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Answers (13)
- John Meyers -Baird&Warner, "chicagoland007"
- Contributions:12
The best way to find an agent is through friends (referrals). Most will negotiate the rate and more so if they are a broker working from home without overhead, yet still have MLS access. Above all, you want someone who knows the market and is responsive to your needs. Good luck!
- Karen Mordus, "kmordus"
- Contributions:1
I would certainly shop around, look for experience first. In this market, you may want to look at agents that have been around a while, ones that have seen the good years and not so good years. Ones that have invested in their career through education, especially now that we're in the age of Short Sales and Foreclosures. Commission is always negotiable so when you interview, listen to their opinion of commission and decide from there.
- mportillo12
- Contributions:1
I was looking at a piece of property and the listing broker asked if I was working with a another broker and I said no. She then put herself down as the buyer and the selling broker what does that mean in business sense. She pursed in saying that she was working for me and the seller. I said doesn't the broker that list the property usually work for the interest of the seller instead of the buyer.
- Julie Oswald, "Julie Oswald Realtor"
- Contributions:65
I would suggest shopping around for your Real Estate Professional. The commission that is paid is negotiable. However, you should be more concerned with what kind of marketing plan and process the agent is offering. Some agents have no help from their offices. While others, have great support from their office staff as well as company resources to help get your home sold.
- Terry York, "terryyorkrealtor"
- Contributions:1
By Law Realtors must be competitive in what they charge for Real Estate services. I am able to work with a client to achieve their goals for a price that fits their needs. Fees range from a flat fee to a variety of percentages of sales price. Realtor fees are completely negotiable. Also, be sure you are not paying a service fee to a Real Estate Broker. This is a gimmick that Real Estate Brokers use to pad their fees. Insist on not paying any brokerage service fees other than a commission. Also, to often quoted six percent of sales price commission is also completely negotiable.
- CulverCityRealtor
- Contributions:455
The reates vary depending on what services the brokerage offers. A full service brokerage will invest more in marketing your property, and get a better result.
- Margaret Shea, "sheasellsrealty"
- Contributions:402
Interview several real estate agents who appear to dominate the marketplace. Certain agents excel in listing and marketing properties. Others tend to represent mostly buyers.
Find an agent who is commited to being proactive and understands the concept of fiduciary duty to you as a client.
How much it will cost you to sell your home may have little or nothing to do with what your listing agent charges.Your agent should know the market inside out and be ready to market your property with competence and enthusiasm.
Best of luck!
PS An experienced agent who follows the law and ethics will tell you that the only potential fee he/she is allowed to discuss is his/her own.
- Jack Mulrooney, "ConnecticutRealtor"
- Contributions:484
You could use inverse logic as a basis for identifying agents you should put on your list.
Try talking to the agent who will not negatiate price, who insists on a listing price or buying within 5% of a recent CMA, has access to the largest web outlets and personal contacts with the most flexable banks. Lastly, when presed on listing price or commission, they are willing to walk away to preserve a relationship.
After all, if they are not willing to defend thier own business, what makes you think they will defend yours?
Try talking to the agent who will not negatiate price, who insists on a listing price or buying within 5% of a recent CMA, has access to the largest web outlets and personal contacts with the most flexable banks. Lastly, when presed on listing price or commission, they are willing to walk away to preserve a relationship.
After all, if they are not willing to defend thier own business, what makes you think they will defend yours?
- William Allen, "William Steven Allen"
- Contributions:46
Most people tend to go with someone they trust or heard about from a friend, coworker, or family member. If you don't know anyone then it is a good idea to shop around. But seller beware of agents that promise you everything you want to hear.
- David Senna, "DavidJSenna"
- Contributions:25
It is definately worth shopping around. You will want to interview different agents and question agents who give you a higher value for your property. Some people fall into the trap of going with the agent who puts the highest value on their home and then it sits on the market. Contact me if you have any questions. [contact info removed]
- John Proto, "johnproto"
- Contributions:134
Reasonable is 6% total with 3% going to the listing (marketing) broker and 3% going to the buyer (selling) broker. These fees do not go directly to the agent, the brokers get the fee and the agent gets a portion of that fee.
Always shop around but remember you get what you pay for. You're looking for knoweldge, professionalism, ethical practices and innovation marketing. Open houses, newspaper ads and putting your home on the MLS isn't nearly enough. If you interview someone who has no market statistics, no plan of action, no references then move on to someone else.
By law, fees are negotiable. Test the agents you interview ... if they are willing to cave on their fees right away and work for a reduced rate, how agressive do you think they will be when trying to negotiate the best price for you? Look at it as a job interview. Most employers would never hire someone who says "I know you will pay this much for hiring me but I'll do it for less."
- James Callas, "ABBAUSA"
- Contributions:957
With the internet* providing such wonderful exposure to all sellers, either by themselves or working with a Realtor©, I believe the usual 3% for listing is becoming more negotiable. I provide more than 90% of my marketing efforts by way of the web. I believe that 2% is acceptable, but usually on a smaller property $1000 is my minimum listing fee. I still think 3% is perfect for the buyers agent when the property is sold. That to can be negotiated. New Homes some of time or 2% and 2%. Your area will dictate some of what you are asking and the broker of the agents you are considering will have to get approval for you to list for less. Nothing ventured, Nothing gained. *i love zillow
Good Luck!
James Callas - Realtor®
Good Luck!
James Callas - Realtor®
- Brad (Tito) Fairman - Local PRO, "fairmansellshomes"
- Contributions:102
The current average rate is 6% with 3% going to the buyers agent and 3% to the listing agent. You can try to negotiate it down to 4% or 5% but would probably be getting limited services from your Real Estate company. If you really want to try and get your home sold, I would keep it at 6% but negotiate to offer more to the buyers agent so your home would stand out to other Realtors who will try and bring buyers to see your home. I usually offer at least 3.5% to the buyers agent making the listing agent take 2.5%. You can even try to negotiate a 4/2 split if you can which would give your home that much more selling power.
How much do real estate agents charge? Is it worth it to "shop around?" Do agents charge different
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