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Can we negotiate the agents % or is it a set in stone thing?

  • September 25 2012 - US
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Answers (6)

Everythign is negotiable...best of luck.  From my experience ask if someone drops their fees if they will be removing services..normally a rteduced fee means reduced services....best of luck
  • September 26 2012
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Profile picture for Ofe Polack
There is no set fee,  the commission is set between the listing agency and the seller.
  • September 26 2012
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Profile picture for SoCal Engr
"The listing agreement is between the Seller and the Listing company."
 
That is correct. However, that does not prevent (other than in a few states) a REA from offering to rebate part of their buy-side commission to their client (i.e., the buyer). So, even though the typical listing agreement identifies compensation for the buy-side REA, it is still a negotiable item for the buyer when selecting a REA to work with.

"The agent that will work for the lowest commission may not be the agent that is the best for you."

Perhaps. But, as has been demonstrated too often on these and other forums, paying "full price" is no guarantee of performance or skill.
  • September 26 2012
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Thanks for posting your question on Zillow.com!

Short answer: yes.
  • September 26 2012
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Profile picture for Dunes ..
From the Dept of Justice website

"In many parts of the country, the traditional full-service real estate broker now faces competition from a variety of real estate brokerage models, many of which use the Internet to reduce costs:

Fee-for-Service Arrangements

Brokers willing to sell a subset of real estate brokerage services, often called fee-for-service brokers, have emerged throughout the country. Fee-for-service brokers "unbundle" the package of real estate services typically offered by traditional full-service real estate brokers and charge a set or hourly fee for specific services, such as listing the house in the MLS, negotiating or closing contracts, and pricing the home. These brokerage models typically enable consumers to save thousands of dollars by allowing them to purchase only those services they want.

Learn more: Fee-for-Service Brokers

Rebates and Inducements

Some real estate brokers have increasingly begun to compete for customers by offering cash rebates or other inducements to home buyers and sellers. Rebates that go directly to buyers or sellers lower costs on both sides of the transaction. Cash rebates are usually calculated as some fraction of the broker's commission and can result in thousands of dollars being returned to the consumer.

New business models can save consumers money

Most consumers want to make as much money as possible on the sale of their home and spend no more than necessary when purchasing a home. In many cases, the standard broker's commission can offset a portion of the equity value that has been building up in a seller's home or push the price of a home beyond a buyer's purchasing power. Consumers who want to perform some of the steps involved in selling a home can reap significant financial savings by purchasing only those real estate brokerage services they actually want.

Just as the Internet has made it easier for consumers to save money by directly purchasing plane tickets and stocks, it is now making it feasible for home sellers and buyers to do more of the work themselves and pocket the savings."

Competing models of real estate brokerage

  • September 26 2012
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There is no set commission rate.  The listing agreement is between the Seller and the Listing company.  The terms of that agreement are put in writing at the time the paperwork is signed.  The agent that will work for the lowest commission may not be the agent that is the best for you.  Interview a few Realtors in your area and let them tell you their marketing plan and what rate they charge.  Good luck to you!
  • September 26 2012
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