I am selling my home and do not know how the percentage works with the agents.

Asked by Saugus, Saugus, MA Thu May 26, 2011

I thought that the selling agent only received a percentage in the sale of a property. I have been told that both the selling agent and buying agent receive a percentage. What do the agents usually receive as a percentage? Also, since I'm both a seller and a buyer, would I expect to receive some kind of a deal? What can I do to yield the most from my sale?

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Louis Wolfson’s answer
Louis Wolfs…, Agent, Needham, MA
Thu May 26, 2011
It is against the law to discuss % amounts of commission. That said real estate fee's are negotiable. Typical split between a selling agent and a buyers agent 50/50 There are real estate companies that take a listing at a low set fee for putting the home in the mls, and offer limited services to the seller. There are menu driven real estate offices, fee for listing in mls, fee if its sold thru mls, fees for showing, fees for paper work.
Check out the agents history as to how long they've been in the business. Are they full time, how many homes do they sell, how long on the market, how close to list price do they sell.

A home priced to sell will sell, and if priced appropriately will have multi offers.

A good agent does not have to cut fees, as they bring much more to the table that will get you more in the sales end and a better price in the buy end,

What community are you considering to move to?

Louis Wolfson
Web Reference:  http://www.LouisWolfson.net
1 vote
Talisa Raffe…, Agent, Boston, MA
Thu Jul 7, 2011
Hi, I live and work in Saugus, MA. I can give you some details if you would like more information on agents in the area as well as up to date market conditions.
0 votes
David Cooper, Agent, Los Angeles, CA
Thu May 26, 2011
My experience tells me if an agent reduces their standard commision to get the listing, thast agent will probably not be able to get you the most yield from your sale. I hire the top selling agent in my area, the one with the most solds, and pay him as much as he wants because this real estate enviornment requires a lot of work and experience to get a decent buyer.

David Cooper! Las Vegas Foreclosure Investor in Bank Owned REOs at 20% off. For Freee Daily List email davidcooper@lasvegaswinner.org or Call +1-7024997037
0 votes
Gary Geer, Agent, Antioch, IL
Thu May 26, 2011
There is no set percentage. Talk to your agent and discuss the commission. As a Seller your agent will be representing you and the commission you pay is to the listing company. If another company produces the buyer the commission you pay to your agency is usually split between them. When you buy a home and an agent represents you in your purchase normally the your agent gets paid from the seller's agents company. If you use the same agent to sell your home and purchase your next home discuss the combination package in reference to commission and see what he can do.

All the best,
Gary Geer

0 votes
Jim Armstrong, Agent, Salem, MA
Thu May 26, 2011
You only pay the agent that lists your home. That agent then splits what he/she receives with the buyer's agent - ususally 50/50.
Whether or not you can get a deal when you sell then buy is up to the agent you choose and how well you can negotiate. I will typically rebate part of the commission I receive to my client if I receive double sales.
0 votes
Ron Thomas, Agent, Fresno, CA
Thu May 26, 2011
Presuming that your System works the same:
Across the U.S. the "normal" commission is 5-7%. That is split first between the Listing Broker and the Selling (Buyer's) Broker. Then. each split is split again between the Broker's and their Agents. You can see that this is not excessive.
0 votes
Molly Mosley…, Agent, Columbus, OH
Thu May 26, 2011
This a great question! The typically percentage in Ohio's market place is 6%. 3% to the buyer’s agent and 3% to the selling agent. Commission is negotiable. I have a program that if my seller uses me on the buying side I can reduce the cost on the listing side. Interview a few different agents and see if anyone in your area offers any incentives to use them. But keep in mind if an agent does reduce the commission that may hinder them from doing certain marketing to help get your home sold. Good Luck!
0 votes
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