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Commision 6%?

Profile picture for Amberleighe

I have seen several posts here mentioning 6% Commision?? Then I see others saying 3%, what is the more commonly "expected" commision by an agent?

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June 07 2008 - US

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rockinblu

Glen Carbon, IL

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I think 6% to the brokerage that divies it up among the listing agent, buyer agent and the brokerage itself.

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June 07 2008
Profile picture for K101
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Another poster has posted a statistic that the nationwide average commission is now 5.1%.  Commissions are always negotiable and you may wish to negotiate up front with your listing agent for an even lower commission in the even there is an unrepresented buyer involved.

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June 07 2008
Profile picture for Amberleighe

If I decided to continue with my plan of FSBO and a buyer was represented by an agent, how much commision would I expect to pay? Problem is I'd walk away from my home with no profit if I use an agent!! (only lived in it a year, we're relocating so we must sell)

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June 07 2008
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rockinblu

Glen Carbon, IL

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You best check around and find out what the norm is for your particular area. Pay at that rate and not below it. Keep in mind many Realtors consider FSBO's as twice the work for half the money.

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June 07 2008
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rockinblu

Glen Carbon, IL

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Amberleighe

 

If you follow through with your decision on doing a FSBO, check out the thread attached to the link below.

 

FSBO info 

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June 07 2008
Profile picture for wetdawgs
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Normally FSBOs pay the buyer's agent 1/2 the normal percentage that goes with having full representation.  So, if the norm in your area is 5%, then 2.5% would go to the buyer's agent.  If the norm in your area is 6%, then 3% to the buyer's agent.

 

In most areas of the US at the moment,  you are lucky if you get a gain after a year of ownership even if you don't pay any real estate commission.    I sympathize with an unexpected relocation.

 

 

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June 07 2008
Profile picture for Spec_T
Real Estate Agent
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"Until relatively recently, travel agents have been the key intermediary between travel suppliers and consumers, with information as their primary stock in trade. However, changes to information technology and the advent of the internet have the potential to allow travel suppliers and consumers to interact directly, thus threatening the existence of the traditional travel agent."

 

hmmmm interesting  sounds suspiciously like the Real estate industry.

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June 07 2008
Profile picture for Spec_T
Real Estate Agent
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fast forward  a little ........... read it again

 

 Until relatively recently, real estate agents have been the key intermediary between sellers and buyers with information as their primary stock in trade. However, changes to information technology and the advent of the internet have the potential to allow sellers and buyers to interact directly, thus threatening the existence of the traditional real estate agent.

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June 07 2008
 

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