Why don't you get your own real estate license and you can sell your home yourself and see the pain and agony we go through. Or better yet, tell your boss you really only want to work for $25,000 rather then the $150,000 annual salary. Can you survive on this income living in Silicon Valley? Why do you think we should work for free? I hope you get my point :)
Best to you.
I tried to hyperlink the commission link, but the system wouldn't let me. It is:http://buyandsellexpert.com/category/real-estate-agent
I hope you find this helpful.
The question you should ask is why would an agent be so desparate as to take a lising, show it dozens of times, waste all that time and gas for pennies??
A sucessful lawyer or doctor will not drastically cut their rates, a sucessful realtor would not either
Our system helps to ensure that our properties are found for specific searches. Most of our expenses are fixed costs, so we can lower our commission and make it up in volume.
The customer does not get less service. I have still won negotiator of the year award three years runnng. I have just taken advantage of my marketing skills and pass the savings on to my customers.
When a home is marketed well it will sell faster and both the seller and the agent make more money.
What is essential is that the buyer agent is well compensted. Our market research shows that when you offer the buyer agent less, your home is more likely to sit on the market; the listing is more likely to expire and you are more likely to use more than one agent. Doesn't sound like fun to me.
Price your home right and don't forget who is bringing in the customers. The customers are bringing in the customers, but the buyer's agent is the one who has a lot of influence on the deal.
If you found what I had to say helpful, please take the time and give me a thumbs up!
More information is available on Buyer Agent Commissions.
I hope you found this post helpful.
Personally, my commission is negotiable. If your home is a multi-million dollar home, you might have a decent shot at such a commission. I would STONGLY caution you from going this route however. While many "discount" brokers advertise that they provide full service, the truth is they simply do not. You need to have their marketing plan explained in great detail. As the previous agent responded, it is very costly to be a listing agent, especially in such a stalled market like ours. The only way these discount brokers can make money is by "collecting" as many listings as they possibly can and therefore not having the funds or the time to put forth the effort that YOU deserve to get your home sold. I can't tell you how many frustrated sellers I have spoken with who say they haven't heard a word from their agent in weeks and that they don't know what to do. So heed the advice up front--don't do it! Unless of course, you don't really care if your home sells--which I doubt. Good luck!
I know 2 -3% or more sounds like alot of money, but you have to realize the Realtor is paying for all the marketing out of their own pocket, splitting the fee with their broker, plus paying income taxes. So at 1% commission on a $500,000 house, the agent is really only left with $1500 to cover marketing expenses and their time (often over 100 hours). Virtual tours can cost $500 alone, not to mention up to $100/week for newspaper ads. At discounted rates, you will not be getting a full marketing plan - and in this market homes that are just put in the MLS aren't selling.
Your best option is to find one agent to act as both your buyers agent for your new home and listing agent for your current home. Then the agent is more likely to offer a discount on the listing, as they can subsidize it on the purchase.