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Just a quick question, when a party offers to "co-broke", what percentage of commission does that represent? I am not familiar with real estate commission structures in Charlotte. Thanks in advance for your responses !
Typically the amount is 6% 3 % for the buyers Agent 3 % for the Selling Agent. Obviously this can vary
I was quoted 5 & 5% by an Charlotte area agent, can I assume that is higher than normal in the Charlotte area or normal. It is very high compared to the Midwest.
I was quoted 5 & 5% by an Charlotte area agent, can I assume that is higher than normal in the Charlotte area or normal. It is very high compared to the Midwest.
If this was quoted for selling raw land, it is within reason.
Just a quick question, when a party offers to "co-broke", what percentage of commission does that represent? I am not familiar with real estate commission structures in Charlotte. Thanks in advance for your responses !
It does vary, by agent and by firm. If you are working with an agent who says they will co-broker; ask them how much they are offering to bring a buyer to the table. If you are doing For Sale By Owner, offer them what you think is fair.
Commissions are negotiable, but firms do sometimes have a policy set in place as far as the amount they expect the agents to receive.
You may want to talk to a realtor that offers a lower comission, there are plenty or good realtors out there that will not charge the higher commissions. The current 6% for homes and 10% for land was established back when land was 7K or 8K and acre and most homes were selling for 100K or less. Even though many parcels of land now sell for 100K plus, the realtors haven't exactly been falling over themselves to lower the commission to a more reasonable rate. If you are not in a hurry to sell the land you could probably do a FSBO and offer brokers 4% or 5% depending on the price of the land. Real estate commissions in general are based on when homes were selling for much less and realtors had to do much more work. Now, most people find what they want online before they involve a realtor for a showing. With the exception of some instances, the days of a realtor showing someone 50 houses before a sale is made are over. When I bought, my realtor made about $9K for maybe 15-20 total hours of work.
True many excellent realtors offer a reduced rate.Of course this is open to negotiation.Service and a good rate might be just what you need
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