Heather, Home Buyer in Rocky River, OH

What are standard realtor commission rates for the Cleveland, OH area? What is the likelihood of being able?

Asked by Heather, Rocky River, OH Mon Jun 8, 2009

to negotiate a commission with a realtor - I was quoted 7% for 1st $100K and 5% thereafter - is this in line with the norm, or is there room to move here? Don't want to offend, as I know the services are valuable, but also don't want to overpay.

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Along with these other answers, remember, you get what you pay for. The commission rate can be structured as to the services that you need or desire, i.e., if you want full service, then you will and should pay more ocommission, less service, less commission. As stated, the commissions are negotiable but to state there is a standard rate borders on price fixing and as Realtors, we have to be very careful about this with our clients. I would be happy to send to you a Value Propostion List of some of the things we do for you, a list of almost 100!! for your commission.

Web Reference: http://www.TheTothTeam.com
1 vote Thank Flag Link Thu Jun 11, 2009
Everything in a buying or selling contract is negotiable including the commission. It is a serious offense to state that there is a standard commission rate. What most sellers don't realize is how little the listing broker ends up with for all his work. In the case of a 6% commission, the listing agent splits the commission with the selling broker usually. So his part is 3% and out of that he gives his office 30-50% and then he pays office fees and advertising and marketing costs as well as taxes. A listing broker ends up with 1/2% to
1 1/2% at the end of the process. Sometimes he is in the red and makes no money at all. Most important is picking the right agent who can price the property to sell at the highest price in the shortest amount of time.
1 vote Thank Flag Link Tue Jun 9, 2009
Don't believe that! I sold real estate for 20 years near and in Akron. Agents split 50/50 with their brokers. We had/have fees, true. But so do many other jobs have expenses. Just sayin'
Flag Tue May 26, 2015
My aunt's home just sold for $68,000 in Cuyahoga Falls. On one of the realtor websites, it lists the house as being sold for $68,000, but minus 13.4%. What is this 13.4%? Realtor commission? Or another fee attached by the First Merit bank as part of their estate management program? Any advice is appreciated!
0 votes Thank Flag Link Sat Apr 11, 2015
Heather, All real estate commissions are negotiable and don't let anyone tell you what the "norm" is in the industry..such a thing doesn't legally exist. I'd be careful to work with someone who is willing to drop their commissions before they've even done anything...remember that the person negotiating their commission is also negotiating the sale/purchase of your home.....you want someone to fight for what's best for you.
Web Reference: http://bkuhns.cbrwg.com
0 votes Thank Flag Link Mon Jun 8, 2009
Keep in mind all commissions are negotiable.

0 votes Thank Flag Link Mon Jun 8, 2009
Each realtor is different, and yes, you can always ask to negotiate their commission. And you're right, the services are valuable, as there is much that goes into selling a property! But please, don't worry about offending anyone...it's certainly within your right to shop around!

If you'd like a 2nd (or 3rd or 4th) opinion, please give me a call!
0 votes Thank Flag Link Mon Jun 8, 2009
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