Home Selling in 59901>Question Details

Airplanelady, Home Owner in 59901

what is the average percentage realtors charge for home sales?

Asked by Airplanelady, 59901 Thu Apr 12, 2012

Help the community by answering this question:

Answers

4
IT IS NOT LEGAL TO QUOTE A STANDARD COMMISSION RATE. COMMISSIONS ARE NEGOTIABLE. ANY STANDARDIZATION OF COMMISSION RATES WOULD CONSTITUTE A RESTRAINT OF TRADE.
0 votes Thank Flag Link Fri Apr 27, 2012
There is no typical, average, standard, regular, or normal commission.

Each agency, and often each agent charges a different fee based on the services they offer and their own personal burden rate.

Statements to the contrary are a breach of the Sherman Anti-Trust Act.
0 votes Thank Flag Link Thu Apr 12, 2012
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
There is no average commission!, .Each real estate company is free to set its own fee schedule and to negotiate various rates with individual buyers and sellers. Any agreement between two different firms to set standard rates, however, is a serious violation of antitrust laws. Violations occur when competing firms agree to act together, this is what the US Justice Department calls restraint of trade. There is no set fee, fees are negotiable.
0 votes Thank Flag Link Thu Apr 12, 2012
Typically most Realtors will charge between 5-6%. This is usually split equally between the lisiting company and the selling company. While what they charge certainly matters, it's not as important as what they do for what they charge. What the public tends not to know is that 80% of all new agents won't last more than two years in the business. That of those who do remain in the business, the average agent earns less than $40,000 a year before taxes. In other words the majority of agents working at any one time really aren't that great and unfortunately you don't really know how good or bad your agent is until it's over and too late.

Being successful in real estate requires a huge commitment of time and money and again unfortunately most agents consider real estate to be a low overhead business and end up with incomes to match.

I've attached a link below that you may find interesting on how to find a great Realtor.

I wish you all the best.
0 votes Thank Flag Link Thu Apr 12, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer