Sold land for 20K- Realtors fees 3K out of that. IS that high?? (agent, commission)

[TruckeeWannabee]

Bare Land, all cash. No loans on either side

Signed documents online except to meet at escrow company.

Are these fees excessive? Listed is $1500 2x for Real Estate Agent commissions

We signed everything online, both parties except to sign papers at escrow company.

Thanks alot

[Rakin]

The commissions were spelled out in your Listing Agreement. What did it say?

[jackmichigan]

Yes, I think a 15% commission is on the high side. But, you apparently agreed to it, so...

[FalconheadWest]

Raw land and lower prices are difference than percentages of regular houses at higher prices. The amounts seem reasonable, otherwise it's not worth the agent's time and energy to make less when they still have to put insurance onto the transaction and pay all their fees. There is a cost to doing business...

[TruckeeWannabee]

Originally Posted by Rakin

The commissions were spelled out in your Listing Agreement. What did it say?

I didn't reference whether it was or was not spelled out in the listing agreement

I asked whether these fees are high

[TruckeeWannabee]

Originally Posted by FalconheadWest

Raw land and lower prices are difference than percentages of regular houses at higher prices. The amounts seem reasonable, otherwise it's not worth the agent's time and energy to make less when they still have to put insurance onto the transaction and pay all their fees. There is a cost to doing business...

Sounds fair, thanks for your response.

[TruckeeWannabee]

Originally Posted by jackmichigan

Yes, I think a 15% commission is on the high side. But, you apparently agreed to it, so...

Thank you

[TruckeeWannabee]

Originally Posted by FalconheadWest

Raw land and lower prices are difference than percentages of regular houses at higher prices. The amounts seem reasonable, otherwise it's not worth the agent's time and energy to make less when they still have to put insurance onto the transaction and pay all their fees. There is a cost to doing business...

Good to know, thank you

[davebarnes]

Seem low to me.
Very low gross price.
Raw land requires a specialist.

[MikeJaquish]

$1500 for a transaction does not seem high to me.

Of course, the 15% may seem high, but the sales price is so low, any amount of money that makes it worthwhile for either agent is going to be a high percentage on a $20,000 price.