Realtor commissions advice please (Boston: real estate, to rent, houses)

[Rick Solie]

We expect to put our house on the market shortly and have spoken with two realtors. Both quoted us a commission of 5%. My neighbor, whose son is knowledgeable in the RE business, was shocked, saying that 5% was much too high. She thought 4% was more appropriate. Our house is in a desirable suburb north of Boston and is situated ideally for a family with children. We've been assured that it will sell quickly and indeed that seems consistent with recent history in our town. We have no wish to leave money on the table so I'm asking here for opinions. We do thank you; it's been a while since we've done this.

[rethcir]

Average real estate commissions dropping to low 5 percent range | Boston Herald

[gf2020]

5% is pretty typical now. 6% used to be the norm.

You can always negotiate for less but you may not get it.

[yellowstatus]

I suggest looking at Redfin. Their commission rates are closer to 3.5%.

[MikePRU]

My suggestion... Focus entirely on what you will net at the end of the home sale. A more effective agent, will definitely get you more money. So, if they get paid a little bit more and you get paid a little bit more why would that a negative to you?

[BostonMike7]

I thought 6% used to be the norm until recently.

When I was selling/buying in the same area, I believe the sellers had to pay 6%

[G-fused]

Originally Posted by MikePRU

A more effective agent, will definitely get you more money.

Always wondered about that. In such a hot market how can a good agent get more $? It seems to me that all they do in recent times is hold an open house and tons of people come and make offers on the spot and the highest one is taken or they say that bids are being accepted until x date and take the highest one from there. How is it that a better agent gets you more $?

[brainbree]

Though technically you can do these things yourself, a good agent will have contacts to rent staging furniture, clean your house, recommend high value low cost services to improve appeal (trash cleaning, yard trimming etc) and most importantly ensure that good photography is taken and open houses are held. You'd be surprised.

[sawyer2]

Originally Posted by MikePRU

My suggestion... Focus entirely on what you will net at the end of the home sale. A more effective agent, will definitely get you more money. So, if they get paid a little bit more and you get paid a little bit more why would that a negative to you?

Says the realtor

This is a sellers market and realtors are not doing a lot more than opening the door and collating offers. Buyers have to accept a lot of conditions or lose out to the next 10 or so in line.

I would suggest 5% max ...... also negotiate that if the buyer comes without an agent they only get 2.5%. They will grumble but will accept it.

[Dm84]

Originally Posted by MikePRU

My suggestion... Focus entirely on what you will net at the end of the home sale. A more effective agent, will definitely get you more money. So, if they get paid a little bit more and you get paid a little bit more why would that a negative to you?

Of course you feel that way, you're a realtor lol.