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Wilmington N…, Home Seller in 28403

What is the average real estate agent sales comission in WIlmington NC?

Asked by Wilmington Ncseller, 28403 Mon Aug 9, 2010

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9
Average is between 5 and 6%.
1 vote Thank Flag Link Sat Aug 14, 2010
The commission is negotiable, you should interview several agents and get a feel for who will provide you with the best opportunity to achieve your financial golas.
1 vote Thank Flag Link Mon Aug 9, 2010
Thank you Charles - finally a real answer to the question!
0 votes Thank Flag Link Tue Aug 17, 2010
There is no "average", that would be deemed as price fixing and is illegal. Most people think that the entire commission is paid to the agent, but it is typically paid to the firm the listing agent works with and the firm pays the agents involved along with administrative overhead.
Hope that helps,
el
Web Reference: http://elbrant.net
0 votes Thank Flag Link Mon Aug 9, 2010
All commissions are negotiable between you and your agent--there are no set standards--interview a few different agents and choose the one you like best and the one with the most to offer--choose your agent with care.
0 votes Thank Flag Link Mon Aug 9, 2010
Good answers below that probably answer your question. But let me put a different spin on it:

It only matters what the "average real estate agent sales commission" is if all you're interested in is an "average real estate agent."

Is that all you want? Someone average?

No? I didn't think so.

Interview at least 3 agents. Find one who you think will do an above-average job for you. Someone who'll communicate with you. Who'll provide you advice on pricing. On negotiation. Who'll properly market your home.

Discuss commission with all of them. Once you've selected the one you want to work with, then weigh his/her commission. It may be the same as the "average" commission or the same as the commissions from the "average" agents. If not, and you want to, then negotiate.

But don't worry, at this point, about averages. Go for the best.

Hope taht helps.
0 votes Thank Flag Link Mon Aug 9, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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What many home owners don't realize is that the commision you pay out when you sell your home is split many ways. For a $200K home, a 6% commission will net each agent $6000.00 if there are two agents involved. My firm takes 36% of that leaving the agent with $3840. After the government takes their share, that total goes down to roughly $2688.00. Many times there is a third agent involved and a 25% referral fee would be paid out as well. A good agent is goignt o spend around 10-15% on marketing your property bringing the total without a referral fee down to $2284.00. Agents/Brokers have all kinds of fees to pay every month just to be in business so as you can see, we do not "make a killing" selling homes.
I love what I do and I enjoy working with clients so it's worth it for me! They say if you love what you do, you never have to work, right?
0 votes Thank Flag Link Mon Aug 9, 2010
That is correct, the commission is always negotiable, and most agents will tell you that 6% total is the custom, but there are some things to consider. How much in marketing dollars is your listing agent going to be spending on your property? You can't expect a professional to spend good money getting a home sold for you, only to take a commission cut and barely break even. 2) How much business have you done in the past, and will you do business again in the future? This may have an effect on how much your agent is willing to work with you, if he knows that you have been or will be a source of recurring revenue for his business. and 3) Ultimately the commission that's offered on your home will have to be split with the all important selling agent.

Sometimes we see sellers that expect an agent to hardly break even or worse yet not make any money on selling a listing, because they don't understand how much is being spent on marketing their property.

You always get what you pay for. ALWAYS. There are so many local nuances that are unique to each and every local community that you have to be actively working in the market to guide home buyers and sellers. If your agent has an effective formula in place that really works, it will take 1-2%(except maybe higher priced properties that will sit out there longer anyway) to effectively market and sell the property. Now, unless they're planning on being a volunteer and working for free, you have to have 3% on the listing side to make anything or you won't be in business very long.

And if there are similar properties out there when that buyer's agent is looking through the MLS that offer 3% to them instead of say 2.5%, sometimes the lower commissioned property won't get shown. It's just a fact.

Discount brokerages and listing agents only taking 2% will not spend the money and effort on your listing that someone with 3% on the listing side will. It's just that simple. It's not enough to just put it in your MLS and hope that another agent in your area sells it for you. And that's what the majority of discount agents are doing. But it's not doing the right thing by their clients. You ALWAYS get what you pay for.

What you've got to ask yourself is..."In this market, where properties are sitting on the market longer, and buyers are a little wishy washy about committing and signing on the dotted line, do you want to have your property listed with someone that's going to spend more money on marketing or less?"
0 votes Thank Flag Link Mon Aug 9, 2010
Sales commissions are negotiable; typically you will see them between 5 %and 6% where that total is split between the agent for the buyer and the agent for the seller. But nothing is set; it is all negotiable.
0 votes Thank Flag Link Mon Aug 9, 2010
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