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Realtor's commission

Did you negotiate your realtor's commission? Mine just suggested 6%. I can do better than that, right? Any tips on getting that number down? This will be my first time selling.

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orangeorbie

Asked by orangeorbie at 12:15 PM on Oct. 26, 2008 in Home & Garden

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Answers (5)
  • MINE GOT 4%
    myboogiewoogie

    Answer by myboogiewoogie at 12:24 PM on Oct. 26, 2008

  • I've sold real estate for 18 years, and I was flexible, depending on the situation and the Seller. If the seller was very easy to work with, and open to suggestions and work towards doing things to help sell (keep the place looking good, clean, etc), then I was more likely to bend on the commission. It wasn't anything put in writing....the duties of the seller for a reduced commission...I could just tell by conversation if they were going to be a good Seller. Then of course you get the weirdos that you want to charge 12% !! haha. When all was said and done and they would come up short on commission I would take something else. I took a car. I took 3 ponies. I took antique furniture. It's all wheeling and dealing.
    EireLass

    Answer by EireLass at 12:32 PM on Oct. 26, 2008

  • I usually interview 3 agents and try to negotiate the lower one. Also, I would suggest asking friends who they used, etc. I have gotten a high sucess doing this. I've sold 2 houses and the first one was another twin mom trying to start up her real estate business. She gave me a great rate. The second one I used had sold me the house I was trying to sell. I switched agents after 6 months and found out with the second guy I used that she wasn't giving me such a great rate after all.
    Also, the second person was with ReMax. 90% of my house showing with them.
    The next time we sell a house we are going to use ReMax.
    Kitricia

    Answer by Kitricia at 7:56 PM on Oct. 26, 2008

  • You can negotiate but be careful... you get what you pay for a lot of times... There are agents out there who won't show properties if the commission is too low and they won't make anything off of it. When I was selling houses I would negotiate but never took any lower than 5.5% my broker just wouldn't approve it unless there were special stipulations. It cost a lot to advertise, lockboxes, open houses and incentives to get people in (drawings and raffles and such...) So... although, I could not come down on my commission I did a LOT other agents could not do simply b/c I had a little extra money to spend in the budget and it seemed to get the properties moving....
    toddsruby

    Answer by toddsruby at 11:16 PM on Oct. 26, 2008

  • First of all, just because the commission is lower, it doesn't mean you'll get more money in your pocket.


    If you get an agent who charges only 4%, but is a poor marketer and negotiator, it may sell for 10% under asking price. Get a good agent, pay them 6% and they market better and negotiate an offer 5% under asking price.


    On a $100,000 home, you'd keep $86,400 with the lower commission and $89,300 with the higher commission. Which one actually put more money in your pocket??


    Need real estate help? Check out this group: http://cafemom.com/group/realestatetips Buying or selling? Check out this group: http://cafemom.com/group/realestatemarketplace

    kn2418

    Answer by kn2418 at 1:59 PM on Nov. 19, 2008

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