I have a home for sale on Hide-A-Way Dr. in Kiln. I haven't listed with a realtor yet because of the fees. Are the fees negotiable?

Asked by Kelly Childs, Kiln, MS Tue Nov 30, 2010

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Edith Karoli…, Agent, Winnetka, IL
Wed Dec 1, 2010
Hi, the short answer is that fees are negotiable, but be careful, with every service everywhere else you get what you pay for.... These days most listings stay on the market for much longer than ever before, unless they are in the most perfect condition, location and priced super competitively.... So in other words the listing agents and their brokerage firm have to work longer, and harder with more time and expenses invested in every listing they take, but at the very least on the averages invested in all their listings....

So having to put out all their expenses before the property sells, how could they make a living accepting less fees instead of more fees.... If you pay less, they will market less, they will try to keep their own expenses low as best as they can....Does that make sense?

So depending on your property, and how easy it may be to sell it, because you will very well prepare it, stage it etc. and then accept the most competitive asking price, the listing agent may or may not negotiate a little on the fee...

Good luck to you!
Edith YourRealtor4Life and chicago Connection
Working always in the very BEST interest of her clients
Web Reference:  http://tinyurl.com/MeetEdith
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Frank Dolski, Agent, Lahaska, PA
Wed Dec 1, 2010
Dear Fastalker,
As Ed mentioned, everything is negotiable. But be careful because in most cases, you get what you pay for! Anyone can list your home if qualified but what kind of marketing are they going to do? Are you going to be on 40 plus websites as my clients are? 80% of all buyers are on the internet. Make sure that your agent places you in as many places as possible.
Yes fees are negotiable and the standard is 5-6%. I am a 6% agent and well worth it! Do I discount my commission at times? Yes and that is if someone is also using me on the buy side. But think of it this way. The buyer's agent looking at your home knows the commission being offered on homes that they are showing their clients. So if they are getting 2% versus 3%, which homes would they push? I always look out for the buyer and what is most important to me is that they are happy. So for me, it is all about my clients. Would I send a listing that is offering 1-1.5%. Don't think so!
So, in the end it is haw bad you really want to sell your home and what commission you are willing to pay. And...what services are you getting for that commission. I'll leave you with this thought:
Would you be willing to take a pay cut or less salary for the same job? If so, would you work just as hard? Think about it when you are looking at commission as your biggest decision.
Please feel free to contact me if you have any questions or would like to know that top agent/broker in your area. I have the resources to help you! There is a difference!
Frank Dolski MBA, ABR, e-PRO
Associate Broker
Coldwell Banker Hearthside Realtors
215-794-1070 x103
Web Reference:  http://www.FrankDolski.com
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Ed Barski, Agent, Cherry Hill, NJ
Tue Nov 30, 2010
Everything in life is negotiable but you will find you pay for what you receive. It has been my experience that agents with minimal experience or lack of work will decrease their fees in order to obtain business. Up front this sounds good until you are knee deep in the poo with them and realize they have no clue what they are doing. These same agents also tend to more easily negotiate away your asking price (if they can't protect their money, how will they protect yours) which alone is a mistake that easily can cost you that 1% percent you assumed you negotiated and I would estimate it could cost you an additional 3-5% on top in poor negotiating skills.

Finally, it's important to remember the assumed commission to a buyer's agent is 3% so if you cut the entire commission, you will be offering less which may harm your listings potential of being exposed by the agents that actually have the clients. Why would they "waste" their buyer on your 2.5% when they can get 3% from the majority of homes on the market. Your home will have to sell itself because a buyers agent won't be cheering for their buyer to pick that one. The commission is sliced into a 4 part pie. 3% to the selling company, 3% to the buying company, and each company shares that with their agent on their own split.

If you want to insure you get the best price for your house and save the most money, pick the agent that fights the hardest and holds you to the 6% commission because that same agent will fight for you to get fair market value for your property. Test them at the listing appointment when you interview your three agents and you will quickly find which one will make or save you the most money and it will have nothing to do with commission fees.
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