Home Selling in Ketchum>Question Details

Michael.mahre, Home Buyer in

What is the current broker commission?

Asked by Michael.mahre, Tue Jan 22, 2013

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The answers listed below are correct. In an effort to answer your question, the most common commission structure I've seen in our market is when the seller pays 3% of the purchase price to the broker representing the buyer, and 3% to the broker representing themselves on the selling end. As stated before, commissions can be structured in a variety of manners and the numbers can vary.
0 votes Thank Flag Link Mon Jan 28, 2013
Michael,

This is a touchy question and the answer you've you received from Alan is correct.

There is no fixed, standard, customary...commission rate or fees. Any broker/agent stating otherwise is in violation of the law.

It is up to the individual brokerage/agent to specify any commission or fees a seller or buyer, if subject to a representation agreement, exclusive or nonexclusive, shall be responsible for.

In both cases all parties must agree, in writing, to all fees or commissions.
0 votes Thank Flag Link Tue Jan 22, 2013
I understand. I should have asked what is current "market" for brokerage commissions?
Flag Tue Jan 22, 2013
There is no current, standard, typical, average, normal or regular commission that any agent (in Ketchum, or elsewhere) can quote you.

Commissions, by law, cannot be fixed. Each agent, and agency has their own commission structure based on the services and costs for those services that they provide.
0 votes Thank Flag Link Tue Jan 22, 2013
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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