Home Selling in 32258>Question Details

loranhill.it…, Home Buyer in Jacksonville, FL

Ok so I have had great luck renting out my home myself, may want to sell it in a year or so....what are the going rate realtor percentages?

Asked by loranhill.itworks, Jacksonville, FL Thu Jun 13, 2013

I have done very well renting out a home. First time go round was able to collect $150 more than monthly costs and second time around renters move in this month was able to collect $400 more per month than expenses on the home. (principal, interest, cdd fees, property tax) Wasnt an investment home but we had to move out of state. What are the going rates for commission for realtors......may want to sell in a year.
how much are closing costs typically for a seller?
how much are the fees to the agent and is that negotiable?

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Answers

7
Loran,
There should be no set or "standard" real estate commission anywhere, anytime.

That would be considered price fixing, and implies that brokers have agreed among themselves to charge a certain fee for their services. The (federal) Sherman Anti-Trust Act prohibits competitors from such behavior, since it could result in restraint of trade.

That being said, look for a Realtor who is an outstanding marketer, since their primary job is to get as much exposure as possible for your home. Interview several real estate agents who are Realtors, and pick the one who you believe can do the best job marketing your home, both to the public, and to other Realtors.

The brokerage fee (commission) is something you and your agent can decide upon together. But don't make your decision based solely or primarily on this item.

Good luck.
1 vote Thank Flag Link Thu Jun 13, 2013
Well, as your property is in Florida, first, I suggest you speak with a local realtor. All states are different and are governed by local laws.

Everything that transpires between you and your realtor is negotiable, but remember this, you get what you pay for. If you are looking for a discount realtor, you may just get discounted services as well. This is a huge undertaking and not all realtors are created equal. First there are realtors and there are real estate agents. Although both are governed by the state, a realtor takes the extra step to spend classroom time, join their local board association in order to market properties as well as agree to be ethical in their duties to all parties. A realtor is bound by these ethics and their ability to work depends on it.

Interview a few, look them up here, read their answers to various questions. If you are serious about selling your house, then I recommend making sure who you are willing to trust. I am available to discuss terms and opportunities if you have the time.

Rosina Eisenmann, REALTOR
904-482-8666
FAX 246-4873
Watson Realty Corp
RPAC Chair 2013
NEFAR - Beaches Council Chair 2012
Leadership Academy Graduate 2011

Be a blessing as you are blessed!
1 vote Thank Flag Link Thu Jun 13, 2013
Commissions are always negotiable between you and your agent, there are no set standards; therefore interview in person a few local agents from different realty companies, then choose the one you like best and who has the most to offer; choose your agent with care, and not by commission alone.
1 vote Thank Flag Link Thu Jun 13, 2013
Hi
There is not a set commission rate for Realtors. Closing cost depend on the sell price & negotiated closing items. There are typical closing items for the Seller & Buyer, but they are all negotiable at the time the contract is written. If you are not already working with a Realtor, feel free to contact me & we can talk more specifically about your personal Real Estate.
Thank you,
Brenda Waters, Realtor
904 707-7077
brendawaters@bellsouth.net
1 vote Thank Flag Link Thu Jun 13, 2013
Loranhill.itworks,
Much of this depends on the size of your transaction, the more expensive the home sometimes the commission can be reduced, but a good rule of thumb is 6% commission and 2% seller closing costs. Do your homework when it comes to hiring an agent, check out their online presence and reviews. As posts before have mentioned you get what you pay for and a good agent can easily make up the commission difference in how much more they can get you for your home. Good Luck :)
0 votes Thank Flag Link Thu Jun 13, 2013
Thank you for giving me an actual number or at least an average instead of a bunch of BS and sales pitches!
thank you
Flag Thu Jun 13, 2013
Loranhill,
Realtor comissions are typically 6%. 3% to the listing agent and 3% to the selling agent. While this is always negotiable, you also get what you pay for. If you are the lowest comission of the homes they have listed you will likely be the last on the priortiy list. Also - the best realtors will rarely ( never ) work for less.
Seller's closing costs are typically the deed stamp ( .7% of sales price ) the owners title policy ( $5/$1000 + $75 ) and the closing agents fees ( $400-$500 ). I can recomend some realtors I have worked with that I find highly professional and title agents/ closing attorneys if you would like.
Feel free to contact me directly with any further questions.
Keven M. Brennan
kevenbrennan1@comcast.net
0 votes Thank Flag Link Thu Jun 13, 2013
The going rate for agents is 6% in this area since it sounds like you have never sold a home before. Closing costs are negotiable but are usually a few thousand, it just depends on the size of the transaction. The fees for an agent are not very negotiable, feel free to shop around and just find a good agent. You won't want one that will work cheap because then you will get cheap service! its like anything else in this world, you get what you pay for.
0 votes Thank Flag Link Thu Jun 13, 2013
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