Home Selling in Lott>Question Details

Hboyd3609, Home Seller in Lott, TX

What's the average realtor fee in TX?

Asked by Hboyd3609, Lott, TX Sat May 15, 2010

We are looking for a realtor. We have found one, but we don't know what is a fair realtor fee.

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Commissions can always be negotiated.
0 votes Thank Flag Link Sat May 15, 2010
Have your realtor explain what a commission split is and how he or she handles this. It could be a 50/50 split between selling agent and buyers agent or more going to the buyers agent. Commission ( fees )can be used as a tool for the sellers benefit and not just a fee the seller has to pay. Check with other Realtors as well and listen to what they have to say on the subject and why the commission (fee) is what it is and yes it is negotiable. Good luck to you.Take care Chuck
0 votes Thank Flag Link Sat May 15, 2010
I like the answer that distinguishes between "average" and "fair." Those are two entirely different items.

But I understand your question. If I can rephrase it: "We found a Realtor and are thinking of using him. But we want to make sure we're not overpaying for his services."

So, do two things:

First, call other agencies and speak to other agents. Find out what they charge. There probably will be some variation, but most will be pretty close to one another. That'll give you an "average."

Second, move on to "fair." And there are two factors here. First, what is your Realtor proposing to charge versus the "average"? If--and I'm just making these numbers up and they definitely are not accurate (deliberately so), if the "average" was 5% and your Realtor was proposing 15%, then I'd worry. But something reasonably close--a percentage point or so--is nothing to worry about. But the second factor is far more important: What is your Realtor proposing to do for the fee? What's his/her marketing program? That's the real issue. How aggressively will your property be marketed? How will it be marketed? Have you received valuable information on pricing your property--information on other properties you'll be competing with? Information on recently sold properties? What sort of support does the agent's brokerage offer?

Those are the factors to consider to determine a "fair" fee.

Hope that helps.
0 votes Thank Flag Link Sat May 15, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Keep in mind that all commissions are always negotiable between you and your agent.
0 votes Thank Flag Link Sat May 15, 2010
Hi Hboyd3609,
Remember everything is negotiable in Real Estate Business. Unfortunately, I am not from the area that I can work with you but I am glad that you are considering working with a Realtor.
Good Luck,
Pelin
http://www.dallashomelist.com
0 votes Thank Flag Link Sat May 15, 2010
Your question is interesting. Average vs fair and whats a fair compensation for a REALTOR. A fair and average REALTOR can be found for a marginal fee or less than average fee and may produce average or fair results.

A good REALTOR can be found for a good price and may produce good, fair, or average results.

An excellent REALTOR can produce excellent results for a fair compensation that may be negotiated. Whats it worth to you is more the question you should ask yourself?

What are your needs and what are the results you are seeking. If you have a REALTOR or are looking for one, remember what I wrote and ask yourself if they seem capable and are they worth it. You will know.
0 votes Thank Flag Link Sat May 15, 2010
Freddie Mac pays 7% on their listings normally, with a bonus to a "Buyers Select Agent" of up to 1000.00 in addition. Fha short sales pay 6% and HUD homes pay a flat fee to the listing agent and 5% to a buyers agent unless the property is in a targeted area then they pay up to 8% to a buyers agent. These are the guidelines that these entities have selected to be able to get their properties sold and they have determined that this is fair compensation. Remember all compensation is negotiable.
0 votes Thank Flag Link Sat May 15, 2010
Unfortanately no Real Estate broker or agent can answer that question on an online forum like this as it violates the Sherman Anti Trust federal laws. You need to call some local real estat eoffices and ask what they cahrge to lkist a home and more importantly what you get for that fee. They are allowed to talk to you and state a commission one on one but cant discuss what others charge. good luck with you sale.
0 votes Thank Flag Link Sat May 15, 2010
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