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All fees are negotiable! Don't be afraid to ask for a lower fee. The agent may agree or justify why they charge "X" percentage. Not all Realtors are created equal. Do your homework and check out several agents. I always like it when I'm competing against someone for a listing.Good Luck!Bob
Agents don't generally determine the commission. It is the broker or owner of the company that does. In addition, it is the big companies in the industry that control the costs and make it difficult for the little guys to compete. The higher the costs for a brokerage or realtor, the bigger the advantage to the larger companies. It is far easier for a group like Reology to fix or manipulate the market and costs.http://www.realogy.com/about/rfg.cfm
Commissions are always negotiable. However, like they say you get what you pay for.
"Wants"? Any fees and/or commissions should be spelled out in the listing agreement. If the "marketing fee" is in the listing agreement, then you need to pay it. But, IMHO, "marketing" and any other "overhead expense" is part of what's covered by the commission.
"To add to this discussion, I'm selling my home and we've had 2 offers in 8 weeks. Our home is very marketable and priced right. Our agent hasn't brought in one client; they've all been from other agencies. I agreed to 6% because I know he's splitting that with the other agent. My beef is that he also wants me to pay a $325 marketing fee on top of his commission. I'm going to decline to do so, because his marketing fees should be covered by his commission."Are you sure the $325. is not a processing fee for the conveyancing department? This covers the paperwork, recording of deed, etc. Also, most of the time the listing agent will not be the one that shows the property. They are hired to market the property to everyone else and since you are getting traffic and had 2 offers in 8 weeks this job is being done. What if he is the one that actually does bring the buyer are you then going to say that the buyers agent 3% was not earned?
Agents get paid very well for what they do. Too well by most standards and the pay is high because of the failure rate, not because of the quality of work.It seems a little unfair that a roofer with many more years of training and expense than most agents. This poor guy will spend 60 hours this summer on top of a roof here in central Florida (pretty friggin hot) and might walk away with $1000. The company he works for might have 6 guys earnng a total of $6000 and the company will charge $12,000. After all that is done, I will arrive, listing agreement in hand, and with a lick and a promise, a paycheck with considerably less effort than the roofer/s and for about the same amount of money.
I'm not suggesting 6%, 5%, 4%, flat fee, limited service, a la carte or FSBO, but yes commissions are negotiable and agents need to step back and take a look in the mirror. We are not worth what we get paid. I get paid far more than many agents who I consider to be better at their job than me. How many years of routine work per patient must a doctor work to earn the same money I earn per client? How many clients must an attorney retain to earn what I earn in a year? Why should I earn, in one year, what a carpenter earns in three or more?Finally, before anybody comes on and starts talking about 50/50 splits with their broker and paying taxes, get a better deal with your broker and don't forget to mention all the tax breaks we get.
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