There is a range of between 4 and 10% with the current popular rate holding at 6%. If you are considering selling there are some important considerations to keep in mind.
1. Interview a number of agents before deciding
2. Look for an agent offering a comprehensive marketing plan....if they can't explain it, move on......
3. Seek a HUGE internet presence...90% of today's buyers begin looking on the internet
4. Ask where they will advertise your specific property and what their advertising budget is...
5. Ask what their sales volume was for last year and how many homes they have sold in the last 6 mos.
6. Have they sold homes in your community?
7. Why should you choose to work with them instead of another agent?
8. Make sure you choose a "full time" agent. Part time agents = less than service
9. How do they plan to sell your home?
10. What is their company doing to attract buyers?
There should be a connection between your commission rate and the services you expect to recieve. Our best advice is to make sure you clearly understand what services you are recieving before you enter into an agreement.
the "Eckler Team"
Rates actually go up to 10% in some places, so the true question isn't about commission.
The true question is this: How do I net the most profit when I sell my home?
The answer is: You will receive market price when the property is properly prepared for market, marketed, correctly, and priced right.
The question about commission is s red herring. I've seen people list their homes for low commission...and they never sell. I've seen people list with above-market commission, and not get the results that they wanted.
You need, as a consumer, to analyze the Realtor's proposal and determine if you believe that their proposal will produce the highest profit for you. A big part of that profit comes from great negotiating, so you should expect that the Realtor you hire can demonstrate great negotiating skills.
If you'd like I'd be happy to refer you to a top Realtor in Buffalo. They will be a great negotiator.
Whatever you do, never hire a Realtor based on 1) the commission and 2) the valuation they present on your property.
It is simple really. It is illegal for commissions to be mandated or 'set' by ANY Broker/Agent or there franchise or agency.
However most will range between the 4-7% depending on the area you are interested in. Let me elaborate a little more... When you negotiate your fee as a Realtor/Agent/Broker you always try to match the amount of value and marketing you can offer with the cost/commmission you are asking a seller (or buyer) for.
If you provide a full service range then you deserve to be paid the higher end. If you can only get a smaller fee then you need to be clear on WHAT you are offerring and what you're not!
As a buyer and seller of real estate or what we call a consumer you need to find out what the Realtor is offering by way of their service range of products and marketing tools etc. Then establish their experience and agree in a way that BOTh sides are in total harmony. Hope that helps...