What is average commission rate?

[onrway2clt]

Great to hear about the greediness of the agents. Come on pay them more and they really will try to sell your house.

[Chella]

and my first realtor did the same put us on MLS and hardly advertised.. GEE if he would have sold our home and received a large percentage.. well I would have been aggravated even more.

We listed with a new agent and they are doing a better job, but I still believe it's all about location and pricing the house correctly.

That is what it's like in the market today and unfortunately a few years ago my house would have sold much quicker for much more money.

[charlesking01]

I am a Hong Kong Realtor and i find this absolutely ridiculous we charge 1% from both parties, this is a fair commission considering the amount of work required to win over Chinese landlords and even then they don't want to pay commission. The amount of buyers/tenants i get from NYC who ask if the commission was really that much and "whats the catch".

Agents should not be taking 4% of the sale price all they would have to do is sell it the same property 5 times and they would have received 20% of its worth.

Charles King [url=http://www.headlandhomes.hk]Headland Homes - Property Agency in Hong Kong[/url]

[mathjak107]

Originally Posted by sellmyhouse

I am now in the market for a new agent (Halleluyah!) I am selling a 1 bedroom co-op apartment. What is the average commission rate? How much negotiation is there? Does anyone have any strategies?

Heres a strategy offer them 7% . offer them more not less.

you want them showing your house as ofton as they can not the guy down the blocks.

we did it on our house we are selling in the poconos and went to contract this week.

[okaydorothy]

We are paying 5% with one broker who sold two homes for us. One had an offer in 15 days!!. A commercial property we have is 6%.

i still think its way too much.

[ovi8]

Originally Posted by NY652

That's what I want to hear ! More FSBO's ! Yes - we ARE capable of doing this on our own.

On the selling side, if you are willing to field phone calls and be available at any hour of the day for people who may or may not even show, and are a good negotiator and know what to say and what not to say, then sure you can do it on your own. People thought the buying side was easy without a realtor but if your only free time is on a weekend, it's not easy trying to line up 5+ qualifying houses to see on Saturday and Sunday all in a row so no time is wasted - for weeks on end. Realtors do help you out a lot.

To answer the question, it was 2% on each side when we sold/bought 2 years ago.