What commission rates are agents charging?

Asked by Bill White, Thu Dec 2, 2010

Help the community by answering this question:

+ web reference
Web reference:

Answers

15
Daniel Tate, Agent, Davie, FL
Sat Dec 4, 2010
I mostly see 6% comission which splits: 3% for buyer's agent and 3% for listing agent.
0 votes
Nicole Marks…, Agent, Boca Raton, FL
Thu Dec 2, 2010
Hi Bill. The total commission varies between a total of 5%-10% depending on the seller. Generally, though, it seems that a total 6% commission is what I mainly see.

Nicole Marks Mason, Realtor
Web Reference:  http://www.buysellboca.com
0 votes
Brandon Nels…, , Charlotte, NC
Thu Dec 2, 2010
All commissions are negotiable.
0 votes
Lisa Feltrin…, Agent, Deerfield Beach, FL
Thu Dec 2, 2010
I would agree with the majority of answers - interview a few agents. But I would say majority will charge 6% and split that 6 between the selling agent if applicable. Today - much work needs to be done not only to attact a buyer but to make sure they are qualified and stick to the decision of purchasing your home. There are a lot of incentives on foreclosed properties so agents today truly work harder than ever these days. Please contact me with any questions 954-553-5546 or http://www.gotoreo.com
Have a great day!
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Dec 2, 2010
Commissions are always negotiable between the seller and his/her agent, there are no set standards as it would be against the law--if two agents are involved in the transaction, the commission is shared. Interview a few agents from different realty offices, and then choose the one you like best and has the most to offer--choose your agent with care.
0 votes
Dustin Miller, Agent, Coral Springs, FL
Thu Dec 2, 2010
Depends on the agent/brokerage, but typically in our area (Coral Springs) around 6% is the norm. One thing to also consider is the person who you hire (personality, responsiveness,etc) and of course their marketing plan for a home.

Some agents who discount their fees might do so because they do very little market your home (not always though) and/or they lack professionalism or have terrible customer service. To have to make several calls or emails to get a hold of your agent and not being kept in the loop when selling is nerve racking. Sometimes you will get what you pay for so just make sure you measure the "value" of who you choose rather than just the "cost"...they are very different!

If you have any further questions please feel free to contact me if you like as well. I work in the Coral Springs area also or visit my website at http://www.dustinrm.com for helpful info when selling and also past client tesimonials if you are indeed looking for a good local agent

Dustin Miller
Web Reference:  http://www.dustinrm.com
0 votes
Bette Abrams…, Agent, Coral Springs, FL
Thu Dec 2, 2010
Good morning Bill...

There are many brokerage firms that are not "full service" firms...in a case like that, the agent will take your listing and put it on the MLS for a fee...that's usually the end of that. They don't negotiate contracts or speak with buyers and/or sellers. Those are known as discount brokers. I would imagine that any buyer, or seller wouldn't want to go to a "discount doctor"; therefore, commission is based on several things. It isn't set in stone and there is no "fixed" commission rate. I have had repeat clients that I have given a commission reduction to, and then I have had commissions, (recently, as well) that have been 10% and 8%. Each of these sales had offers within a week.

Also, the commission is split four ways...the broker and selling agent, and the broker and listing agent. Just remember that all the work really begins when the contract starts. I'd love to help you find a home. Feel free to call me for any questions you might have about the market.

Bette Abrams
Coldwell Banker
betteabrams@aol.com
954-303-5158
0 votes
David Midkiff, , Coral Springs, FL
Thu Dec 2, 2010
Hi Bill,

Commission rates are determined by the broker and not usually the agent. They do vary, however are sometimes negotiable under certain circumstances. One typical time is when the agent who has listed the home has also brought the buyer to the table. The percentage charged encompasses a great many factors. Many times a listing agent will spend months trying to successfully close a deal and often times can't, through little to no fault of their own. What may seem an easy transaction can be frought with major issues as the layers of the onion are peeled away. The broker realizes that just because someone avails themselves as a buyer or a seller, that doesn't mean the deal will close. All of these glitches are averaged into the cost of doing business. With the time spent to court the seller for the listing, the time spent to attract a buyer, this doesn't mean success. A good percentage of time, effort and money are spent these days with no success. Please remember, most agents are not rich, just harding working like yourself.

I wrote a book on the topic of buying and selling homes in a challenged market. Feel free to visit my website at http://www.buyrightsellsmart.net If I can help you Bill, I've lived in Coral Springs for years, now live in Ft. Lauderdale. I recently listed a short sale on the east side, sold a substantial home to some buyers from out of town, also on the east side, and worked with developers for years building several communities within the city. Check out my website than call me, 954-270-4134. Take care Bill and good luck to you.
0 votes
Ana Huffer, Agent, Cooper City, FL
Thu Dec 2, 2010
Hi Bill,

In Broward County, commission is usually 6%, which is split with the buyer's agent, if there is one. However, I have seen commissions of 5% to 5.5% on some houses, especially foreclosures.

I'd be happy to answer any of your questions, please feel free to contact me.

Ana Huffer
Galleria International Realty
(305) 951-7201
AnaHuffer@att.net
0 votes
Scott Godzyk, Agent, Manchester, NH
Thu Dec 2, 2010
Bill no agent can discuss commission in an open forum, it against federal law under anti trust, your best bet is to contact an agent or agency direct, and ask what they charge. They can tell you 1 on 1 what they charge but can not discuss what others mya charge, or what agents in a specific area charge. Any agent quoting exact commission really should go see their managing broker for advice as it is against the law, I know it makes it harder to compare rates, but you should also ask what you get for what you pay, those that charge less often offer less, unfortanately in the world you get what you pay for with most things, good luck with your sale
0 votes
Antonio Vega…, Agent, Saint Cloud, FL
Thu Dec 2, 2010
Commissions are negotiable. See what several agents are offering and compare their rates. Keep in mind that the commission is a small percentage of the sale price and using the commission to keep the listing price low is not a wise move.

I bet you don't visit your doctor and ask to get private room, newest meds, fasted cure and then tell them "but i want you to reduce your visit rate".

Tony Vega
Charles Rutenberg
0 votes
Loridana Gal…, Agent, Coral Springs, FL
Thu Dec 2, 2010
5.50% - 6 do you need help selling your home? Please call me if you do 954-461-7149.

Thanks
Lori
0 votes
Phil Rotondo, Agent, Melbourne, FL
Thu Dec 2, 2010
The broker usually has benchmark guidelines for the professional fee that is collected at closing. The professional fee is negotiable between the company and the seller; and based on separate factors....such as:
Market value of the listing
Motivation of the owner
Type of property, (Improved/Un-improved, Residential or Commercial)
Competition
Web Reference:  http://www.321property.com
0 votes
Dottie Reuni…, Agent, Bristol, TN
Thu Dec 2, 2010
That would depend on the Agent's office. If all the Brokers would get together to decide on the same commission rate, then that would be called price fixing, which is not allowed.
0 votes
Russell Henn, Agent, Orlando, FL
Thu Dec 2, 2010
Commission are negotiated between the broker/agent and the seller.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more