Due to federal anti trust laws Realtors really can't (and shouldn't) discuss specific commissions, as that can be seen as an attempt at price fixiing - even if that wasn't the intent.
Legally, there is no "customary, standard, usual or typical" commission!!!
It's good to see that most of the agents here "get it" and know the law!
Those that don't, better read up on it!
So - the only legal response is.....ALL commissions are negotiable.
Speak with several local agents and you will see what their commission structure is............ask for a written marketing plan so you will know what to expect, and you can compare and contrast what is being offered.
And, truthfully - sometimes you get what you pay for, and sometimes you do not.
Just because someone may charge you more than someone else, doesn't guarantee top notch service, so you have to do your due dilligence.
If possible, look for an agent who comes recommended, with whom you feel a sense of confidence and who has a winning track record in your area with getting their listings sold.
One I know of takes 20% of the commission and gives it to a charity of the buyer's choice from a list of local organizations they support.
This is a conversation best had with your broker, everyone is a little different.
And in today's market, whatever it is, if they do a good job, it is worth every penny.
Americorp Real Estate
Although I'm not the first to answer I still wanted to send in my response and I hope it helps in some way. My Realtor fee is 6% of the purchase price regardless if the list price is $100,000 or $1,000,000. Although I'm fully aware you can find a Realtor who will charge less something you need to be ok with is that a lot of times you get what you pay for. As random as this may sound it's like a pair of expensive jeans - sure you can buy $40 jeans but they don't make you look as nice and you may have to go through a couple pairs in the same amount of time you can use only one pair of more expensive jeans. Hopefully this random comparison doesn't discredit me too much because I really feel the amount of work and time I put into selling your condo goes above and beyond what many do.
If you're still in the planning stages of selling I recommend interviewing a couple different Realtors and I would really like to be one of those Realtors, of course. If you already have a Realtor in mind but you've only interviewed the one I would still be happy to meet and actually show what I can offer in selling your condo!
3101 N. Greenview Avenue, Chicago, IL 60657
309-269-3499 CELL | 773-305-0480 FAX
There is no "standard" commission. Brokers' fees and results both vary. If you are looking for service and RESULTS; you may pay a little more, but you will achieve your goals sooner.
Best of luck,
There is not exactly a standard percentage. While commission is important make sure you pair up with a broker and brokerage that will work with you to sell your condo. A broker should do more than through your listing property listing on the MLS. He or she should know your area be participating in forums such as this and syndicating your listings to other website to gain additional exposure for those shopping from other state because of relocation.
The most common commission percentage is 5 & 6 percent.
Best of Luck,
Manuel Brown, Broker
Commissions vary based on services performed, marketing, etc. A common commission we see is 6 percent of the sales price, but it all depends on the circumstances. My brokerage regularly buys and sells condos and investment properties in Chicago. Happy to discuss with you further. You can reach us at 312.834.4002.
However you can look at the statistics of what 350K condos have actually charged, but need more info as to location and other criteria to see what those stats are.Then YOU can make a determination.if it is 'standard' or not.