Home Selling in Gansevoort>Question Details

Brion Crum, Real Estate Pro in 85259

What is a standard commission rate and split in this area? Is it a 6% that is negotiable and 3% goes to the buyers agent?

Asked by Brion Crum, 85259 Thu Mar 29, 2012

Help the community by answering this question:

Answers

7
Commissions are always negotiable between you and your agent, there are no set standards as it would go against Federal Laws. If two agents are involved in the transaction the fee is shared. Therefore if looking to sell, contact and interview in person a few local agents from different realty offices; choose the agent you loke best and who has the most to offer; choose your agent with care, and not by commission alone.
1 vote Thank Flag Link Thu Mar 29, 2012
Brion,
For your information, realtors are prohibited from discussing commissions it is in violation of NYS licensing law.

If you are interested in selling your home, please call me at 518-307-1985. I am a life-long resident of your area and have been a realtor for over 20 years. I look forward to speaking with you.

Teryl
0 votes Thank Flag Link Mon Apr 30, 2012
Good morning, Brion ~

As Anna and Jim already made very valid comments regarding discussions of commission and splits, I won't reiterate those items this morning. It's just not a topic for public forum.

Instead, I would like to add that I am a Saratoga county resident and proactive, full time Realtor with Keller Williams. I also lived specifically in the Gansevoort/Wilton area for nearly 10 years.

If you are interested in arranging a meeting with me to discuss selling your home, what to expect for your commission dollars, as well as all that goes along with employing a full service brokerage vs discount broker, I'd be happy to set a day and time with you so we can get better acquainted.

Our local market is really energized quite early this spring due to lack of snow this winter. Let's capitalize on that momentum and together we will evaluate your needs, your home's accurate value in today's market, define the marketing plan I provide my clients (each agent is quite different in that respect), discuss the ever popular commission questions and, ultimately, get your home sold.

Thank you for your consideration and I look forward to your call.

Regards,
Jennifer Herbs
Keller Williams Realty
JHerbs@nycap.rr.com
Cell: 518-505-4802
JenniferHerbs.com
0 votes Thank Flag Link Fri Mar 30, 2012
Hi Brion,

Common question for a seller to ask. The real underlying concern is usually what you net at the closing, not what you pay to get the net.

Sometimes a seller just wants to be able to brag to his buddies that he beat an agent up and got the cheapest listing commission. If the amount you net is more important, then often times you discover that going the cheap route doesn't make the most sense.

What services are you getting? What marketing program is being laid out? Does it seem like it will get the job done?

We can't discuss commissions in a public forum, by law.

Regarding the split between agents: it doesn't have to be evenly split. So a co-broke of X does not mean for sure that the total is 2X.
Listing agent may keep more on that side to offset marketing costs, or offer the larger part to help entice another agent to sell it, even if he has negotiated a reduced fee and doesn't have as much to work with. (Also can't afford to do as much in that case, but everyone has to make their own choices as to what is best)

All the Best,

Jim Sweat, ABR, CRS, GRI, CDPE, e-PRO, ILHM
Realtor
Sandals Realty
http://www.ExplainShortSales.com
941-306-7384
Team@JimSweat.com
0 votes Thank Flag Link Thu Mar 29, 2012
Thank you anna. That explains the lack of responses. I am glad all the realtors are aware of the legal requirements!
0 votes Thank Flag Link Thu Mar 29, 2012
Brion, unfortunately real estate professionals are forbidden from any public discussions regarding commissions as they would be in violation of Federal Laws, in particular Anti Trust Acts/price fixing, etc.; hefty penalties, possible jail time and loss of license may apply; therefore have a discussion with individual agents as you interview them in person. See link below regarding Anti Trust and the consumer.
http://www.justice.gov/atr/about/antitrust-laws.html
0 votes Thank Flag Link Thu Mar 29, 2012
Anna, thank you for your thorough response. I am hoping that agents in the Saratoga area will give me specific examples of what they are observing in practice. Is 3% a common co-broke?
0 votes Thank Flag Link Thu Mar 29, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer