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what is the commission a realtor is getting for selling your condo

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February 04 2013 - Carrollton
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There is no standard...it is illegal to have a standard fee. Everyone charges what they feel is fair for the services they provide. You should contact the agents you are interested in using and have them explain their services and fees.
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October 21 2013
in NY area usually it's  % 5-6 
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October 21 2013
A lot will depend on many factors
1. Is the agent working for a team?
2. Are you doing a flat fee or commission?
3  The motivation of the seller?
4. Currently market trends.

There is no set commission and it is always up discussion however I would say a typical rate to see ranges from a grand total of 5% - 6% depending on the price points whether its a $70k condo or a $200k condo it might make more sense to focus on a flat rate listing fee in the end.
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October 21 2013
Real Estate Commissions are somewhat negotiable.  Different companies and agents charge different amounts and can be dependent upon the level of service they provide.  Also commissions vary depending on your specific market - i.e. a 2nd home resort style area may charge higher rates than a suburban area, or different areas in the country.
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February 05 2013
I gave sunnyview a thumbs up on this one. Good answer.
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February 05 2013
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Commissions are fully negotiable under the law and are not set. If you are selling your need to call an negotiate the commission amount. Generally, commissions are a set percentage of the sales price.

In my area, I most often see them raneg from 1-7% depending on the situation, but some are sold for less on a transaction fee basis only.
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February 05 2013
Thanks for the message.....typically it will cost you about 8% of the sales price...that includes your commissions and closing costs.   However it also depends on the sales price.   If you have a $50,000 condo it may be a higher percentage, if you have a $250,000 condo it may be less as some of the costs are not true percentages, but rather fixed costs, like your condo association transfer fee.

I would like to see your place as we have several clients currently looking for condos in the area.
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February 05 2013
Real estate commissions are negotiable.  Identify a real estate agent you want to have sell your home and then ask them what commission they charge for these services.  If it seems too high, ask them to take less.  Everything about listing your home is a negotiation.

But, do consider that better agents can and do charge higher commissions.  Their services are more highly valued and they have other clients to service if you find their terms unreasonable.

Many Brokers will accept a low ball commission and then just put your listing in the MLS.  The law doesnt require them to do much more than this - so they don't.

You have to pick and choose what level of services and cost is right for your particular situation.

Here is some free advice: look at what you will NET from the sale of the condo.  Will marketing and exposure get more money for your home?  If yes, then you may need a Broker who offers more than bare bones services.

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February 04 2013
 
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