Home Selling in Lakewood>Question Details

Penny, Home Seller in Lakewood, WA

standard real estate commission in the Lakewood, Washington State and Tacoma, Washington area?

Asked by Penny, Lakewood, WA Mon Jan 17, 2011

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I could repeat everything every one already said. But, instead, I want to share with you that you get what you pay for in most cases. Pick yourself a good agent to list with. The one that has the best marketing plan will get you the most money in your pocket, even if you pay them a little more commission. If you need a wonderful referral, I would be happy to help you.

I would suggest that as a seller, you Google every agent that responds to your question here on Trulia, learn as much as you can about who they are online, read their client testimonials, so you know what their clients are saying about them, and then give us each a call and just ask us why we think you should work with us instead of another agent. Then, pick the best fit for you and let them go to work for you with the skill and knowledge that they have. I hope to hear from you soon.
1 vote Thank Flag Link Mon Jan 17, 2011
There is no standard. No price fixing allowed, against the law. Talk to a realtor you are interested in using and find out how much they charge and what their commission includes.
1 vote Thank Flag Link Mon Jan 17, 2011
Hello Penny. Commission are generally 6% although you may find higher commissions to influence buyers agents to show the listing for ex 3.5% will attract more attention than 3. There are also flat fee listings from a couple hundred and you select the buyers agent commission but at this price it generally just gets you on the mls. No extended advertising, flyers, negotiating contracts etc. In todays market you need a full servcice aggressive agent which will procure a much higher sales price and offset commissions.
Web Reference: http://homes77.com
1 vote Thank Flag Link Mon Jan 17, 2011
Like everyone else, I will tell you there is no standard commission, that would be against the law for everyone to charge the same. With that said, I will tell you that before I could even answer that question for you about my own services I would have to meet with you and find out more about what you need, what your expectations are, what your property was like and so on. Only then would I have an idea of what it would take to serve you well and to sell your property and then and only then could I have a good idea what would be fair to charge you.

With that said I would suggest you only hire some one who really does a complete consultation with you, can clearly tell you what their plan for helping you will be and who you feel comfortable with and trust. It is also important that you hire an agent who can negotiate well for you as well as market your property.

Do not look for the lowest price, look for the person who can get you the most. Also look for someone who will be totally brutally honest with you as you work together, even if it is information you really don't want to hear, the best agent will be one who is willing to be tactful while still delivering you the information you need....even it's not good news.
0 votes Thank Flag Link Tue Apr 9, 2013
I would tell this, don't let anyone take you over the coals, anything over 7 percent is just ridiculous, If they do ask for 7% make sure they give the buyer side the larger half or 4% to attract more buyer agents to bring their customers to view your home. It is a hard market right now, with a lot of stress homes on the market, they make the arms length sales near impossible these days, though some homes hold better value than others because of appeal and quality that is beyond the common or usual home. So if you have one of these it may take a little while to get a buyer but you will get them if your home is more common then they have to stand next to the foreclosure and Short Sale homes which look like them and are built like them, but are priced to sell!
Good Luck with selling your home and I hope you get the price you are asking and that you house is not on the market too long!
0 votes Thank Flag Link Fri Jun 17, 2011
The standard commission in your community (or anywhere) is what you are able to negotiate with the agent and their broker.

Agents are not legally allowed to give you a 'standard' commission as this would run afoul of anti-trust regulations.
0 votes Thank Flag Link Mon Jan 17, 2011
Hi Penny,
The reason that the majority of answering brokers are telling you that there isn't a standard is because it would be illegal for real estate licensees to have a set fee for the industry. If your concern is the desire to feel as if you are offering a competitive commission, the agents that you interview can show you what other "traditional" (not bank owned or short sales) sellers are offering. If your intention is to investigate "what is fair", interview agents or ask for a referral for a trustworthy REALTOR; then you can evaluate the services that the brokers offers in comparison to the fee that they charge. Remember-you don't pay anything if your house doesn't sell. Keep your focus on obtaining results-good brokers are worth the money.
0 votes Thank Flag Link Mon Jan 17, 2011
Penny, there is no "standard" fee schedules. Each Broker & Brokerage firm determines their fees. Of all the questions, and there are many, a seller should be asking, fees should be at the bottom of the list.
The first question should be? What is your knowledge and success on the area your home is located.
The second, can you show me what other homes like mine have sold for? Third, What are you going to do to help me sell my house? and so on....
Once you get the answers to the most important questions, then you can determine what the Brokers fee is and what they are doing to earn that fee.
Someone could have a $50. commission, but if they can't sell the house, what value is that?
I hope I have been helpful.
Web Reference: http://www.realestatewa.com
0 votes Thank Flag Link Mon Jan 17, 2011
Keep in mind that commissions are always negotiable between you and your agent, there are no set standards as it would go against Federal Laws--therefore interview a few agents, or as many as needed from different realty companies, then choose the one you like best and has the most to offer---choose your agent with care.
0 votes Thank Flag Link Mon Jan 17, 2011
Hi Penny,
Commissions are always negotiable. You will see ranges from small flat fees for listing only to 6 & 7 percent. Commissions are split with a portion going to the listing agent and another portion to the buyer’s agent. Commission, while an important issue however, is not what I recommended buyers or sellers to focus on. I suggest you interview several agents and find the best overall representation you can find. Sellers need strong marketing, home preparation and negotiating skills to maximize their position in a competitive market. Experience combined with current trends in Real Estate will yield a better bottom line than a discounted commission and poor advice.
A good agent is worth more than their commission, but a bad one will cost you thousands more.
0 votes Thank Flag Link Mon Jan 17, 2011
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