Great Question: There is NO set fee for listing your property, the norm however is 6 to 7 percent. The commission rate REQUESTED varies from company to company as does the services preformed for the fee. There are companies that will list your home for as little as 3.9% commission and will place your home in the Multiple Listing Service. In most cases this is the ONLY service performed. Some companies use this lower (Limited) rate as a teaser to induce business as well as inducement to offer a full service product at rates of 6 to 7 percent.
This is where the old adage rings true: "You get what you pay for". If you think having a Realtor sell your home is expensive, "Try having a Bad Realtor sell your home".
My Tips are:
1) Consider the Agency that will be listing your property (The More Notable the Better)
2) Consider the Realtor that will be representing your Interest (Hire a FULL-TIME Realtor)
3) Consider how your home will be marketed (HOW are you going to sell my house)
4) Know that homes are taking a little longer to sell due to the down turn in the economy
5) Pay a fair wage (Fact: homes with Higher commissions and bonuses are shown more often increasing your opportunity to sell)
This is probably not what you want to hear but I hope you find this information useful. If you have any other question, Please contact me directly.
Broker, Training Manager
Century 21 American Properties, Inc (South)