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If agents don't want to get into anti-trust issues, they will not say what is "typical" because nothing is "typical" and it's all negotiable. You should meet with multiple agents and see what they charge in your area, and then you'll see what to expect.
No, not all are percentages. Some are flat fees. You get what you pay for so interview and find the right agent, not just the right dollar amount.
I'm just curious as my listing agent charged be 5% but the house was listed at $250k. So curious to see if the % typically comes down if the house is more expensive.
I'm just curious as my listing agent charged be 5% but the house was listed at $250k. So curious to see if the % typically comes down if the house is more expensive.
1. Define "more expensive."
2. Recognize that the "typical %" is regional - not national.
3. Realize that your listing agent us gonna hand over a big chunk of that commission to their broker, the buyer's agent and (possibly) a referral agent.
4. Remember these words: You get what you pay for.
Location: Sarasota/ Bradenton - University Pkwy area
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Some will say, "you get what you pay for" but if this were true, then the various business models wouldn't exist.
Not all low commission arrangements are really a bargain and not all high commission agents are truly full service. One thing I say often is a great agent is worth more than just their commission, but a bad one can cost you more than just a commission.
Shop for knowledge, experience, a skilled and cutting edge marketer and negotiator and find out what they charge. In other words, don't pick a real estate agent solely on the commission rate.
Some will say, "you get what you pay for" but if this were true, then the various business models wouldn't exist.
Not all low commission arrangements are really a bargain and not all high commission agents are truly full service. One thing I say often is a great agent is worth more than just their commission, but a bad one can cost you more than just a commission.
Shop for knowledge, experience, a skilled and cutting edge marketer and negotiator and find out what they charge. In other words, don't pick a real estate agent solely on the commission rate.
We agree totally, Sunshine. Your last sentence was much better phrased than my off-the-cuff "you get what you pay for." BRAVO.
I think you'll find that 5-6% is pretty common in most markets, though of course there are exceptions. In general, I don't think the home price makes much of a difference unless you're talking $1m+. An agent won't accept less commission just because you're going from $250k to $550k; they make their living by working with sellers with a range of listing prices. It's like saying you should tip less on a meal if you order the lobster vs. the chicken.
If buyers are local, do their own research, and a selling agent is on 100 percent commission, what kind of rebate could a buyer expect?
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