There is no standard, usual, normal, regular, typical, average, common, commission. And to state that there is puts you in violation of sherman anti trust rules, and opens you (and your brokerage) to potential lawsuits and scrutiny from the Department of Justice and HUD.
All commissions, by law, are negotiable between the consumer and the agent/agency. Now that doesn't mean that each and every agent will negotiate his/her commission. But it does mean that each can charge what they see fit based on the services they offer, and the costs of providing those services.'
This is hammered into real estate agents as Real Estate 101. And for those of you, who are Realtors or agents, who think I, and Ron and Debra are wrong... please show this thread to your managing broker.
Hopefully you know what I am referencing....but that's doubtful.
Legally, there are NO STANDARD FEES.....there are no "typical, usual , expected, normal or standard fees!!!!!!
Seriously - did any of you ever hear about anti trust laws????
ALL commissions are NEGOTIABLE - that's the only legal and correct response to a question about commissions - and to state otherwise can be seen as an attempt at PRICE FIXING, and that's illegal.
You all really need to speak to your Broker....or someone who is knowledgeable at your Board, or at the RE commission in your state for clarification on these important issues..
Jeffrey Ray & Associates
So much has to do with your goals and what you want to accomplish, how quickly and the level of service and marketing you require. The location of your property and the metrics surrounding it are important considerations. If you want to list your property and all you need is someone to put in on the Multiple Listing Service and you handle everything from that point you can get it done for a few hundred bucks. If you want professional videos and full page ads in glossy magazines and the New York Times be prepared to invest considerably more but many properties deserve this marketing to draw the best price.
Even in this market I can show you 3/3 homes in neighborhoods where nothing has sold in 2 years and inventory levels are off the charts while a mile away a 3/3 that is priced right will be under contract in hours. There is a tremendous difference in the work required to successfully sell each of these homes and a seller needs to understand the difference.
That being said you will see the total commission on the sales side of a transaction to be a 5% to 6% range more often than not. If you would like to further discuss your particular situation I would be very happy to be included on the list of RealtorsÂ®. Not only do I proudly serve on Keller Williams Agent Leadership Council I am equally proud that our office sells more homes in Palm Beach Gardens than any other office. As one of the top few producers in our 230+ agent firm I can show you a plan to get your objectives met so please feel free to contact me at your convenience.
Best of luck and if I can offer anything additional please let me know.
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty