Profile picture for MCETEE

What is the average commission paid to real estate agents for selling a property?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010 - Chicago
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (14)

Wow, in spite of some agents clearly and correctly stating that it is a no no to discuss commission rates in a public forum, some of you are going for it anyway.
Also, how can anybody seriously believe that you get what you pay for???
I have had the privilage of working with some great agents who deserve every penny they get and the horror of working with some terrible agents who didn't deserve a dime.  I have never known of a pay structure in this business which says that if you suck as an agent, you will get paid a lower commission. 
You do NOT always get what you pay for!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 29 2010
Markie answered as I did. This is not a case of not being transparent. It is a case of violating the Sherman Anti Trust Act. I am not sure why some agents think it does not apply to them 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 29 2010
If it sounds to good to be true,,,, it usually is
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 29 2010
I would have to agree with Sandy and you def do get what you pay for.  In the Chicagoland area, the average commission rate is normally between 5 & 6 percent.  Normally if you find anyone that is offering to take on the listing for a cheaper amount, you should expect to get a cheaper level of service.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 26 2010

Commissions are negotiable and vary widely ... as does the service level one can anticipate from the various sources! Your best bet is to do your own homework & see who does the best job in your community, then ask for referrals from friends & neighbors who have had a good experience. In the end it's better to spend a little more to gain a LOT.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 26 2010

All I can add to this is...you get what you pay for.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
We agents have  been taught how to dance around this question because the Fed's sued the NAR a few years ago for violating the Sherman Anti Trust laws (price fixing). The Feds won and things changed.....sort of.
If your property is in Chicago and under 500K the odds are strong that the most common commission is 5% and the coop offered to the buyer's agent is 2.5%.  I can pull up the listings to show you. In addition to the commission many firms include other fees on top of that. Most want to lock you into a 12 month Agreement or they charge a 'penalty' fee for early cancellation because the market is so 'difficult'.
It does not matter to most firms whether it's a 100K studio in the downtown area or a 400K house in Jefferson Park. There could be a lock box for showing or the agent shows it all the time. It could be a short sale or not. It could sell in 2 days (like back during the bubble years)or 2 months or 2 years(like now)....it's all usually the same commission.
My web site gives you a few options, but you should clearly speak with a few agents.

philip
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
The is a very good question and in this market agents are spending more time, energy and money.  If your neighbor is listed with a lower commission it is a great time to list just below theirs and offer a higher co-broke commission. GREAT way to sell homes in this market place.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
There is no average. It is a clear violation of anti-trust to use terms like average, normal, or customary to name a few. Each company can tell you individually what they will charge.In order for a property to be listed in the MLS it is under an exclusive agency or exclusive right to sale agreement and that agent owes you minimum services in the state of Illinois.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
[content removed by moderator due to self-promotion]
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
I would agree with Brian. It is not that you cannot get a real estate agent to answer in an open forum it is a liability to the REALTOR and his brokerage if he does. for more information on the Sherman Anti Trust Act go to Realtor.org 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
There is no set average. Each company charges different and in each company, some agents charge different. Your best bet is to interview three agents and see what each has to say. See which company gives you the best rate for the best service.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010

Ask three different agents from three different companies in your area to get an average. Commissions vary on different type of properties, price range and listing company you will be dealing with. Keep in mind that the commission pays for the marketing, listing, closing, etc for your property. If an agent undercuts other agents or you use a discount brokerage firm, find out exactly what you will be giving up. There is much more to selling a house today than simply placing it on the local MLS.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
You will not get a real estate agent to answer that specific question; we are strictly prohibited from making statements implying that there is an average or a "going rate".  I can tell you what "I" charge or what my company generally charges, but that will not help you in your area. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 17 2010
 
Related Questions
Price evaulation
Profile picture for John Kreiss
Latest answer by John Kreiss
6 days ago | 8 answers
  • Asked by nikkiainghkarma
  • In Pricing
  • March 05
How much does our choice of realtor matter? Using same agent we bought with.
Profile picture for themorrigan20
Latest answer by themorrigan20
April 10 | 13 answers
how do i get an estimate on my condo's market value?
Profile picture for John Steeby
Latest answer by John Steeby
April 08 | 11 answers
  • Asked by fes523
  • In Pricing
  • January 27
Why is my property zestimate through mint.com significantly higher than my zestimate through zillow?
Profile picture for Leo Schwartz
Latest answer by Leo Schwartz
April 07 | 12 answers
selling my condo
Profile picture for Leo Schwartz
Latest answer by Leo Schwartz
April 07 | 11 answers
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 5801 Francis Ave, Countryside, IL Home For Sale
    5801 Francis Ave, Countryside, IL 60525

     For Sale: $320,000

    • Beds: 3
    • Sqft: 1600
    • Baths: 2.0
    • Lot: 8968
  2. 919 S 10th Ave, Maywood, IL Home For Sale
    919 S 10th Ave, Maywood, IL 60153

     For Sale: $157,900

    • Beds: 3
    • Sqft: 1766
    • Baths: 3.0
    • Lot: 5262
  3. 1446 N Wood St APT 1S, Chicago, IL Home For Sale
    1446 N Wood St APT 1S, Chicago, IL 60622

     For Sale: $599,000

    • Beds: 3
    • Sqft: 2400
    • Baths: 2.1
    • Lot: --