Are there brokers that offer 3% commission?

Asked by Jill, Yonkers, NY Tue Feb 14, 2012

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Donald Mituzas’ answer
Donald Mituz…, Agent, Chappaqua, NY
Tue Feb 28, 2012
Brokers commissions are negotiable. I'm sure there are brokers who will list your home for 3% or even less. I am of the opinion that you get what you pay for. I have seen brokers that offer a flat fee to list your home in the MLS, offer a commission to a cooperating broker and then you go to work. That means you schedule showings, do your own open houses and a lot more. Many even have you doing the negotiating which can be a big mistake. Good luck.
Donald A Mituzas
Licensed Associate Broker
Prudential Douglas Elliman
New York's #1 Broker
Web Reference:  http://www.nyhomeseller.com
1 vote
Jill, Home Seller, Yonkers, NY
Sun Feb 2, 2014
We sold last year with click it mls by ourselves and paid a 2% commission to the buyer agent.
1 vote
Consumers are becoming more sophisticated and finding alternatives that did not exist before.
Flag Wed May 27, 2015
Good job. Did you have a lawyer and did you help with any other fees? Regards,
Flag Mon Feb 3, 2014
Richard Arias, Agent, Pleasantville, NY
Fri Jan 24, 2014
The truth of the matter is Real estate has changed so much that statistics provided by the National Association of Realtors say 85% of all homes sold are not sold by the listing office and 84 % of buyers found the house they bought over the internet first before they contacted an agent. In essence technology has taken over allowing consumers access to homes for sale virtually without anyone. Real estate offices are having trouble adapting to this paradigm shift taking place because it threatens commission structures and office agent compensations. Home Finders Real Estate is an example of a full service brokerage company in business for 30 years. Charging a straight 3% commission while offering all the traditional services. www. Homefindersrealtor.com

Slowly, consumers are growing more sophisticated & savvy as to how keep more of their profits than falling for the old fashioned sales hype. The industry is experimenting with all different business models but consumers at the end of the day simply want a fair deal with expert representation.
1 vote
Lisa Lauer, Agent, Maitland, FL
Sun Oct 7, 2012
Yes there are excellent real estate brokers who offer 3% commission. I am one of them. My company is buyplaceflorida.com and I am a full service real estate company in the greater Orlando, FL area. I have over 25 years of real estate experience. Actually less commission can mean more results.
1 vote
David, Home Seller, White Plains, NY
Wed Feb 29, 2012
Frank, Isn't your answer redundant of the previous one? Why do some agents answer questions posted with the same answers that have already been posted? Is this an attempt to get the "all important" VIP designation?
1 vote
Anna M Brocco, Agent, Williston Park, NY
Tue Feb 14, 2012
Commissions are always negotiable between you and your agent, there are no set standards; therefore interview in person a few local agents from different realty companies, then choose the one you like best, and who has the most to offer; choose you agent with care and not by commission alone.
1 vote
Scott Godzyk, Agent, Manchester, NH
Tue Feb 14, 2012
Jill the problem in Real Estate is as with anything else, you get what you pay for. Paying less can mean less service, less advertising and less marketing which means less of a chance for a quick sale at teh highest possible price. A good listing agent will more than pay for their service by getting the fastest possible sale at the bets possible price which beats a discount price by trying to save money that ends up cvosting you in the end,
Web Reference:  http://www.ScottSellsNH.com
1 vote
Bringing superior and increased service for less is how you define a great real estate company. Statements such as" you get what you pay for" is a simplistic point of view and contrary to todays digital marketing with consumers paying more all the while getting less.
Flag Wed May 27, 2015
UpNest, Agent, San Francisco, CA
Thu Jan 19, 2017
Yes, there may be brokers out there who offer 3% commission but you need to know where to look. http://www.UpNest.com is a good platform where you can consult with realtors in your local area and compare fees until you find the desired commission rate you're looking for.
0 votes
Stuartmccoll, Home Buyer, Yonkers, NY
Mon Jan 16, 2017
what realtors in santa clarita charge 3% commision
0 votes
dploves2sell…, Agent, Woodbury, NY
Mon Apr 27, 2015
I am sure you can find a Broker that offers a 3% commission, but make sure you understand the terms of your agreement. Is your listing an Office Exclusive or an Exclusive Right To Sell? How much is the cooperating Broker getting paid? Broker's commissions are negotiable, just make sure you totally understand the terms and conditions of your agreement.
0 votes
Mark Kremer, Home Buyer, 93546
Sun Apr 26, 2015
0 votes
Christopher…, Agent, Tarrytown, NY
Sun Feb 2, 2014
Please keep in mind you get what you pay for. A reduced commission like that usually means a reduction in some service, communication, or marketing. Are you willing to compromise on any of those?

Chris
0 votes
Agents naturally want to earn the most commission possible. However, real estate is being revolutionized empowering consumers thru digital marketing. There is no need to pay more for superior service. What truly counts is agent competency and the ability to incorporate the latest technologies to benefit the client.
Flag Wed May 27, 2015
Tony Murphy, Agent, Yonkers, NY
Sun Feb 2, 2014
Like most things in life you get what you pay for. If getting top dollar is the result you want then a full service broker is the best choice.
0 votes
If getting top dollar is important as it should be, A seasoned experienced realtor is your best choice. One that provides you with substantive advice based on factual market statistics.
Flag Wed May 27, 2015
Gerard Carney, Agent, Spring Hill, FL
Wed Feb 29, 2012
Cutting commissions may look good as far as the dollar amount you get when you sell the home, but cutting commissions only closes your property out to buyer agents that usually show and sell the home.
0 votes
If agents are only showing homes based on how much the commission is, they won't be very successful agents. As consumers find the home they want on the internet before contacting an agent. A good agent should always have the client interest first.
Flag Wed May 27, 2015
Weichert Rea…, Agent, Watchung, NJ
Tue Feb 28, 2012
"The way to save at least half of the realtor's commission is to list with a flat-fee broker who will list the property on the MLS (Multiple Listing Service) and Realtor.com but who does not show the property."

Remember, that Broker will not hold an open house or any other thing that I would do for you. Good Luck! Regards,
0 votes
Mike Vazquez, Agent, West Chester, OH
Tue Feb 14, 2012
Jill,

Search hard enough and you will find what you're looking for. Call and talk to several different brokers. Much like home sellers, you'll find many offering equal things for widely different costs.

I love the line you get what you pay for. Tell that to the mom that buys the same bread at the store with a coupon instead of without, or the guy spending his moring in the service dept of his luxury car dealer.

Good Luck!
0 votes
It's so true! A cliche "you get what you pay for" rather than offering truly sound advice to consumers. Knowledge is power! And sales can be just sales, Focus on experience, integrity and intuition. To measure an agent or company's worth by how much you pay is plain silly.
Flag Wed May 27, 2015
Robert D Hug…, Agent, Devon, PA
Tue Feb 14, 2012
Yes Jill all commissions are negotiable. However you need to evaluate what you are receiving for the fee. I as a business man look at the over all picture. If I am guaranteed additional transactions from that individual or referrals they give me currently, I am inclined to work out a suitable commission arrangement. All of my clients receive the same service no matter what the pay.

The type of agent you should seek is one that puts your needs above their own. Every agent has to negotiate the way they see fit with their fee, does not mean you have to accept. EG. We have agents in my locale spending a lot of money on magazines and newspaper ads. This is a complete waste of money in which they will convince you promotes your property. How many people do you know personally Jill who either buy newspapers or pick up Homes magazines these days?

The agent you choose, your local Multiple Listing Service, and Internet exposure are the keys to selling Real Estate today. You might want to consider a 4% fee so the listing agent can offer a 2% co-op fee to any selling broker. That way you receive the best exposure and save money as well. You do not want to discourage other agents from showing your property.So the listing agent has to take a serious cut if you only agree to a 3% commission when another agent needs to be paid. If your listing agent sells the property themselves, 3% could be doable. However the majority homes sold are through cooperating agents.

Best of luck to you Jill, we all want to save expenses today,

Rob
0 votes
Weichert Rea…, Agent, Watchung, NJ
Tue Feb 14, 2012
Are you looking to buy or sell in New York? Regards,
0 votes
Phil Rotondo, Agent, Melbourne, FL
Tue Feb 14, 2012
Commission fees that are charged are negotiable.
You should contact a few in your area to see; and you should also consider the service you would be getting for the amount charged.
Web Reference:  http://www.321property.com
0 votes
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