What is the typical percent that agents charge for selling th housenowdays? Or is it a fixed amount? We are

Asked by Natusik, Traverse City, MI Fri May 30, 2008

What is the typical percent that agents charge for selling th housenowdays? Or is it a fixed amount? We are thinking of putting the house on the market and are wondering should we do it by owner since we are pricing it real good, or go thru an agent.

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Bay Jackson, , Shreveport, LA
Fri May 30, 2008
You could interview several agents, and their commissions will probably be about the same. Many people are trying to go for sale by owner these days, and there is nothing wrong with that if you are prepared for what lies ahead. Just remember that its a tough market to sell right now, and you could use every advantage in your favor. Listing with an agent will get your home exposed to more buyers than selling it on your own. You could also use some assistance in determining what the market value on your home is. Have the Realtors run some comps for you, or do a formal CMA should you decide to interview. Whether you're going at it alone, or with the assistance of a Realtor, remember how important it is to have a significant internet presence. Best of luck!
1 vote
Mary DeWitt, Agent, Empire, MI
Sat Jan 23, 2010
Wow...lots of answers! Commissions are negotiable and between the Broker and Seller or between the buyer and the Broker! As a consumer you can ask what do I get for my money? You can than decide which broker is providing you with value. Notice I said Broker not Agent...Agents are paid by the broker.
0 votes
Dave Faulkner, , 48430
Thu Jun 12, 2008
In addition to the previous answers, here are a few thoughts about the costs of using a real estate professional to facilitate the sale of your home.

Have you considered marketing costs? (newspaper ads, real estate magazine ads, mailings, virtual tours, etc.)

Have you considered on-line exposure? Over 80% of buyers now begin their home search on-line.

Are you aware of ALL the legal disclosures required in a real estate sale in your locale?

Are you capable of determining the difference between a qualified buyer prospect and a time-wasting tire kicker?

These are a few of the services offered by a real estate professional (even if your home doesn't sell, by the way!) in exchange for their professional fee.

Did I mention that you will, statistically, net more profit with the assistance of a Realtor?
0 votes
Mike Cummings, Agent, Traverse City, MI
Thu Jun 12, 2008
Most of the other posts are correct in what they say. Brokerage fees are generally negotiable, though in many geographical areas there are actually "typical" fees, though Realtors do have to be careful about what they say around potential clients and are NEVER allowed to talk about commission rates among other Realtors. Honestly it is a competitive issue - if your brokerage fees are lower than competing homes in the area, buyers agents are likely to not show your house because they will get paid less. It sounds harsh, but that has been my own experience in the past. To make a general statement, most brokerage fees in the TC area are between 5 and 7% for homes. Contact me anytime if you need further help.
0 votes
Donald Spr…, , 85219
Sat May 31, 2008
Most agents will charge you a commission fee of 6% of the selling price of your home that you have up for sale thru them. And there are some agents out there that charge less than 6%.
You are better off going with and agent rather than trying to sell it on your own. The agent will screen the clients for you as far them being able to afford your home. The way things are in todays world you just don't want to let anyone into your home that you don't know.
There are thieves out there just waiting to get into your home. especially if your selling your home on your own. And agent is your best bet.
0 votes
Toni Dye, , 49686
Sat May 31, 2008
Hi Natusik,

I am a Traverse City Realtor and, as stated below, we are not allowed to discuss the going rate of other companies. I will, however, tell you that as a seller in this market, you are going to need all the help you can get. It's pretty tough out there right now for sellers. The buyers have a lot of good deals to sift through, and generally everyone has a pretty good price on their houses for sale to compete. You will want the marketing ability and the expertise to get your listing out there to any potential buyers and the 800+ realtors selling in this area. I would be happy to talk to you about what our company can do for you in this market and give you an opinion on what your home is worth. Let me know!
0 votes
Hi- Can you reply with your Company name and fee?
Flag Mon Apr 29, 2013
Keith Sorem, Agent, Glendale, CA
Fri May 30, 2008
You should sell it yourself if you can. However you should also know that 86% of those selling without professional representation eventually list with a Realtor.
You should also be aware that "saving the cost of commission" is an interesting reason. If you sell on your own, are you paying a buyer's agent commission? If you are already paying 3-%, then you are really trying to save 3-4% of the price. How much is that?

To put it another way, do you know that the buyer that sees the home they buy sees it with a Realtor 90% of the time? So when selling without professional representation, that means that 5% of the time a seller sells to someone they know, so you are basically dealing with only 5% of the market.

That should not surprise you that homes sold by Realtors average 16% more than those selling on their own.

So, I suggest you interview three Realtors, ask them for an Estimate of Seller's Net Proceeds, and do the math.

Let me ask you, when you buy your new home, are you planning to use a REaltor? Why? Because we work for 'FREE". So don't you think it makes sense to at least look into it?
0 votes
Mary Muldown…, , 32082
Fri May 30, 2008
Anti-trust laws prevent Realtors from setting a 'typical' commission rate.

Mary Muldowney, Realtor Prudential Network Realty, Ponte Vedra Beach, FL
0 votes
Stuart Dobson, , Broomfield, CO
Fri May 30, 2008
The official answer is 'all commissions are negotiable'. This is a touchy subject with most Realtors and its difficult to give a straight answer without running afoul of the Dept of real estate laws.
Web Reference:  http://www.stuartdobson.com
0 votes
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