We are all independent contractors, we are not told what to charge a client to list a home by our Brokers, it's negotiable. Our RE/MAX of Santa Clarita office let's each agent set the commissions on it's listings. If an agent tells you it's set by their Broker, run! Everything about the CA Residential Listing Agreement is subject to negotiation ie; how many days you would like to have it listed for, price, how it's shown, length of escrow, rent backs etc.
If the property is on the higher end some agents will tell you they will not take less then 3% to list for their commission due to their marketing expenses and their sphere of buyers they personally have, you could expect to see 3% list agent, 3% buyers agent totaling 6% . On entry level homes and condo's you may see anywhere from 2.5%-3% a total of 5% for both commissions.
Bottom line it's up to you and your Realtor to come to a mutual agreement on what you would like to offer for commissions.
One last frequently asked question by both sellers and buyers I hear all the time is; who pays the commission in a transaction? The seller of the property pays for both sets of commissions, because the seller is paying the buyers agent to bring a buyer to the listing.
If you would like to learn more about the services the Ricco Sells Home team from RE/MAX of Santa Clarita offers all of our sellers give us a call 661.803.2093, we also have references that we can provide. Take to look at our website, especially our seller's page it gives you an idea what it takes to get a home sold in Santa Clarita Real Estate market, see the link below.
- Jennifer Ricco
1. Bravo Alan!!!!
2. "Oy" to many of the responses - I cringed as I read them
3. To many of you - please read up on ANTI- TRUST laws asap!
4. to those who knew enough to say: "All commissions are negotiable" and then put a PERIOD on their sentence, without any caveats.....good for you !
4. ditto what Alan said
Marlon - agents really can't (although some don't understand this) discuss specific commissions, especially in a public forum. You see, it can be seen as an attempt to set prices......EVEN if there was NO intent to do so.
The mere hint of saying commission X or Y is "standard or typical or usual" might cause someone else to alter what they charge, and implies there are industry "standards".
There are no set fees, and each agent and/or their company can decide what to charge.
You really need to speak one-on-one with a few local agents.
Ask for a written marketing plan so you see what they will be doing on your behalf.
And, as far as the "you get what you pay for" mantra some use.....that's not always true - sometimes you do not get what you pay for (know any agents who charge "full" commissions but aren't very good - post terrible photos, don't return calls promptly? etc - well, I do)........
So you need to interview, ask questions and see it all in writing in order to compare and contrast what is being offered to you..
So the agents who've stated that "the average commission is usually X%", or "should receive no less than X%", or "they will not take less then X%", are just patently wrong and potentially violating the law by saying so.
Commissions are negotiable (by law). Now, that does not mean that each and every agent will negotiate their commission. Each of us determines how much we need to charge (to make a living) based on the services we offer. There are agents who offer fewer services, and others who go over the top, and their rates will vary... even within the same agency. Some will negotiate... some will not. But there is no "current, standard, normal, average, usual, regular, going" rate. Period.
Interview a number of agents, and ask them what they charge, and what services they provide based on those services. Make your decision accordingly.
Please keep in mind you get what you pay for. I would interview 3 to 4 agents to find out their commission scale, experience, and marketing strategy. You can hire a discount broker but you will get discount results.
I charge a fair commission and get my clients results. My online and offline marketing techniques are some of the best in Santa Clarita. My last listing sold $50K over list and the one before that for $25K over list. You get what you pay for. Choose wisely and do your research.
PS: You are doing a loan mod or short sale it should cost you absolutely nothing.
Like it was mentioned by other Realtors- commissions are negotiable. Are you interested in selling? Would you like a free estimate of current market value on your property? Contact me directly at 818-903-2040. Or, visit http://www.getlosangeleshomevalue.com
I sell in the Santa Clarita area.
Direct phone 818-903-2040
dre license #01712757
There are many companies who charge less, but most of them generally also offer a reduced service level. Interview several local reputable agents/brokers and pick the one who suits you best.
Lance R. King
King Realty Group
License # 01384425
There are no set fees real estate regarding commissions. Everyone charges something different depending on the services they offer. Make sure before you hire real estate agent that you understand what their idea of "full service" is. It's amazing to me how some of my fellow colleagues use that term and do absolutely nothing to promote the sale of your home. The old saying that you get what you pay for is true. Make sure you're getting value for your dollar and higher the person who you feel is best suited to help you get from point A to point B in the real estate transaction.
Best of luck,
Tony Lewis RE/MAX of Valencia
Cell - 661-510-7975