Our realtor was to auction our house but it didn't sell.Now we are selling the usual way and his commission is still the same 10%? is this?

Asked by Katyc, Ohio County, WV Wed Dec 21, 2011

normal? We just think this seems high.When it was to be auctioned the 10% seemed reasonable but now the price being a set price that will only stay the same or mostl likely decrease,that percentage doesn't seem as reasonable.Could this just be his normal rate or is it because of the origional contract as an auction?

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3
Annette Law…, Agent, Palm Harbor, FL
Thu Dec 22, 2011
As others have stated clearly and correctly, all commission are negotiable. There is no standard.

It would be important for you to consider the following in regards to the sale of your home.
The professional fees to which you refer can only be meaningful in light of the sold price.
Do the math on a home selling for $40,000 and one selling for $100,000.
At lower price points the professional fees must be adequate to offset costs. Without this flexibility in compensation, home owners in lower price points will simly be unable to benefit from the professional services real estate agents provide.

Higher price points are not under this pressure. Your situation will dictate what your next action should be. A heart-to-heart with your agent is the very least you should do.

Thanks for sharing your auction experience. Other home owners who listen to this option need to hear about your expereince.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Dec 21, 2011
Commissions are always negotiable between you and your agent, there are no set standards as it would go against Federal Laws/price fixing; discuss compensation directly with your agent before signing any new agreement.
0 votes
Ann Ryan, Agent, Doral, FL
Wed Dec 21, 2011
All commission rates are negotiable. However, if you've already signed a listing agreement with the agent that states 10%, you're bound to that for the duration of the contract.

Why didn't the house sell at auction? Was the minimum bid too high? Have you checked out comparable properties in your area? You need to have a serious, and HONEST discussion with your agent about sales strategy going forward. Remember, 10% of a zero dollar sale is zero. Both you and the agent will reap the rewards if you get the right price, and get the home ready for sale (perhaps even staging it if necessary).
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