Home Selling in 14043>Question Details

Sharon, Home Seller in Buffalo Area

What is the going commission rate to sell a home? And is it negotiable. Thank you

Asked by Sharon, Buffalo Area Thu Jun 26, 2008

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The absolute only answer any realtor should be giving you with regards to this question is that "All Commissions are Negotiable"
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Joshua is correct. It is a potential Sherman anti-trust violation for Realtors to discuss, or recommend what is and is not standard, normal, usual, "going", regular or any other type of commission. Each agent and agency charges what they think their market will bear, and what they believe their services are worth. Period.

from our local board's website regarding anti-trust guidelines:

At any time, in any place, or under any circumstances, do not have any personal, telephone or e-mail conversations with competitors concerning commissions, fees, charges or any other business practices of your real estate business or those of the firm with which you are associated. This applies at social gatherings, on the golf course, while hunting, in the bar, cocktail parties, board functions and at all times and in all places. At association or board meetings, confine discussions to topics of association or board business directly involved in the purpose of the organization and the meeting.
2 votes Thank Flag Link Sat Jun 28, 2008
Alan May, Real Estate Pro in 60201
MVP'08
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The absolute only answer any realtor should be giving you with regards to this question is that "All Commissions are Negotiable". Ulli's answer below is something that could lead to her getting into trouble - it reeks of anti-trust law violation.

I have seen commissions range anywhere from 0% up to 12% or even higher depending on the circumstances. The best thing you could do for youself is to interview as many agents as possible and ask them all what they charge. This will give you your best answer.

If I can be of any further assistance, please don't hesitate to contact me at http://www.HernandoLuxuryHomes.com - I'm happy to help!

Thanks,

-Josh
2 votes Thank Flag Link Fri Jun 27, 2008
Sharon,

Everything is negotiable but brokers are generally unwilling to stray too far from their established rates.
You can expect anything from 6% and up.

Good luck,
The "Eckler Team
1 vote Thank Flag Link Sat Jun 28, 2008
Hi Sharon,

While Joshua's answer is mostly true, don't panic. In this area I've never seen commissions approaching anywhere near 12%. Feel free to contact me if you need any assistance.
1 vote Thank Flag Link Fri Jun 27, 2008
Here is some advice, direct from me to you. When choosing a realtor you should never chose them based on their commission (which is negotiable) or their opinion of price (which is also negotiable). Rather, choose them on the strength of their marketing plan & the integrity of their Company. You will be better off with your decisions. Keep this in mind, one part of a listing agent's job is to negotiate price for you with what is probably your single largest investment. See how & how well they negotiate their fee & decide if that is the kind of realtor you want representing you.
1 vote Thank Flag Link Thu Jun 26, 2008
Hi Sharon,

Commission rates are not set. They are negotiable. They usually run at about 6% of the sale's price and is split evenly between listing brokerage and buying brokerage. But remember the listing agent has quite some work getting your property in order and having all the paperwork and inspections done. Then of course you have the 'open houses' and all the advertisements. And if you offer less than 3% to the buying agent sometimes your home is not as often viewed as others that offer 3%.

Hope this will help you in your decision.

Ulli Rieckmann-Fechner

1 408.679.0333
ulli@cashin.com
Web Reference: http://www.HomesByUlli.com
1 vote Thank Flag Link Thu Jun 26, 2008
Commissions are negotiable. There are many business models out there with all types of commission percentages and/or schedules available. You should research the various types of business models and decide what works best for you.
0 votes Thank Flag Link Sat Jun 28, 2008
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