Profile picture for tamander

Sales Commission Rates

  • August 21 2010 - Quincy
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Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (17)

Profile picture for Dunes....
Sameer I just explained it to Jay Thompson on the Dunes Tavern thread if you are interested (at least my opinion)

Pasa's explaining something so you'll have to scroll down a bit but I just posted it a few hours ago...

They said (posted at Trulia) that I ignored repeated warnings but they never said warnings for what and never sent me any so?????

Most likely cause I'm better looking than all the Trulia Staff but that's just a guess...
  • August 22 2010
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Dunes, what happen to you at Trulia? How come u got booted?
  • August 22 2010
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Profile picture for Dunes....
Realtor_Gri

You must have just come here from the Posting Drivel Question...Wise ya seem to me ;)

Are ya taking about that Crusty old wise acre Alan May fella?
  • August 22 2010
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Profile picture for broker_GRI
Dunes,
I refuse to be wise, it's 2k posts past way too late for me.

We will leave that up to Elv!s aka Alan M, Debra, AzRob, Tiffany and (even though not an agent) Sunnyview.
We had a Marci R, Carol and Anita C but alas....they post no more
  • August 22 2010
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Profile picture for Dunes....
Tiffany I couldn't agree with you more just enjoyed pointing the fact out..
;)
I think for an Agent especially on the Internet, practising Risk Management when dealing with subjects like Commissions, Fair Housing laws ect. is the wise road to travel..



Hi REALTOR_GRI....
  • August 22 2010
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Profile picture for broker_GRI

Commissions are negotiable by law...a federal law, not local, not decided on by anybody except the seller when they sign a listing agreement.

We were told that we (as agents) could freely discuss our rates with clients but to never discuss the issue with any agent/broker outside of our office for the reasons outlined by Tiffany_B

Which of course makes open forums such as these "a slippery slope"

My preference as a listing agent was to offer 3% to the buyers agent in the MLS
  • August 22 2010
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Yes Dunes, which adds a hint of irony. Implying there is minimum commission everyone tries "to hold"...

http://en.wikipedia.org/wiki/Price_fixing

...y'know.

Maybe it takes a business degree? I cannot advise on law other than to give my personal opinion, but you get price fixing pounded into your head in most business schools (and by most brokers). A case study on De Beers here, a reading on oil imports there.

That being said, to the best of my knowledge, you may be able to advertise what commission your own firm has as a policy in many jurisdictions (depending on state law in general and statutory governance of real estate agents)... providing you are only talking about your firm and not a collection of firms. (Not a lawyer disclaimer here, scroll down for full text in last post)
  • August 22 2010
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Profile picture for Dunes....
@Tiffany

According to her Profile Chiara is Broker and a licensed attorney...;)

Sameer....Please..
It's the % offered the Buyers Agents that attracts them not the total % paid the Listing Agent...
Using your own argument a Flat Fee Arrangement that offers 3%-4% to the Buyers Agent will get more Showings than a 5% arrangement split 2.5% to each Agent
  • August 22 2010
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Usually at least 6% total, 3 to buyers agent, 3 to sellers agent. David is right, you don't want to be less than 5% total because there are so many homes on the market so most agents won't even show yours because of the commission. Unless your home is the best on the block, and is a regular sale, etc.

Good Luck. 
  • August 22 2010
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It's rather funny that three of the answers were from agents in California. Just two were from the state of Massachusetts - where the question originated.

Commissions vary from market to market - but they are always negotiable.
  • August 22 2010
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Chiara:

Be particularly careful how you phrase these sorts of answers. The way you posted could easily be interpreted as price fixing, an illegal activity.* Big no-no.

*Please note, I am not an attorney and not legally competent to issue legal advice. This is a personal opinion based on not being a numbskull. For an actual legal opinion, please check with a licensed attorney in your jurisdiction.
  • August 22 2010
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Profile picture for Cashin 23
We in Northern California definitely have a threshold which all try to hold.  It is 5% total paid by the Seller.  2.5% is paid to the listing agent, 2.5% is the minimum offered to Buyers' agents to incentivize them to bring in clients.  My motto "never let a commission get in the way of the sale of a home". 

Kind regards,
Chiara
  • August 22 2010
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Christine said it best, they are "negotiable"
  • August 22 2010
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They are negotiable.
  • August 22 2010
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Profile picture for Mills Realty
The key to commission is to offer a buyer's agent the same if not more than your competition.  In my market that is 2.5% to 3%.  However, you can save commission on your listing side going with a non-traditional agent who has a different business model.  There are many out there that take advantage of the internet, do not skimp on martketing and will get your property sold for much less than a tradtioanl Realtor.

Simon Mills
Mills Realty
  • August 21 2010
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Profile picture for DavidPlush
It's important to remember not to skimp on the commission because if there is another property just like yours and they offer twice the commission which one do you think the buyer's agent will show first?

Make sure you understand what your getting when you hire an agent. Figure out what's most important to you and have these questions ready for the agent. It's important that you feel you can get along with the person for the next few months in good times and in bad.

Best,
David Anderton
  • August 21 2010
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Commission rates will vary with different agents. Make sure you compare marketing plans when choosing your agent. You may be able to save 1% or so going with someone but, lose more in the end do to poor marketing.
  • August 21 2010
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