Home Selling in Morristown>Question Details

Nibor, Home Seller in Morristown, NJ

what can we expect to pay for a full service agent to sell our home in Morristown? Is it negotiable?

Asked by Nibor, Morristown, NJ Wed Jun 30, 2010

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Nibor - Please know that.............there is no "going rate" - there is no "customary" or "usual" rate - as those knowledgeable agents (who know better) below have stated - all commissions are negotiable. It is against anti-trust laws and improper for any agent in a public forum to tell you what you should or shouldn't pay or imply that to do less would not be "customary".

My only suggestion to you is - concentrate on what will be offered in the way of marketing - concentrate on the proven expertise of the agent - and concentrate on carefully selecting an agent you have a comfort level with, who you feel will do the best job.

Discuss in detail what you will be getting for whatever commission you and your agent agree to.
Have it put in writing so that you know what to expect.
Interview a few agents, and be an informed consumer.
You will be working with your agent as a team - with the same goal. The commission is only part of the equation.

Best wishes to you.....
Debbie Rose
Prudential NJ Properties
2 votes Thank Flag Link Wed Jun 30, 2010
Nibor -

All commissions are negotiable. I have seen commission rates fro 5% to 7%

7% which is very common right now due to the amount of time that homes are sitting on the market which would take more time to advertise and sell.

A good agent will discuss in detail their marketing plan which will be explained in detail on the strength of the company and the stregnth of the Realtor. Find a strong Realtor with a good marketing plan and price your home correctly and it will sell.

I have never taken a client to homes that have a higher commission first. My clients and the prvicing of the homes on the market dictate what I show to potential home buyers, not the commission.

As Debbie Said, interview a few agents and discuss each on thier plan to get the house sold.
1 vote Thank Flag Link Thu Jul 1, 2010
Nibor,

You might want to read the blog attached to the link below. It could be of some help in getting the biggest bang for your buck in your selection of an agent. Good luck.

http://www.trulia.com/blog/rockinblu/2008/12/i_ve_got_my_fin…
1 vote Thank Flag Link Wed Jun 30, 2010
Commissions are absolutely negotiable.

Fred is right, interviewing agents carefully and thoroughly is extremely important. I also believe visiting the agent's office and meeting their broker is important. How the office is managed can be very telling.

Do not be influenced by number of listings an agent has. That can often translate to less time for you or handing you off to assistants.

Also realize that the most effective agents are the ones who will tell you what you need to hear and do to sell your house, not necessarily what you want to hear. These days the truth can hurt but telling you your house is worth more than it really is is only going to hurt you in the long run. Competition is fierce and your agent needs to be able to help you navigate in these tough times.

Be patient in the hiring process and choosy. A great agent can make all the difference in making a very stressful process less stressful.

Best of luck!
1 vote Thank Flag Link Wed Jun 30, 2010
Nibor, as others have stated, real estate professionals, at risk of losing their license, are PROHIBITED from discussing compensation in a public forum. It does make 'price comparison' a bit more difficult I know.

Contingency compensation, the model under which real estate agents work, is nearly ALWAYS negotiable. Some brokers do not allow agents to adjust the compensation structure. It is always helpful to the consumer to identify who these brokers are.

I would encourage you to not become distracted to greatly with the compensation but be really focused on the results. Your agent will share with you the delicate balance created in a buyer or seller market, profile of home and strategy to be used to achieve the results most beneficial to you according to your time frame.

My most frequent source of listing homes for sale are those buyers who went the discount route. Consequently, I LOVE DISCOUNTERS. In the overwhelming number of instances they simply add to the cost of selling your home.

Look for results and the strategy your real estate professional will implement to reach buyers in the inter-galatic and grass roots arena.

Best of success in selling your home.
Annette Lawrence
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041
Web Reference: http://www.MyDunedin.com
0 votes Thank Flag Link Thu Feb 9, 2012
This is hilarious. Real estate agents are using anti-trust laws as an excuse to be secretive about their rates. An antitrust violation only occurs when two or more companies agree to coordinate their pricing or commission rates. Real estate agents and agencies are perfectly free to say "My company charges x," just like any other business does. They don't want that, though, because open discussion about rates would lead to competition and lower rates.
0 votes Thank Flag Link Thu Feb 9, 2012
Hi,

All commissions In the state of NJ, are negotiable and only payable upon closing. It is ok to negoitiate. Generally we are seeing commissions from 5% to 6%. If you go with a discounted broker you will get what you pay for.
Good Luck
0 votes Thank Flag Link Sat Jul 3, 2010
In the state of NJ, commissions are negotiable and only payable upon closing. But, ultimately, you will get what you pay for. Invite several agents in to present their marketing programs for your home. Ask them to sign an agreement to live up to every piece of the marketing program. Ask them for pricing advice with the appropriate back-up information regarding comparable sales and price trends. Choose the agent that has the most complete marketing program. I'll be happy show you what our marketing program consists of and then negotiate the commission.
0 votes Thank Flag Link Thu Jul 1, 2010
you have to realize when hiring a realtor most will not tell you or most corperate companies have certain commissions that the look for commission is always, always negotiable.The going rate for commission is either 5 or 6 perecent and the reason you should be on at 5 or 6 percent is because that is what everyone else is on at. 3hink about it sounds crazy but realtors are independant contractors we work on commission only if you start less then 5 or 6 percent they will show all of the of the higher commission houses first liniting your activity on your home. Look back at the real esate company Foxtons trying to charge only 3 percent and now out of business why because once everyone realized that they were a mortgage compoany trying to get mortages rather than services their real estate clients ad taking down the realtors commission all of the realtors botcotted their listings and they and no more. Listen a homeowner has to do their homework themselves interview around if the realtor is reputable and does his job you got what you paid for but it is your job to find the right realtor for your needs.
0 votes Thank Flag Link Wed Jun 30, 2010
Yes all commissions are negiotable Nibor. And every deal and transaction represent it own price and terms. The first and foremost thing is for you to find someone that you are comfortable with and can trust unconditionally! Aftre you get that comfort zone, then you can discuss the fee structure with hat person. The least expensive is not always the best, nor is the most expensive.
Todays market is complex and you need a seasoned agent to get you through this process stress and worry free. Someone that is there for you and will get the job done in a reasonable time table. That is also a joint effort between you and your agent, you must work together to make this happen with ease........
best of luck to you in you process, should you desire additional information ar have any questions, feel free to ask.
best regards,

Dave Wainwright, Jr.
davew@remax.net
973.818.7100 cell
0 votes Thank Flag Link Wed Jun 30, 2010
Hi Nibor,

Commissions are negotiable in New Jersey. Your best bet is to have us in to quote you a commission fee based on the service you are looking for. I can also do a market analysis on your home at the same time and show you what you can expect with regard to pricing, staging, marketing time, etc. If you are interested, contact me privately and I will be honored to go over our program and pricing.

Good luck!

-Marc

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Coolest map-based home search: http://www.marcpaolella.com
0 votes Thank Flag Link Wed Jun 30, 2010
Hi Nibor: I am a full service agent serving Morristown and the surrounding areas. It is true that commissions are negotiable, and there is a "going rate" (any where between 5% and 6%) that most agents charge, but it is important to know what you are getting for your money. if someone offers you a commission rate at less than the others, you can be sure you will get less in the way of service, advertising and overall exposure to the general home buying public.You want the service of a knowledgeable agent who works with you from the start of the process to the day the keys are transferred to the new owner at closing. You need a guide and an advocate and someone with experience. It is also important to know that the total commission is actually split 4 ways; between buyer's agent and his/her company and your listing agent and his/her company. When you consider all that your agent will ( or should) be doing for you, this is not a lot of money. You want the best price in the shortest amount of time and the best terms for you. A good agent will be sure this is accomplished.
Cathy Lutz
Keller Williams
973-539-1120 (office)
973-886-5318 Cell
0 votes Thank Flag Link Wed Jun 30, 2010
One other thing:
Due to anti-trust laws the discussion of specific commissions in a public forum is a big no-no and most agents are very aware of this.
0 votes Thank Flag Link Wed Jun 30, 2010
All commission are negotiable.

That being said, interview many agents. From big firms to boutiques, agents are different.

But, don't be swayed by fancy brochures. Selling your home is about fantastic information about your home in the form of excellent pictures and a real video.

Also, make sure that the listing agent only works for you. The listing agent should not be the one who also represents the buyer. This is called dual agency.

If the agents you interview don't mention it, kick them to the curb!

Good luck,

Fred Glick
Web Reference: http://fglick.com
0 votes Thank Flag Link Wed Jun 30, 2010
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