Your Bio, says you have 30 years experience as a Hard Money lender, and Realtor.
Your website says
8 great reasons to list with us
Number 7 "We refer buyer calls (buyers without agents) directly to you instead of trying to show the house ourselves to make the extra 3% buyer's agent commission."
WHEN PIGS FLY......JOHN
Number 8 "We set up your MLS listing in a way that Realtors won't know if it's a "For Sale By Owner".
Oh really John...... I guess you are being honest, by admitting deception
Well John your Website says it well
"Another problem is that over half of all agents are not very competent (we hate to denigrate the profession, but we are being lenient). Unlike CPAs, doctors or lawyers, there is no college degree required to be a real estate agent. Any high school dropout can become a Realtor if he takes a few easy courses and passes the licensing exam. Incompetent agents lead to problems, wasted time and transactions that never close."
And it Shows.
All commissions are negotiable, there is no "standard", it is against Federal law.. (Anti-trust)
FYI a higher commision will often get your home sold faster as it makes it "stand out from the pack" , which may also lead to a bidding war....
Interview a few agents and see what they offer at different commission rates. Selling your house isn't about getting the lowest commission rate, it's about what level of service will you get for that cost. Let's say you get a cut rate agent to give you a deep discount on your sale and you receive an offer. Now what? The majority of work needed is during the escrow and keeping it together to get it closed. Shady deals and lack of experience can cost you $$$$, wasted time, stress and ruin the the escrow your trying to move into.
It is completely free to the Seller and there is no obligation for the Seller to pick the lowest bid or any bid. The whole time the Seller remains anonymous as we never publish your street address or contact information. Sellers can sit back and review marketing plans, commission bids, ratings and reviews. A big win for the Seller. After all, Agents are not charged to register or bid and they have no obligation to bid. Give us a try: https://www.ListingBidder.com
So yes, there are average commission rates, close to 6%, 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!
Listing a house is not free, Agents spend thousands of dollars every year if not every month in business expenses.
You can break it down like this
A large percentage goes to the broker or listing office. Taxes run on average 20% after all deductions. The average listing of $100,000 to $500,000 cost about $1,500 to $2,000 to list. That includes advertising, MLS, signs, key boxes, appointment scheduling services, printing, computers, car payment, gas, insurance, etc. It is way more expensive to be a Realtor now than it was 15 years ago.
Look at it this way, If that Agent listing your house is going to give up his commission that easily, don't you think he is going to be just as fast to give up your money?
I could go on for hours on this subject but i will just leave you with this, and I know you have heard this a thousand times from your parents, friends and anybody with an opinion.
YOU GET WHAT YOU PAY FOR.
If you have multiple properties you wish to buy or sell, I am confident you will be able to find a full service brokerage willing and happy to assist you at a negotiated rate.
A high percentage of our clients sell their homes without paying any commission at all, because we refer all buyer calls directly to the seller. The math speaks for itself. On a $500,000 home, a flat fee of $495 to list on the MLS through Creekview Realty would result in considerable savings.
This listing strategy gives you the savings of FSBO but with all of the benefits of working with a traditional realtor. As a buyer, you can actually make money when you buy a home, in the form on commission rebates.
Since you are buying and selling multiple properties every year, you could save thousands of dollars with each transaction.
Check out http://www.creekviewrealty.com and let me know how I can help.
You have an excellent question. There are no set commissions and there are some agents/brokers that can negotiate a better deal, but you should be aware that some of the best charge more than 6%. It really will depend on the amount of work you require them to do and the price range you are working. You should be wary of the people who answer quickly without probing deeper. Are you buying 10-$30,000 condos or 4-$1,000,000 apt complexes? Are you going to do all the due diligence or do you expect the agent to do it? Will you located the properties you want to purchase or do you expect the agent to do it? Will you inspect the properties first or bid first? What percentage of the deals you bid on do you expect to close? If the agent is not asking you questions along these lines then they are not worth any discount they might offer you. You may save money on a deal or two, but at some point you will likely pay big for their lack of expertise.
We deal with investors and yes we definitely negotiate commission based on volume of transactions. I feel certain if you interview agents who know how to deal with investors you'll find one to meet your needs that is a win win for both parties.
If you need a reference in the Dallas area let me know. I lived there for over 30 years.