Home Selling in 60137>Question Details

Erin, Home Seller in 60137

What is the current realtor's commission rate?

Asked by Erin, 60137 Mon Apr 21, 2008

Help the community by answering this question:

Answers

19
Erin,

**..then you should consider the other side of negications when it comes to an offer on your home will they be strong enought to hold the ground on price..** .l.o.l..

Thats a poor analogy .. discounted rates might also mean they're in competition with 150 other realtors in their immediate area, and another 200 agents looking for a job...

Let's not get carried away .. feeding their family and paying their bills can make for one large priority in any agents life - and at the same time doing twice the job.... look around ..


: ^)
1 vote Thank Flag Link Tue Apr 22, 2008
Erin,

There is no current rate ... it's all very negotiable..

Some might try starting out at 6%, some offices "might" try starting out at 5.5% ... you're going to be interviewing 4 or 5 agents anyway, see what their fee is - and tell them what you'll pay.

It's been a long and cold winter for most realtors with very few escrows and even less closings, so how they split the money has nothing to do with you .. some are doing 3 to 4% and some are doing flat fee's - so shop.

Brokers are much like car dealers .. the dealer down the street might want $20,000 .. but 4 calls and 12 miles later you found the same car with the same options for $18,000 ... so shop.


; ^)
1 vote Thank Flag Link Mon Apr 21, 2008
All commissions are negiotable between the property owner and the broker. Some brokers charge a fee for services, some a flat fee and other a percentage of the final sale price. Take into consideration that in a MLS situation, the listing broker and buyer's broker normally split the commission 50/50.
1 vote Thank Flag Link Mon Apr 21, 2008
Because of anti-trust issues, Realtors do not have a "set" commission rate.

Typically discount brokers will provide a different level of services provided by a full service provider. It's the old cliche: " You get what you pay for."

Here in Southern Ohio commission rates appear to run anywhere from 3.9% to 7% depending on the services provided.
1 vote Thank Flag Link Mon Apr 21, 2008
If you are looking to see how much your home is currently worth, I would love to assist you. Please visit my site to request a no obligation consultation. Looking forward to speaking with you soon.

http://www.lveeramasuneni.illinoisproperty.com/?p=homeworth
Web Reference: http://lverra.com
0 votes Thank Flag Link Wed Oct 9, 2013
If you are looking to see how much your home is currently worth, I would love to assist you. Please visit my site to request a no obligation consultation. Looking forward to speaking with you soon.

http://www.lveeramasuneni.illinoisproperty.com/?p=homeworth
0 votes Thank Flag Link Wed Oct 9, 2013
There is no set fees, they are always negotiable. I always tell me clients it is not what you pay in commission, it is what you end up with on the sale of your home. When you interview an agent you have to compare what they are offering to the commission they charge. I usually charge 6% but my clients get a lot for that! I work with them to get their home "show ready" I also have a stager if needed. I hire a professional photographer. Sometime it is worth putting in some updates to boost the sale price of their home. So it is not about the commission as much as what the agent is going to do to sell your home. It takes more than a sign in the yard to get a quick sale and a good offer!
0 votes Thank Flag Link Fri Apr 5, 2013
How much can I expect to pay out on commission to a realtor for saleing my home in Riverside, CA?
0 votes Thank Flag Link Thu Feb 2, 2012
That depends on how much you offer and how much the Realtor wants. It is usually between 3 and 6 percent.
0 votes Thank Flag Link Tue Dec 7, 2010
Realtors may not discuss their commissions with other agents or companies. This could be viewed as a violation of the Sherman Antitrust Act..
0 votes Thank Flag Link Sun Oct 31, 2010
Because of anti-trust laws, REALTORS do not have a "standard" commission rate. The rate is negotiated between an individual seller and their respective broker.

Often the service fee or commission rate is associated with the level of service provided by a particular broker. For example, a so-called "discount" or flat-fee broker may provide a different level of service than a full-service broker, and the associated fee will be reflective of that.

As a seller, determine the level of service that is important to you, and then determine whether the broker in question provides the level of service commensurate with the fee that you negotiate.
0 votes Thank Flag Link Tue Apr 22, 2008
There's a old saying "you get what you pay for" my advise is interview some realtors in your area and ask them to negociate their commission from the average 3% or 2.5% down to what you want. If they make thier decission to reduce it and agree without an valid discusion on why they should keep their comission rates at 3% then you should consider the other side of negications when it comes to an offer on your home will they be strong enought to hold the ground on price,when buyer wants to offer less for your home.
0 votes Thank Flag Link Tue Apr 22, 2008
Spell check? Ridiculous.
Flag Thu Jul 19, 2012
Erin
I think that you might want to consider this question:
How can I put the most money in my pocket when I sell my home? Which is more important to you: the commission percentage or the dollars you put in the bank?

My experience is that market level services-knowledge of the market, negotiating expertise, great marketing, including property price, location, and condition, will produce the best price for the seller. I suggest that you interview some Realtors, including full fee and discount brokers, and see what happens. I will tell you I answered a Trulia post just two days ago, they hired a discount broker and were in real hot water. That is not to say that is always the case, however you, as the owner, need to make the call.
0 votes Thank Flag Link Mon Apr 21, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
All real estate commissions are negotiable between the client and the real estate broker. There is no such thing as a current rate.
0 votes Thank Flag Link Mon Apr 21, 2008
Commission rates are set within an individual office, not between REALTORS. Many things are considered when an office sets their commission rate such as the average "cost of sale" for a property, such as advertising, cost of all overhead, cost of gasoline where listings are far apart as in rural areas and the commission split between agents and agencies involved in the sale. A commission is split sometimes four or five ways, ie, a percentage to the listing and selling agents, the listing and selling offices, through MLS, and sometimes a referral. If one understands how the money is divided, it's easier to understand the fee. Rates can also be negotiated at the time of an offer, between the Agent and Seller, (or Buyer, if the Buyer is paying the fee) to be able to put a transaction together. Commissions are seldom considered a "fixed" fee, at least not in my past experience. Cut Rate Commission Offices may work on a scale, depending on the amount of work they do for a Seller. Shelby Bankston, GRI, SRI, Broker in Charge.
0 votes Thank Flag Link Mon Apr 21, 2008
6% This is split between the listing broker/agent and the Selling broker/agent. Typically split 3% and 3% respectivly.
0 votes Thank Flag Link Mon Apr 21, 2008
We list our rates at our web site.

Cheers!
0 votes Thank Flag Link Mon Apr 21, 2008
Hi Erin,

There is really no set commission rate. All offices can charge whatever they require.

I personally charge 3.9% total commission. (which by the way includes a FULL marketing program, we are not a discount brokerage!) You should always pay out at least 2.5% to the selling agent, as I do. 2.5% goes to the selling agent, and I keep 1.4%, total 3.9%. If you need some help, or have any questions, please feel free to visit my website.
Web Reference: http://www.idamccarthy.com
0 votes Thank Flag Link Mon Apr 21, 2008
This is a market-driven number based on your locale. Here in Corvallis, OR, on average, listings are taken for 6%, which is then split between the buying and selling offices. Your local MLS would have statistics for your area.
0 votes Thank Flag Link Mon Apr 21, 2008
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