Finding out about local commissions is important.
I show my sellers how much is paid in the area. It runs from standard 6% on regular properties, goes higher to 7% for least expensive properties (45K and below), 10% for land and 8 to 10% on commercial properties. Properties that don't sell usually are those that pay less in commissions.
But, why are we not talking about what will be done to earn those commissions? I mean, the other part is easy: lower commissions = lower exposure & less marketing budget for the property.
The main point is that you got to get your top dollar for your property - with a good marketer-agent you'll get that accomplished, your bottom line will be much better off, even with the standard commission - because with more exposure you'll get more traffic, and more buyers will be competing for your property.
Have agents propose their marketing for you, hire the one that impresses you most - and you'll be happy you paid full commission - because you'll make the most money with the best agent who truly earns her commission! You can even pay a bonus if the agent (usually selling agent, not the listing agent) brings the buyer at certain high price - at the very least this attracts agents' attention.
Hope this helps,
Beachfront Realty, Inc.