Home Selling in Prescott>Question Details

Nolostress, Home Buyer in Prescott, AZ

Real estate commissions percentage in Prescott

Asked by Nolostress, Prescott, AZ Mon May 28, 2012

Help the community by answering this question:

Answers

8
Commissions are actually "Brokerage Fees" and are usually set by the brokerage in their operations procedural manual. The brokerage fees are usually paid by the seller of the property for a successful transaction. These brokers fees are usually split with two brokerages (buyers broker and sellers broker). The brokers fee is then shared proportionally by the company and the procuring agent based upon a "Commission Agreement". Broker fees are not set by law and can vary by brokerage.
2 votes Thank Flag Link Mon May 28, 2012
Hello,

Just to further expand on some great answers; Realtors work for their client(s). A good agent will do what it takes to sell the house, and sell it for the most money. Usually there's a starting place based on what you would like/need to sell the home for in regards to dollars. Along the way, this may change in price fluctuations and/or an agent adjusting their commission agreement. Good communication with your agent is primary. Feeling good and secure that the Realtor is on your side and not their own is a must.
1 vote Thank Flag Link Sun Apr 19, 2015
To expand on Brad's Answer: Shopping Commissions is like shopping for anything else. You want to look for the value! A good, full service agent, will most likely bring you the most walk away money from your sale. There is so much that goes into preparing a home for sale, putting it on the market, marketing the property and negotiating offers. Then, completion of the escrow is a daily effort. You will want to look for an agent that offers this level of service, or value, for the commissions charged.

Look for an agent that has a full marketing plan and a record of success that can show you the value behind the commissions that they are asking for.
Web Reference: http://www.ProsperAZ.com
0 votes Thank Flag Link Sun Jun 3, 2012
Great question,
Nothing makes a Realtor squirm more than this question.
Barbara, is right Commission, Compensation, or Brokerage fee all the same term for " how we get paid" and it is sometimes shared based on the client (your) instructions to other brokers as an incentive to bring a ready able buyer.

Brokers are not allowed by law to give you a standard or "normal" cost of this compensation.
Mostly because office have different models.
Some will charge a flat rate or $$ amount
Some will negotiate based on just a % of the sale
Some might do both.
All will require some compensation for work, otherwise they would be out of Business.
And like anyone else you would hire you should know what you are getting for your $$ or %,
seems fair right.

Anyone that gives your "well this is standard" doesn't know the law.
If you are planning on interviewing Agent's and Brokers, you owe it to yourself to call me to see what I do to get homes sold and what our brokerage can do to make sure you get the most for your home.
928-237-4400
You are asking the right questions keep it up I am sure you will hire the Right Broker/agent.
0 votes Thank Flag Link Wed May 30, 2012
simple answer, commissions are negotiable, do not just ask for the % but also what the various services include. Remember that with everything else you Get what you pay for....

Good Luck to you...
EdithSellsHomes@gmail.com
YourRealtor4Life! Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike. Covering for @Properties the city of Chicago, all N and NW suburbs of N. Illinois and the fine Homes of the Northshore.
@Properties NorthShore 30 GreenBay Rd. Winnetka Illinois 60093
0 votes Thank Flag Link Mon May 28, 2012
The commission on residential sales is generally speaking 6 % split between the buyer and sellers agent. Commercial real estate is another matter.

Sam
0 votes Thank Flag Link Mon May 28, 2012
Real estate commissions can vary. Stating commissions are "set" or "always" a specific percentage is not true. If you are considering selling real property and commissions are important to you, you should speak with more then one real estate agent from more then one company. I am a real estate agent with Keller Williams Check Realty and would be happy to meet with you and talk about your specific needs regarding commissions. Blessings and make it a great day! Cindi LaSalle-Shanks 533-1012. Thank you.
0 votes Thank Flag Link Mon May 28, 2012
Hello Nolostress: As a point of law, each real estate office sets their own rates. Generally you will see anywhere from 5% to 6% commissions on residential real estate. Hope this helps? Thanks for asking.
0 votes Thank Flag Link Mon May 28, 2012
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