchase price is the going rate! All the answers here are correct! I also live and work in San Bruno. I currently have a house for sale at 465 Cypress Ave. that's listed at $499,000! Maybe we are close to yours!

Karin Cunningham
Prudential California Realty
650-438-3504
0 votes Thank Flag Link Mon Feb 7, 2011
Barry,

I think you need to understand how the commission split works. The listing agent gets paid one amount, and the buying agent gets paid another amount. Usually they are the same, but they don't have to be. Typical commissions from any full service company are going to be 2.5% - 3% for each side - 5-6% total - although all commissions are negotiable.

However, you need to understand that most likely your listing agent is NOT going to bring in the buyer, which means whatever you offer the buyer's agent is their inducement to bring in their clients. If you are talking about paying each side approximately 1%, you are unlikely to get the service level you want from the listing agent or the interest level you want from buyer's agents. In my opinion this does not serve your interests at all.

There are companies (like ours) who provide all the services anyone could expect from a full service company and charge less than the typical 5-6%, but you still have to deal with the buyer's agent commission issue. Unless you are prepared to do a lot of the work yourself, which risks both liability issues and lower sale price due to lack of professional marketing program, you're likely going to have to be prepared to pay more money than that to sell your home for top value.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Mon Feb 7, 2011
Barry,

I understand that as a seller you are very much concern about the commision you will pay especially that seller is alway have to pay for both side (listing and selling). Commission is always negotiable, but if you want the best service , good marketing, weekend open house and most especially quick sell it is worth paying a good commission but again everything is negotiable.

Which part of San Bruno is your property (Crestmoor, Bel air, Lomita, Huntington, SB Park, etc... in other words East or West?

Let me know if you need help in pricing your home at "NO COST" to you so you will know more or less how much you have to put your property in the market either through broker ( MLS) or for sale by owner.

I hope this helps a little bit.

Crist y Weglinski
Avant Properties
415-987-3784
cristyweg@comcast.net
http://www.cristinaweglinski.com
0 votes Thank Flag Link Sun Feb 6, 2011
Commissions are negotiable and also play a huge part in the marketing. A flat fee such as you are offering will be very difficult to entice a buyer's agent as they may choose other homes to show. Also, if that agent has a buyer/broker agreement then the buyer is going to have to make up the difference between what the buyer's agent receives and the negotiated fee to the buyer's agent. The buyer will most likely negotiate the difference or go to the next house.

I suggest always putting my seller in the strongest control by removing as many objections early on; this includes
Pricing the home competitively
Offering a competitive commission to a buyer's agent
Paying a fair commission to the listing agent
Getting all your inspections up front
Prepare your home for showing.

Interview agents, a good agent should be worth what you pay them, by getting your home sold quickly, with as few repairs as possible, meeting your terms and conditions, closing on time, for the highest possible price for today's market. Focus on your bottom line and future goal.

If you don't have the funds from the sale of your current home to meet your objective in selling, you can try limited brokerage, make sure you understand all your obligations as a seller, what the contract means to you - it could be very costly if something isn't done properly. Also, when a buyer knows that it is for sale by owner (such as those limited brokerages) they tend to expect your savings to be passed down to them.

Best of luck to you.
Web Reference: http://terrivellios.com
0 votes Thank Flag Link Sun Feb 6, 2011
Barry

I don't believe any full-time professional agent would take a listing at 2%.
At 2%, your agent would get 1% and the buyers agent would get 1%.
Trust me, any agent with a buyer would much rather show houses that offer a 2.5% to 3% brokerage to buyer agent.
You can find a discount no service broker who will list your property on mls for $295 - $495 but then what are you going to pay buyers' agent?

Commsions are not fixed - right now, listings are typically taken at 5% to 6% - the higher the value the lower commission rate would typically be available.

You could of course always try to sell it yourself.

Good luck!

Arn
0 votes Thank Flag Link Sun Feb 6, 2011
Probably not, but like the others said, you can try. What part of San Bruno is your home located? East or West of El Camino, Rollingwood, El Crystal, Huntington Park? Depending on the size and the condition, your home could be worth more, or less.

I'll take a look at it and give you my opinion if you like. No obligation whatsoever. I've sold dozens of homes in San Bruno.

Tap
0 votes Thank Flag Link Sun Feb 6, 2011
Hi Barry: You can always negotiate with the listing agent of your choice regarding commission. Although, I do think that Buyer's agent should take buyer's interest as priority. Unfortunately, some buyer's agent may show other properties that pay more commission than the ones that don't pay as much. Reality is, you get what you pay for. I am sure there will be some agents who would be willing to take your listing. You should strategize with your agent the best way to gain most exposure for your property and you might have to do some marketing yourself as well. I hope you'll find an agent who is willing to take your listing! Good luck!
0 votes Thank Flag Link Sun Feb 6, 2011
Commissions are always negotiable between you and your agent, there are no set standards as it would go against Federal Laws...therefore, consider interviewing in person a few agents, or as many as needed, from different realty companies, then choose the one you like best and who has the most to offer--choose your agent with care...
0 votes Thank Flag Link Sun Feb 6, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer