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what is a typical realtor fee?

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May 13 2013 - Provo
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Profile picture for Pasadenan
No question about it... it is "delusional" to think that responses like Cheri's are pricing collusion violating US Antitrust laws, regardless of how inaccurate, wrong and unfounded their "opinion" is.

Here is a link for Realtor anti-trust violations from the US Department of Justice:

USdoj.gov - Realtor antitrust search
approximately 370 results.

Here is an interesting one from 2005:
DOJ civil antitrust lawsuit against NAR in Chicago

We all know what collusion is, and what it isn't, and it is not that hard to make the determination from the evidence.

Yes, of course NAR pays for the defense of such lawsuits with the membership dues of their members.
After all, NAR is a 501C(6) non-profit association.
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May 14 2013
the agents are intentionally trying to hide their "collusion" in direct violation of U.S. anti-trust laws!

I nor my fellow agents have any control over how material is disseminated on MLS. Therefore I can't be held culpable in any delusional collusion.
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May 14 2013
Commission varies by location and by realtor, and is typically in the 3 to 6 percent range. If you are interested in selling or buying, talk to three real estate sales agents and "interview" each to find out the commission; what the marketing tools each can offer, especially internet marketing tools; and ask about their share of the market in your area.
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May 14 2013
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"which are on the agent side of the firewall and not the public side"  -

That is exactly what I said, ... the agents are intentionally trying to hide their "collusion" in direct violation of U.S. anti-trust laws!  And then trying to pretend that the general public has no clue what they are doing, in spite of the published numbers to the contrary.  The U.S. district attorney can easily subpoena the MLS records for prosecution if needed, not to mention, HUD has all the agent fee numbers, so the district attorney can easily get the numbers there too.

They won't prosecute based on the artificial fictitious "made up" numbers that Realtors post on threads like this, as it is obvious that the agents that post those numbers have absolutely no clue what anyone's fees are but their own, in spite of seeing the published numbers in the MLS every day.
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May 14 2013
the local MLS publishes the "selling agent commission" for each listing in the MLS, so  NAR and the local MLS are intentionally violating the intent of the U.S. anti-trust laws,

Those published rates (which are on the agent side of the firewall and not the public side) are rates that have been contractually agreed to between seller and broker. They are not meant to suggest 'typical' or 'average' or 'normal' rates. Rather, they are the rates that have been negotiated between the seller and their broker.

Hence, all rates are 'negotiable' and all levels of service are negotiable.
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May 13 2013
Profile picture for Pasadenan
According to a HUD study in 2008; agent fees are "well characterized as $970 + 4.5% of home value".

That is typically spit 4 ways, between the two agents and their brokers.  The listing agent typically negotiates with the seller for both the "listing commission", and the "selling agent" commission, both of which typically comes off the sellers net revenue from the sale.  The seller may need to bring money to the closing table to make that happen.  A seller should also typically negotiate a reduced rate if their agent handles both sides of the transaction.

In spite of agents refusing to post statistics on the commissions in their MLS area due to "worries" about violating U.S. anti-trust laws, the local MLS publishes the "selling agent commission" for each listing in the MLS, so  NAR and the local MLS are intentionally violating the intent of the U.S. anti-trust laws, and then trying to use the law as an excuse to cover up their attempt at price fixing by trying to intentionally hide well known published data, and snow the public about what the anti-trust laws are and how the apply or don't apply.  The "intent" of anti-trust laws was never to keep fees and profits hidden from the public, nor to put extra money in the pocket of practitioners of any business field.
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May 13 2013
Where I come from, there is no 'typical fee'. Agent listing fees are almost always negotiable and can vary due to the amount of service required by the seller.

Talk to multiple agents in your area to determine a fee and service level that works for you.
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May 13 2013
In my area, South Florida, Listing Commission is generally 6%.which is split as 3% for the Listing Agent (Marketing) and 3% to offer the Buyer's Agent.  Of course, this is negotiable.  When you buy a home, you do not pay a commission as it is paid by the Seller.
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May 13 2013
In Rhode Island, the commission is always negotiable between the seller and their corresponding broker.
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May 13 2013
Depends,

If you are looking to buy a property it is free, the seller pays for it.

That being said,

If you are intending on selling a property, the general commission split is 3% to the buyers brokerage and 3% to the listing brokerage.

It is also good to mention that ALL parts of real estate are negotiable.

Darren Watson
Equity Real Estate
Utah
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May 13 2013
 
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what is a typical realtor fee?
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May 14 2013 | 10 answers
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