Rick Stevens Realty Services
Commission is always negotiable, and the Department of Justice even condones it as good competitive behavior among agents. So 6% commission is almost always the normal but that can really vary depending on the location and price of the home you're wanting to sell.
Many agents are willing to be flexible on commission rates, but it's not something they like to advertise. And most clients are not very capable or comfortable negotiating rates.
At UpNest (http://www.upnest.com), we created an online marketplace where home sellers can confidentially submit their homes, and multiple top local agents will compete to obtain your listing. Some agents lower their commission rates to stand out, and every agent that submits a proposal is an experienced agent, so it's not the same as working with a low grade discount brokerage.
Hope that helps!
Century 21 Diversified
Is there a fixed rate? No. That's illegal. That's a violation of the antitrust laws. Brokers or agents can't get together and agree on a specific rate.
Is there a going rate? Sure. I'll bet 80% of all the agents in Carmel will quote you the same rate. And most of the variation will be between full-service brokerages and discount brokerages. That rate might be slightly different (typically by one percentage point) in different cities or states. So if it's x% in Carmel, it might be x+1% in San Francisco or it might be x-1% in Dothan, Alabama. (I'm just making that up; Dothan might be higher than average and San Francisco might be lower. The point is that you'll see some slight fluctuation in different parts of the country.)
Are commissions negotiable? Yes...and no. Since they can't be set (that'd be illegal), you can always ask for less. That's your absolute right. But it's also the right of the agent to say "no." And in many brokerages, agents know that their broker isn't going to offer a discount just because someone asks.
Now, there are some strategies to negotiating commissions. For instance, if you're selling one house and buying another, that gives you extra leverage and the prospect of the agent (who'd handle both the sale and purchase) earning two commissions. You have a better chance of succeeding at negotiating in a case like that.
Back to your question: It's likely that most brokerages in Carmel charge the same commission. But I could be wrong. You can determine that by calling 3 or 4 agents with different brokerages in Carmel and asking what commission they charge. See if you come up with the same number. If so, that answers your question. That'll require maybe an hour's worth of work on your time. But...considering the commission you'll pay--could be $6,000, $12,000, $18,000, or more--it might be worth it.
Except....final comment here...don't base your decision on which Realtor to use on the basis of commission. Base it on knowledge, expertise, and personal chemistry.
Hope that helps.
I've done the same thing.
The end result is, the agent makes piles more money doing it FREE.
Grasping at the illusion of saving money the consumer practices consensual delusion.
But Indy (maybe it's Don Kohler) is going to do it FREE......
...and give away FREE money....
...and give 50% of commission to buyers!!!
So where is the free money and the rebate coming from?
So what do you want, a professional whose fees are transparent, or what's behind curtain #2?
Who do you think is being honest, "Let's negotiate compensation" or 'I'll do it FREE!"
In this age of consensual delusion many of you will be shocked at who walks willingly into deception.
"So much incorrect information and so many lies." ......and I'll do it FREE!
There are only 3 ways you can do it free. One of those violate all MLS cooperative rules. Tell us which you use so you are not the subject of your own accusation
So let me suggest that you don't have to make a real estate agent rich on your dime. You can either hire them at their price, or hire me at my price. I would send them packing. Go to DonKohler.com and open your eyes to a new and fair way to buy and sell real estate. Call me at 317-748-0807 for information on my offers and cash gifts and incentives.
When is the last time a real estate gave you cash?459
it breaks down like this. I have a house that I am going to list for 369,900
21,000 for first 300,000
3,400 for 69,900
That total then gets split 50/50 to the buyers agent and sellers agent. They then split their halves with their respective Brokerages. After marketing taxes and membership fees, each agent would be left with anywhere between 3,000 - 4000
Sometimes agents will give back some to their clients if they use them to find them a new home to purchase. I hope this helps. Feel free to visit my website email me or call if you have any other questions or if you would like a Home analysis.
Thanks, Andrew Clyne firstname.lastname@example.org, 317-800-0909 http://www.AndrewSellsIndy.com
I know it's been some time since you posted your question regarding commission. Commission is a negotiable percentage and/or amount. Many agents apply a reduced commission if the seller will be purchasing their new home from the listing agent. Many factors come into play when addressing the commission topic. You'll find some limited service firms that will list your home for a much lower price by reducing the services you'll receive. This is typically done as a flat fee listing. When interviewing Realtors to list your home, ask questions regarding what you should expect marketing wise, service wise, etc. Statistically 90%+ of homebuyers find their homes online. You want to ask questions about what marketing you can expect to make sure your home is getting the proper exposure. As agents, we invest a large amount of our time and resources into our listings. If you have an agent that is requesting a higher commission, it may be due to the level of service, experience and marketing they bring to the table. These factors can contribute to a quicker sale and hopefully generate you a higher sale price. If you are still in the market for a listing agent, please feel free to contact me at 317-590-3434. I would be happy to prepare a CMA on your home, address potential closing costs/fees and discuss the marketing strategies I implement in my listings.
Century 21 Diversified
Thanks, Terri Wilcox
Great question - there is no standard commission. Companies each establish their own commission policy. Regardless of who you hire to sell your house, you should be confident that you understand what you will get for the commission you pay. Make sure the agent understands your specific circumstances, goals and priorities. The more you communicate up front, the happier you'll be with the outcome! We're happy to help if you'd like to meet at your convenience. Chris and Shari Dykes, Carpenter Realtors - "Your Family First" 317-640-2210
There is no set fee for services in the Real Estate business. All commissions are negotiable between the Seller and the Broker.
One can find flat-fee brokers who will list a property for a very low flat fee, but offer few services. Experienced home sellers often find that they they are comfortable handling many of the aspects of a sale themselves and choose a broker who will work for a substantially reduced fee.
Other companies - like mine - are full-service and charge much higher fees. For home sellers who are not comfortable with many of the complicated and time-consuming aspects of a real estate transaction, a full-service brokerage tends to be their choice.
Good luck in your sale!
Principal Broker, REALTORÂ®
MacDuff Realty Group, LLC