Will real estate reduce a fee for 2 listings? (condo, broker)

[nitecapt]

I have a condo and a house to sell on Long Island. Real Estate quoted me 4% on the condo. Now I have my mother's house (estate) to sell. Would it be inappropriate for me to tell the realtor that she can have the one home for 4% or both for 3% each? How negotiable are these realtors?
Thanks
Ray

[AndreaII]

It certainly can't hurt to try - if they're smart they'll give you a package deal. They all want their market share and to take that market share away from the next realtor. Be sure to sign up for no more than 3 months at a time - you don't want to be committed for a long time if the realtor you sign with isn't good.

[Elke Mariotti]

Originally Posted by nitecapt

I have a condo and a house to sell on Long Island. Real Estate quoted me 4% on the condo. Now I have my mother's house (estate) to sell. Would it be inappropriate for me to tell the realtor that she can have the one home for 4% or both for 3% each? How negotiable are these realtors?
Thanks
Ray

Commissions are negotiable - nothing new here. So asking never hurts.
That said, not all agents will accept a cut of 1% each, since it's advisable to offer 2% to the selling side; that would leave 1% to the listing agent, which generally has to be split with the broker who holds the license. Marketing expenses x2 for two 3-months listing? In a market that is saturated with inventory?? Maybe negotiate each listing individually?
Something to think about.

FYI, when agents from other states hear that 4% is not uncommon here they're surprised to say the least. Elsewhere, 6% is more common, with an occasional 5%...

[NYEconomist]

Originally Posted by Elke Mariotti

Commissions are negotiable - nothing new here. So asking never hurts.
That said, not all agents will accept a cut of 1% each, since it's advisable to offer 2% to the selling side; that would leave 1% to the listing agent, which generally has to be split with the broker who holds the license. Marketing expenses x2 for two 3-months listing? In a market that is saturated with inventory?? Maybe negotiate each listing individually?
Something to think about.

FYI, when agents from other states hear that 4% is not uncommon here they're surprised to say the least. Elsewhere, 6% is more common, with an occasional 5%...

That's what happens when every other housewife becomes an agent and drives the commission rate down. I have a friend who owns an agency, she has 46 agents. Only 6 are full-time. Crazy times

[Elke Mariotti]

Originally Posted by NYEconomist

That's what happens when every other housewife becomes an agent and drives the commission rate down. I have a friend who owns an agency, she has 46 agents. Only 6 are full-time. Crazy times

Long Island still has over 20,000 agents - down from almost 28,000.

Lowering the commission as prices went up was easier to swallow.
Now that prices have come down significantly (and marketing and overhead costs have gone up noticeably), the expectations for continued lower commission put a squeeze on the income potential for those of us still making our living as a full-time Realtor.

[baabaabooey]

Originally Posted by Elke Mariotti

Long Island still has over 20,000 agents - down from almost 28,000.

Lowering the commission as prices went up was easier to swallow.
Now that prices have come down significantly (and marketing and overhead costs have gone up noticeably), the expectations for continued lower commission put a squeeze on the income potential for those of us still making our living as a full-time Realtor.

The part timers should take a walk. Most of them are clueless.

Just my 2 cents.

[Elke Mariotti]

Originally Posted by baabaabooey

The part timers should take a walk. Most of them are clueless.

Just my 2 cents.

Would help us full-timers and I wouldn't complain

Some were full-timers but became part-timers as a means to survival...

[baabaabooey]

Originally Posted by Elke Mariotti

Would help us full-timers and I wouldn't complain

Some were full-timers but became part-timers as a means to survival...

Post was meant as a compliment to you then

[Elke Mariotti]

Originally Posted by baabaabooey

Post was meant as a compliment to you then

Thank you!

[baabaabooey]

Originally Posted by Elke Mariotti

Thank you!

You're quite welcome ma'am. Your posts have already helped me. Whether you know it or not.

Thank you.