realtor commission in Lancaster County, Pa?

Asked by Bawitmer1, 17522 Fri Oct 23, 2009

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9
Edith Karoli…, Agent, Winnetka, IL
Fri Oct 23, 2009
Dear Bawitmer1,
I am not a Realtor from your area, but here is my suggestion...
Talk to a few Realtors in your area from different brokerage companies, they will tell you what their
marketing plans are, what they will do and what they will not do, and they will also let you know what
their commission percentage is - which will actually be part of the listing agreement.....
Only then will you know for sure, because like other Realtors said before it is negotiable, but I always say
negotiable to a point, and then I am sure you have heard before "You get what you are paying for", may be
may be not, but it is truly best to talk directly to a Realtor, as if and when you want to select one, you want to
make sure that it is a Realtor you communicate well with and you feel that he or she is a good fit for you and
you will work well together....

Good Luck to you
Edith Karoline YourRealtor4Life! & your Chicago City and N and NW Illinois Expert
Working always in the very BEST interest of her clients....
EdithSellsHomes@gmail.com
2 votes
Howard Urbine, Agent, West Grove, PA
Fri Oct 23, 2009
Speaking as someone who has no interest in an Ephrata listing as it is outside of my marketing area, let me lay it on the line for you. Much of what was said is partly correct. Commissions are negotiable but SOME brokers won't allow agents to take a listing under 6%. I won't mention any names. Negotiable also goes for the agent's share of the half his broker gets. If I was only getting one quarter of the total, I would not be paying for signs, advirtising etc, the broker would. If I pay for it all, I get nearly all of the half that comes back to my office. It is called the 100% commission plan but the catch is you must pay your office a monthly fee whether you sell anything or not as well as most of your operating costs. It is a flat fee for the most part no matter how much you sell. Busy agents always make out better with this plan. If they didn't, they would change compensation plans or brokers. Some brokers don't offer this kind of plan and therefore their agents hands are sort of tied as to what listing commission they can negotiate. I can negotiate any commission. I could list your house for free if I wanted, but if fair compensation was not offered to the buyers agent, no showings would come in.

While I dream of the 8% listing, it almost never happens. I see it a few times per year. 6% is very common, 5% a little less so, while 4% is even rarer than 8%. I don't need to be greedy but I have to make a fair living. If I couldn't, I would just get a different job. I could never even ask for 8 and only 7 if the competition was just too stiff and there were 10 other homes exactly like yours and you wanted a slight edge over the competion. I wouldn't take a listing at 4% either. Price is the real way to sell a home, appeal to the buyer, not the agent with an inflated commission. Just last week I sold a house that offered the buyers agent 3% with a $1500 bonus. I gave the bonus to the young couple buying their first home.

As far as listing a home, I come from an office that is the leader in my area. I know the company line about listing with the biggest office and getting your home sold. That is propaganda. Do you think a buyer working with company A isn't going to buy a home listed with company B. It is all about the listing agent and what they do to market your home. A buyer working with any good agent is seeing all the homes on the MLS whether they are listed with the smallest 1 man band broker or the biggest around. It is an equal playing field for the most part. No one cares where the buyer comes from as long as he comes. YOU and the listing agent make or break the listing by what you do to market it. Internet is king. You need a listing with lots of good pictures, a good description, a sign out front with a brochure box, a real virtual tour (not just the pictures in a slide show with a voice over), presence on all major web sites, etc. Print advirtising is just to satisfy the seller who is happy to see his home in a paper. All brokerages do it but almost nothing comes from print and what does, doesn't justify the cost. That money should be spent on the internet. For your part, you need to make it easily and quickly accessable, clean, and most of all priced right.
1 vote
Bill Remore…, Agent, Lancaster, CA
Tue Dec 18, 2012
"all commissions are Negotiable," call me to discuss.
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Fri Jun 15, 2012
due to federal anti-trust laws, agents should not discuss commission rates in a public forum.....it might appear as though it is an attenpt to price fix...........afterall, if one says: "I get X %" and another agent reads that, and was getting less......they might now think to themselves....."Heck, I should raise my commission and get what "they" are getting"........So.....the only politically correct response...is that ALL commissions are negotiable.

Actually, it's not just a PC response.............commissions ARE negotiable.

I alway chuckle to myself when I see agents state what the "customary, usual or typical" commission is, as though it is carved in stone..........it isn't........this type of discussion is best had when speaking one on one with an agent.
Then speak to several others if you really want to compare marketing plans and rates.

Be sure you are looking at what services and marketing will be offered, and not just who will offer you the lowest rate.

I don't care for the overused phrase, "you get what you pay for", as sometimes you do...and sometimes you don't.............just because someone charges a higher rates does not mean they are the best or that you are getting the most ............so be astute and see what exactly you will be getting and what materials and internet presence will be used to sell your home.

Best wishes..........
0 votes
Burnell Burk…, Home Owner, Ephrata, PA
Fri Jun 15, 2012
What is your average commision %?
0 votes
Bill Remore…, Agent, Lancaster, CA
Fri Nov 13, 2009
I'm a Realtor serving Lancaster Co. I've been selling homes for nearly 20 years , raised a family in Lancaster Co.

My commission varies with the business climate, the listing location and if the Seller is also buying a home. I will not negotiate a commission until I've seen the property for sale and met with the Sellers.

Bottom line, all commissions are negotiable and I am willing to negotiate.

Bill Remorenko
Weichert Realtors Professional Partners
http://www.ebillr.com
billr@ebillr.com
Web Reference:  http://www.ebillr.com
0 votes
Your web links direct me to a Chinese(?) pill site?
Flag Mon Nov 14, 2016
Your web links direct me to a Chinese(?) pill site?
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Dallas Texas, Agent, Dallas, TN
Fri Oct 23, 2009
Each agent has their own business practice and different based on broker obligations. You would need internview agents determine exactly what they offer for what %.

We list homes as a flat fee, offer full service and more.

My practice is different other professionals in trade

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

http://www.lynn911.com
0 votes
T, Renter, Pennsylvania
Fri Oct 23, 2009
As you may already be aware, it is the seller who pays the commission for both the listing agent and the buyer's agent. That concept is reflected in the price of all of the homes for sale in the County. Sales commissions are split up into four parts to compensate all of the professionals who are involved in the sale transaction (which may be upwards of 20 - 30 people). The listing broker (company) gets approximately 1/2 of the total commission and the buyers broker (company) gets the other half. Each half is further broken down so that the listing agent gets approximately 1/2 of the listing commission or 1/4 of the total and the buyer's agent gets approximately 1/2 of the buying commission or 1/4 of the total commission.

Since agents are subcontractors of the brokerage or Real Estate company they work for, they are further responsible for their MLS fees, Realtor membership fees, designation fees, etc. Each Realtor is essentially running his or her own business and so must also pay for the marketing expenses of your home when it is for sale. All of this means that if your home sells for $200,000 and your agent works on an 8% commission that the total commission paid to all the professionals involved is $16,000. The listing agent would get about 1/4 of that amount which is $4,000. Of THAT amount, he or she would pay for all of the marketing for your home including advertising, running their web site, Open Houses, mailings, signage, travel to and from your property, MLS fees, etc. Anything left over is the agent's profit.

Commissions by Broker (company) vary and will generally range anywhere between 4 and 8% of the selling price of your home. Agents within any particular company will negotiate their own commission rates. There is no 'standard' commission. In a somewhat depressed market like we are in right now, due mainly to a credit crunch more than anything, there is a surplus of homes on the market. It is now what is considered to be a buyers market. Therefore it becomes most important that your home stand out from the crowd to get noticed and sold. That means more agressive marketing is necessary if it is YOUR home that is going to sell. That also means more marketing expenses to ensure your home sells.

There are discount brokers and full-service brokers. Especially in today's environment, make sure that you use a full service broker. Most people selling their homes recognize the importance of having all the services possible to sell their home. That is the reason that companies like Prudential Homesale Services Group in Lancaster County actually gain market share in slower markets. Prudential HSG now completes over 36% of ALL real estate transactions in Lancaster County. Their next closest competitor completes 9% and it goes down from there. This is according to the listing of the top 10 brokers in Lancaster County from the Lancaster County Association of Realtors Multiple Listing Service.

Biggest is not always best, but in real estate, it helps. Going with the broker that completes the most transactions means that you are going with the broker that has the most buyers as signed clients. that increases the chances of your home selling.

If you have any other questions about buying or selling a home, please feel free to contact me on my cell phone at 717-371-5007.
Web Reference:  http://www.GerryBeane.com
0 votes
Bill Eckler, Agent, Venice, FL
Fri Oct 23, 2009
The "fee for professional services" is negotiable. You may be able to identify an agency(s) that will offer discounted rates but be certain that you ask for a written marketing plan for your specific property. A good marketing plan should far exceed putting hour home on the MLS and sticking a sign in the front yard.

If you are a serious seller, you deserve a full time professional agent and agency commited to the highest degree of customer service.
0 votes
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