Home Selling in Iowa City>Question Details

Sarah, Both Buyer and Seller in Iowa City, IA

Which real estate agents have lower commission fees? I'm not interested in paying 6% commission.

Asked by Sarah, Iowa City, IA Sun Feb 22, 2009

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8
this resurrected question is almost 3 years old!

do you really think the poster is going to "call you"?
1 vote Thank Flag Link Sun Dec 2, 2012
It is best to visit with a realtor who looks like they may be a good fit with your needs. It is really about what you are getting in terms of value for the commission cost to you. You not only need to get your property marketed; you need to get to the closing table. Give me a call or visit my website at TalkToLeAnn.com. We can discuss your needs and see what may work best for you.
0 votes Thank Flag Link Sun Dec 2, 2012
At Ruhl&Ruhl we charge a 6% commission to Sellers - no commission to buyers. There are some companies that charge less. Our company believes you get what you pay for.
0 votes Thank Flag Link Thu Oct 15, 2009
Hi Sarah, I still believe that your best solution is to connect with a good local Realtor who provides you with the very best marketing services and most of all will guide you through the current market conditions in your area, so that you yourself will become a very well educated Seller and very comfortable with the pricing of your property and the negotiation plan that follows based on information provided by your Realtor.

As far as the total commission is concerned that you will finally agree with your Realtor/his/her brokerage company for your listing is usually related to services provided, your area market and many other influences.

When I answered your question earlier, I was talking about my personal experiences having worked for 3 different brokerage companies in the larger Chicagoland area and that is my experience based on full servie brokerage companies in my area. Different states, different areas, different brokerages may have different variables.

I was assuming that because you mentioned 6 % that you had had some discussion with some Realtors to even mention the 6 % commission.

Good luck to you and I hope you will find an experienced Realtor and good solid brokerage company in your area to assist you successfully in the sale of your property.
Edith
edithsellshomes@gmail.com
0 votes Thank Flag Link Mon Feb 23, 2009
Unlike what Edith has reported, real estate commissions are always NEGOTIABLE! There is no "norm" especially when comparing the Chicagoland area with Iowa City. Even within the same company, you may find different agents have different commissions. You should make phone calls to find out which agents provide the commission you are willing to pay and what they provide for that commission or choose your agent and negotiate the commission with that agent.

There are all kinds of variations on commission scales as well: fee for service (cafeteria style), discounted services, full service, assist to sell by yourself, etc. Research will help you discover which works best for you.

The figures Edith quoted do not apply to my market as we are very different as well. In like manner, buying a home in Chicago may cost a third more than in my market and two thirds more than in your market. Each market will charge what the sellers are willing to pay for competent professional help in marketing their home in this difficult time.

In our market (as I believe it is in most), the seller pays a full negotiated commission and a portion of that commission is given to the buyer's agent's company. As a result the individual agent does not get the full percentage you are paying for llisting your home. Essentially 4 parties are paid from the listing commission: the listing agent, the listing company, the buyer's agent, and the buyer's agent's company. If this system applies in your area, then when you shop as a buyer with an agent, you will not be paying a commission to your buyer's agent.

Good luck with your search.
0 votes Thank Flag Link Sun Feb 22, 2009
Sarah
So what is your question? I think you might answers that are more useful to you if you re-phrased it.

Your profile says that you are a buyer and a seller. There are too many variables for me to answer your post.

In short I would post that many times sellers confuse the percent commission paid to the net profit achieved.
In any given market only about 20% of the listings are prepared for market, marketed, and priced correctly.
So the end result, which is what you want, is that (in my market, for example) 80% of listings sell for 92.3% of asking price, and 20% sell at 98.7% of asking price.

In which group do you want to have your home sell?

To put it another way, if 80% of Realtors are unable to maximize the sale value of a home, your job as a seller is to figure out who they are. How are you going to do that?

If only 20% of Realtors are achieving the maximum price, do you think that they work at a discount, or do they charge above market fees because they deliver above market results?

Good luck.
0 votes Thank Flag Link Sun Feb 22, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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Hi Sarah,
Unless the brokerage company and listing agent offer a tremendous amount of extra and additional marketing materials and advertising (and believe me advertising esp. in local papers is very expensive) you should be able to find a brokerage and a listing agent who will list your property for 5 % which is probably more of the norm throughout the country. I must admit though with the way the market is at the moment and listings are much longer on the market and require so much more time, effort and marketing and advertising on the part of the listing agents, I do not blame them if they require 6 % in order to be able to expand the marketing efforts over a longer period of time.

Would you be interested for me to recommend a trusted Realtor Partner to you who is the expert in your area, as you are seemingly selling and buying in Iowa city IA correct. I would gladly do so....
If you are interested just e-mail me with your e-mail address, a phone number to reach you and a little information about what you are looking for to buy and what you are looking to sell at this time.

Hoping to hear from you soon.
Edith - YourRealtor4Life! Working always in the very BEST interest of her clients~!
edithsellshomes@gmail.com
0 votes Thank Flag Link Sun Feb 22, 2009
sarah,


You will no doubt be able to find someone that will be willing to list for a smaller fee for professional services. However, as they say, you get what you pay for.

The level of service provided will not be the same......you can count on it.

Before you sign, be certain you completely understand what services will and will not be provided. And it's probably best to see it in writing.

Good luck
0 votes Thank Flag Link Sun Feb 22, 2009
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