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I think if the sales commission is 5% the listing agent will take 2% and offer the buyers agent 3% (most of the time). That helps to ensure all agents will show the property.
If only the realtor would get the $1500...the firm gets the $1500 and the realtor gets a portion of it...
That being said, I would not recommend paying the buyer's agent less than 3%. I would show properties at 2.5% but I suspect many other agents would hesitate. There is so much inventory out there right now, so unless your property is very very special I would offer the buyers agent the 3%.
If your agent takes the listing for 5% then they should be the one taking a pay cut and offering 3% to buyers agent. A builders are offering more than 3% in this market and you are crazy to offer 2.5%
Thats news to me. I always thought buyers and listing agents split the commish, so a 6% would be 3/3 and a 5% commission paid by the seller would be split 2.5/2.5, but not here, huh?
Thats news to me. I always thought buyers and listing agents split the commish, so a 6% would be 3/3 and a 5% commission paid by the seller would be split 2.5/2.5, but not here, huh?
Yes and no. In real estate, as I'm sure you know, everything is negotiable. 6% is what most listings are offered at but if I have a (potential) client that wants to list at 5%, I make them aware that it will affect the showings. And no, I don't eat 1% for the sake of my Seller. If they want to discount the commission then they (with me and the Buyer's agent) are going to suffer the consequences.
At the end of the day, I've gotten to where I will VERY RARELY move my commission to less than 6%. It is what it is. The market's tough enough without this distraction. It takes so much to sell and move a non-foreclosure/short sale right now that if I have a seller that doesn't want to pay 6%, I'm better off without the listing. My only exceptions are when they are priced so tight that they don't have the money to give....in other words, they are dead serious to sell at all costs....then I will concede (to my detriment, not a BA's) to help them get out of their situation.
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