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How much does the listing agent get paid

  • August 11 2012 - Myrtle Beach
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Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (23)

I agree w/ Dunes - Ann Gee - thumbs up from me, as well!
  • August 12 2012
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Profile picture for Dunes ..
A Professional...Thumbs up Ann
  • August 12 2012
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Yes of course you are correct. I mis spoke.
  • August 12 2012
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Profile picture for sunnyview
The listing agent gets paid as much as the owner agrees to pay them in the listing contract. Commissions are 100% negotiable by law, but in practice that often looks quite different when you start shopping them.
  • August 12 2012
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wish I could sit on my hands, but I just can't!

@Ann - "Normally a commission is 6%.........."

NO......... it is NOT "NORMAL, CUSTOMARY or USUAL" !!!!!

(and honestly, it is not even true, in reality, in my area!!)

Ann, take the  test from Realtor.Org below linked by Dunes. It deals with the federal anti trust laws and how they relate to the question of discussing commissions in real estate.... you will find it useful! 

Bravo Rita!
Cindy, my sentiments exactly!
:)
  • August 12 2012
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Profile picture for Cindy Quinton

Wow.

Just....WOW!

  • August 12 2012
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Profile picture for Rita Walker
There is no normal for a commission. Some agencies charge less than others, while others may use variable rates. Some Brokers allow their agents to set the commission.

Many agencies are now charging fees which have to be paid whether or not your home is sold. Check around, as there are still many out there that charge none.

Find out what you are getting for your money. The last thing you want to do is pay someone to sit a sign in your yard and walk away.


The most important thing is that you are comfortable with the agent you choose (fees and all), prior to listing with them.
  • August 12 2012
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The listing agent gets paid a commission by his Broker who owns the listing.  Normally a commission is 6% (paid by the Seller) split between the Listing Broker and the Selling Broker.  The agent gets paid some portion of this depending on the arrangement he has with his Broker.  It also may depend on the area your are Selling in but the agent is always paid by his Broker.  In addition to commissions,  costs to sell depending on the area you live in are doc stamps and title insurance and any repairs required on the home.  The buyer would pay for Inspections and his mortgage costs. 
  • August 12 2012
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Can't tell you how many of the responses here made me visibly CRINGE!
The level of ignorance so many agents exhibit in regard to the FEDERAL anti trust laws is mind boggling to me............and frightening.

Know that Ignorance of the law won't protect you when/if charged with a violation!

"While the commision is a negociable (negotiable) item, for the most part itseems 6% is the norm. (INSERT THE WORD OY HERE as I shake my head)The one thing a seller should get in writing is how the 6% breaks down. Insist that the buyers agent get at least 3%. While agents are supposed to show properties regardless of the commission split, in reality whose home do you thgink they would direct their buyers to, one with a 2% commision or one witha 3% commission (OY again)?

Seriously??

Dunes, I think every agent here (and online anywhere) should take that anti trust test whose link you provided from Realtor.Org ------sadly,  many would fail!

Kidding aside - those of you here - take that test, and pass it around to all the agents you know!
You will be doing yourself, and them, a favor!
  • August 11 2012
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Profile picture for Dunes ..
Bingo...

user asked a simple.."How much does the listing agent get paid"
and look at what they get lol

Point is the proper response imo would be..Depends
Depends on the Level of service you wish
There are options and some Realtors/Agents offer this and some offer that...I offer

All the "standard"..usual...I'm better cause I charge more..better cause I don't offer Rebates...the seller pays so what's the difference..it's free for you....it all is for what purpose?
To educate?...Please, we ain't as dumb as we look

And to Educate.
A lot of Realtors have crossed or are walking a very fine line imo, doing a dangerous dance with Anti-trust issues and it's only been since 2008 that NAR had it's last go around with the DOJ
Wouldn't think they'd like or could afford another one.

  • August 11 2012
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Profile picture for blub blub blub
You're wasting your energy SoCal. Those agents will never check back on this thread, so they won't realize what ignorant things they said.
  • August 11 2012
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Profile picture for SoCal Engr
Some of my favorites...

"An agent that cannot negotiate his/her worth in good payment, is not going to be able to negotiate for the client either."

Don't worry. After I'm done raking you over the coals, you can watch how well I rake the buyers over the coals. Of course, if I'm too hard on the buyers, they'll walk and I won't get paid. So...you may be in for another round of coal-raking when we get an offer.

"This One more thing sgents are one of the few that can work a lot , hard, efficiently and end up with 0 for payment. If you pay a low commission do not expect your agent to expend a lot of money on promoting your property "

I may be unsuccessful in my other endeavors, so I will have to make up my losses on your transaction. Then again, I may be successful in my other endeavors - but don't expect me to give you a break.

And, I may take your listing at a lower commission rate, but I won't put as much effort into it. Since I hold myself in high esteem, I will project this attitude on any REA who dares to try and undercut my commission rates.

"While agents are supposed to show properties regardless of the commission split, in reality whose home do you thgink they would direct their buyers to, one with a 2% commision or one witha 3% commission?"

"As the other gentleman stated many areas are still a buyers market and buyers agents will show where they get paid the most so keep that in mind when setting what you are willing to pay a buyers agent and your chosen listing agent."

This is just wrong on so many levels. But, it does call into question the actual value of the listing REA (other than access to the MLS). Maybe the FSBO model-of-the-future is incentivize the buy-side REA with a cut of the savings from not having a listing REA?
  • August 11 2012
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Profile picture for Dunes ..

What was the purpose of some of the Answers here?
or here how much does a buyers agent get paid
That is what concerns me...

Consumers..Sellers & Buyers have options
  • August 11 2012
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Profile picture for Ofe Polack

What is the purpose of your question?

  • August 11 2012
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Profile picture for Dunes ..
I think "Standard".."Normal" is a very poor choice of words nor do I think posting specific numbers 3%..6% as normal or usual is wise and if anyone wishes to check NARs list of words not to use..dangerous to use when mentioning, talking or writing about Commissions you'll find "Standard"




QUIZ: ANTITRUST..RealtorMag/Realtor.org

"Avoiding Antitrust Risk: 6 Prevention Tips"..Realtor.org

#2 Tip...Never use the word "standard" or "prevailing" to describe your fees and services.

NAR
"A little competition is a good thing, right?
Learn why awareness of antitrust issues is important for real estate professionals, along with information on avoiding antitrust problems. This field guide provides guidance for brokers and associations, articles and books about this essential legal issue and updates on the Department of Justice case against NAR."..NAR Library/Realtor.org

Just sayin...wouldn't think Realtors would want someone to report a suspected antitrust trend violation by a significant number of "REALTORS" on RE sites...

Members of NAR..what would the DOJ see if they did look closely at Blogs/Forums ect.?.

DOJ..contact us

Don't think saying or implying properties won't be shown by you or most/many Realtors unless X amount (What you charge) is offered is wise either..

Suggesting those Realtors who belong to the same organization, pay the same dues and have the same Code of Ethics but do Discounts/Rebates/Fla Fee ect. are not good Realtors, not as professional is Bush League BS imo
  • August 11 2012
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Like all aspects of a sale, the commission is negotiable. An agent that cannot negotiate his/her worth in good payment, is not going to be able to negotiate for the client either. Do not forget that out of each sale there are a number of fees and transcation expenses that vary from at least 50% of the split of the commission depending on the brokerage. Plus taxes and all other expenses of running ah business. This One more thing sgents are one of the few that can work a lot , hard, efficiently and end up with 0 for payment. If you pay a low commission do not expect your agent to expend a lot of money on promoting your property . Selling a property is much more than taking photos, planting a sign an list on the MLS. To do just this there are licenses, mls fees and many othee expenses. Is not as great as some think but we do make a living of the commission just like loan officer, financial investors and many more. I have yet too find too many persons that given the same circunstances will choose the lower paying job. Well agents are the same.
  • August 11 2012
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Profile picture for Dunes ..
"While agents are supposed to show properties regardless of the commission split, in reality whose home do you thgink they would direct their buyers to, one with a 2% commision or one witha 3% commission?"


And in reality what does that say about Agents claiming that if hired they will work for the best interests of their client?
  • August 11 2012
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While the commision is a negociable item, for the most part it seems 6% is the norm. The one thing a seller should get in writing is how the 6% breaks down. Insist that the buyers agent get at least 3%. While agents are supposed to show properties regardless of the commission split, in reality whose home do you thgink they would direct their buyers to, one with a 2% commision or one witha 3% commission?

  • August 11 2012
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Profile picture for Dunes ..
You should read the Information on the Department Of Justice
Anti-Trust Division Web Site about all the options Consumers actually have


Competing models of real estate brokerage

Consumers can save thousands of dollars in commissions

Example...South Carolina
1. Allows choice of brokerage services
2. Allows brokers to offer rebates to consumers
What are the laws in your state?
  • August 11 2012
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Here in South Carolina, the normal commission rate is 6% of the contract sales price. . . which is split evenly (3% each)between the listing and selling agents.   However, if the listing agent brings a buyer themselves, then they will usually receive all 6% of the commission. 
  • August 11 2012
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Profile picture for m7duke3
While that varies from listing to listing, in NJ there is a practice of splitting the commission 50/50 with the sellering agent. However, it is not unusual for the listing agent to receive 3.5% and the selling agent to receive 2.5 % on a 6 percent commission.
  • August 11 2012
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Commissions are not fixed so you will need to have a conversation with the listiing agent that you choose as see what his or her office policy is. As the other gentleman stated many areas are still a buyers market and buyers agents will show where they get paid the most so keep that in mind when setting what you are willing to pay a buyers agent and your chosen listing agent.
  • August 11 2012
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Profile picture for ABBAUSA
What you and the listing agent agree on.

I use the internet, all most exclusively and I would list a very marketable property for less than the customary 3%.

Make sure you understand that it is a buyers market and be prepared to deal with the demands of lots of buyers.

Check with several agents before deciding. Go with one you are comfortable with and set your starting price correctly for best results.

Good Luck!
James Callas - Realtor® 
  • August 11 2012
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