Ztins, Home Buyer in 15108

how much are brokers fees and do they vary from realtor to realtor?

Asked by Ztins, 15108 Sun Feb 27, 2011

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7
Benny Smith, Agent, Pittsburgh, PA
Sun Feb 27, 2011
As a realtor in this area you can get a discount broker or full service. Like you can get different price lawyers, doctors and accountants. At the end of the day you will get what you pay for. I will be happy to quote you my rates when you share what you are looking for your agent to do for you. One price does not fit all.
Benny Smith, ABR GRI QSC
0 votes
allan erps,A…, Agent, Pearl River, NY
Sun Feb 27, 2011
All answers below are correct! The idea is to feel comfortable with the Listing Agent, know they are professionals and not "discounting" marketing and other services in lieu of a lower commission! You get what you pay for!!
0 votes
Scott Godzyk, Agent, Manchester, NH
Sun Feb 27, 2011
Commissions do vary from broker to broker, the most important thing is not how low you will pay, but what you will get for what you are paying. You should know that due to antitrust laws, no nbroker can quote you an amount in an online formum such as this or discuss what a competitor charges. You can however contact each broker direct and they can tell you what they charge and what you get for what you are paying.

In this work you get what you pay for, so many times a discount fee results in discount services and in this market where the seller needs an experienced listing broker with an experienced marketing plan, you can not afford to be cheap, a good listing agent will get you the best sales price in teh quickest amount of time mor ethan paying for the listing commission.
Web Reference:  http://www.ScottSellsNH.com
0 votes
Don Tepper, Agent, Burke, VA
Sun Feb 27, 2011
Commissions vary, and they are negotiable.

You'll possibly find a two-tiered approach. Many agents will quote about the same figure (with some variation) for full-service representation. There are also discount brokers out there who offer more limited services, generally for a lower rate. But you can try negotiating with either.

One note: You list yourself as "Home Buyer." If that's the case, then you probably won't pay any commission. The commission is negotiated by, and paid by, the seller. To oversimplify, the seller lists his/her home with an agent. As part of the listing agreement, the seller agrees to pay x% as a commission. That commission generally is split between the listing agent and the buyer's agent. So, by the time you look at a listed property, the seller has already agreed to pay a percentage commission. That amount comes out of the amount you pay for the property, and is used to pay both the listing agent and your (the buyer's) agent.

There can be a few exceptions to that process. For instance, if you find a house listed for sale by owner (FSBO) and the seller absolutely refuses to pay any commission to anyone (unlikely, but it does happen), then you might end up paying your agent a commission. However, all this should be clearly laid out in the buyer's agreement you sign with your agent.

Finally, you won't save anything if you deal directly with the seller's agent. Remember: The seller has already agreed to pay his/her agent a set commission. It doesn't matter if one or two agents are involved; that commission has been agreed to. And, as a practical matter, you're far better off with your own Realtor representing you.

Hope that helps.
0 votes
Laura Feghali, Agent, Stamford, CT
Sun Feb 27, 2011
Hello Home Buyer,
Yes, commissions vary as they are negotiable but in most instances, the buyer does not pay the commission; the seller pays it to his listing firm who offers a portion of it to the buyer's agents Brokerage firm. There may be some instances such as in "short sales" where the sellers are experiencing financial hardship or a "for sale by owner" who does not offer a commission so if you work with a buyer's agent then you might be responsible for paying the fee to your agent's Brokerage firm but your agent should let you know this upfront.
Good luck!

Laura Feghali
Prudential Connecticut Realty
0 votes
Melissa Bark…, Agent, Washington, DC
Sun Feb 27, 2011
The fees vary from broker to broker, since the commission is negotiated between the agent and the seller in the contract to list the home. As a buyer there is typically no fee associated with the use of an agents services (though some brokers charge an admin fee), the commission is paid by the seller not the buyer.

Good luck!
Web Reference:  http://www.wdcmetroagent.com
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Sun Feb 27, 2011
They can vary since commissions are negotiable. As a buyer you need not be concerned with the commission, the seller pays it and so using a Realtor is really a free service to buyers.
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