Overcharged would be one word for it .... we could also use shameful, disgraceful, plus it was probably illegal and a criminal act.
You won't be the first one that got their head taken off by a realtor .. but before we let the Guillotine drop, did you read through your settlement sheet.? .. maybe property bought outside Ohio, taxes due or past due..?
Most agents get 3 to 7%, some with a straight face will even ask for 8% ..l.o.l.. but 26%.?
You should have had a contract with terms explained to you before you listed the property for sale. $8,500 for a house that sold for $32,000 is extreme --- if that is the commission portion of the sale. If an agent came to you with these terms you should have kicked him/her out the door and called someone else.
Please realize, however, that there are also title fees, taxes, county fees, and other factors that can lower the net proceeds to the seller besides the real estate commission. Your HUD Settlement Statement will account for every penny of the transaction. Remember, property taxes are paid up through the day of settlement, and they can be a big deduction.
I am not a real estate agent . but I can tell you from my past dealings with them that they in general
"know" that the lay person does not understand what they are really saying so it will cost YOU . So my
suggestions would be to contact the State of Ohio website on real estate agents liscensing and report
this .Also hire a lawyer and if you can't for this sale then in the future always use a real estate lawyer
to explain to you what you are signing . Realtors will be the first to say "They are not Laywers" they will
not give you honest answers expecially when a deal is in the works and I have found having sold
4 homes in my lifetime that they always work for the buyer even if they are supposed to be your
agent. Don't trust any of them ever again. NO matter how nice and professional they seem .
I think to be fair we need to know more about your situation.
What did you contract the selling commission to be?
What was your house worth (Fair Market Value).
Any other pertient facts...
Mary Starkey's comment is correct. Look closely at the second page of your HUD1 settlement statement which will break out all of the specific costs to you into categories. If you did not use a HUD1, you did get a closing statement of some kind. If the costs are not itemized, call the person who closed the transaction for you and ask for details on the specific costs that you were charged.