Quote:
Originally Posted by Boxer
I would suggest that sellers also watch the contract that they sign with the realtor. I was not told that if the house sold and there was no realtor on the other side that my realtor would get 5% as opposed to the 2.5% that she would have got if there was another realtor involved. I suggest that sellers negotiate this part of the contract to at least 4% especially if the price you get is 50,000 under the asking price. Just my opinion.
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Boxer
There are new forms that show how commissions are distributed.
Unfortunately what might have happened in your situation was that you did not know that commission rates are negotiable and are between the realtor and seller.
By law we are not allowed to have a set percentage and can not discuss our commission rates with other realtors.
Everyone should be careful with any contracts that they sign in life..real estate, gym memberships etc.
If you do not know what you are signing it is always good to read it over, get a second opinion or ask more questions.
Some realtors will agree to a lower commission if they list and sell the house. Others do not.
But like I said every realtor has their own way of doing things so dont assume that this is always going to happen.
**Unless an agent is a buyers agent they work for the seller. On of their goals is to get you the most amount of money in your pocket.