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Answers (4)
- Troy Trumm, "ttrumm"
- Contributions:269
Real estate commissions have not changed in Omaha, and why would they? Sellers don't offer to pay a higher commission in good times when they have equity; why would agents offer to do the same job for less just because the seller can't afford to sell.
Troy Trumm
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Troy Trumm
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- SteadyState
- Contributions:787
Jim -
The questions was about sellers loosing money not the enormous amount of work does by REAs who in my humble opinion are overpriced and survive only because of the monopoly of the NAR.
The questions was about sellers loosing money not the enormous amount of work does by REAs who in my humble opinion are overpriced and survive only because of the monopoly of the NAR.
- Michael Emery, "MikeEmery"
- Contributions:7298
Real estate commissions (as always) are negotiable.
I know that in the past the banks that were on the hook in a short sale were asking agents to shave off a percentage from their commissions as they sometimes had to pick up the agents fee.
I know that in the past the banks that were on the hook in a short sale were asking agents to shave off a percentage from their commissions as they sometimes had to pick up the agents fee.
- Jim Stevenson, "therealtorguy"
- Contributions:1111
In Michigan, most realtors are still at 6% ... 3% for the buyer side and 3% for the seller side. Some bank owned properties (and short sales) are at 5% when the bank refuses to pay 6%.
In this economy realtors are working harder on the sales. Houses are listed for longer periods and we have to try to keep the listing fresh. More open houses and more advertising. Many houses that aren't selling are being leased. So instead of splitting 6%, we are splitting one months rent.
And just so you know, my dues to my local real estate board, state board, and the national board have not gone down. The commission split with my broker, my monthly office/desk fee and errors and omission insurance have not gone down. My monthly multi list fee has gone up along with my health insurance. So we are trying to make ends meet with less income along with the rest of the country.
In this economy realtors are working harder on the sales. Houses are listed for longer periods and we have to try to keep the listing fresh. More open houses and more advertising. Many houses that aren't selling are being leased. So instead of splitting 6%, we are splitting one months rent.
And just so you know, my dues to my local real estate board, state board, and the national board have not gone down. The commission split with my broker, my monthly office/desk fee and errors and omission insurance have not gone down. My monthly multi list fee has gone up along with my health insurance. So we are trying to make ends meet with less income along with the rest of the country.
What is the avg. real estate commission in the midwest now that so many people are losing money?
Now that so many people are losing money on their homes and having to bring money to their own closing I'm wondering if the real estate commissions have changed at all.
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