Profile picture for malloryk

what is the range of commissions I can expect when I sell my townshouse?

  • June 22 2009 - Fairfax
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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)

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Profile picture for SoCal Engr
I'm not a "REALTOR", so I guess the code doesn't apply...

In SoCal, the standard contract was 6%, 3% to the buying broker/agent and 3% to the selling broker/agent. When I sold, I also negotiated a separate commission schedule for dual agency (i.e., same broker/agent representing both buyer and seller) and for two agents within the same brokerage.
 
Remember, you are the one holding the cards until the listing agreement is signed. Just don't get too greedy (i.e., remember the 3/3 baseline).
  • June 22 2009
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Hello,  I am an agent in your area.  I recommend speaking to 3 agents.  See what they offer you in marketing your home.  I would love to speak to you if you have not yet chosen an agent.  Bill  [contact info removed by moderator]
  • October 03 2010
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Real Estate agent Commission is alway negotiable!! 
  • June 27 2010
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I am not an agent in your area.
What I would do is call several real estate offices and ask to speak to an agent and go over the commission break downs with them.
Good Luck !
Nancy
  • June 07 2010
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If a realtor you inteview gives you a very low comission, not an averange rate, think twice. You might get what you are paying for. Also, if you ask to lower the comission and a realtor aesy says "yes", think twice again if you want to hire that person to repesent you. If a realtor gives up own money, how easy he/she will give away your money when time comes to negotiate a contract with a buyer on your behalf.
  • June 06 2010
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Profile picture for vabroker
Ask the listing agent to add the following to the listing agreement "Seller may cancel this agreement without penalty at anytime if Seller is dissatisfied with broker's services"
  • May 24 2010
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Profile picture for govcat
Most agents work hard for their money. I had a sale fall through once and raised the selling price and the commision to 7%. The MLS posting got more action on the house and sold in two weeks. Low commision is not always a bargain.
  • May 24 2010
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In Northern Virgina, most listing agents take a commission between 5% and 7%, although 6% is most common.  

Nearly all homes sell with a buyer's agent who is getting 3% commission.  If your agent is not offering 3% commission to the buyer's agent, you will be at a disadvantage relative to your competition.  Since nearly all agents split commission 50/50, then I would say that your best bet is 6%.

There are many factors that will help determine the final sales price of your townhouse, including how well it is marketed.  Paying 1% or 2% more for the right agent will probably pay off in the long run if your home is marketed correctly. 
  • May 23 2010
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The commission a brokerage charges varies and by law is negotiable, ie: no price fixing.
Having said that, in our area the commission will vary from as low as 1% to as high as 7%. Of course with that you get what you pay for. A discount broker may only charge 2.5% however they are not doing much to market and sell your home. This could be just a convenience fee for having your home appear in their local MLS. This may or may not be sufficient to get your home sold in a reasonable amount of time.
It is best to shop Realtors and compare not just the commission or amount you are paying, but rather the services as well and then determine who is best suited to sell your home. I hope this helps.

  • May 23 2010
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Profile picture for vabroker
That's always the first response to lower commissions from higher commission brokers.
  • May 23 2010
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Profile picture for dennygiza
In Northern Ohio we're 7% on the first $100K and 5% on the balance.
  • May 23 2010
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And remember that often - not always - you get what you pay for :-)
  • May 23 2010
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Profile picture for vabroker

We charge 4% total commission.  I see other folks charging as low as $195 for a flat listing to over 6%. We have a sliding scale depending if there is a cooperating broker in the transaction or not.

  • May 23 2010
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We charge 6%, but check with your local agents.
  • May 23 2010
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Right, It is not a violation of any rule or regulation to discuss range of commissions.  But since commissions are negotiable, there can be a wide range.  You can decide what level of service you want from a realtor and negotiate the commission based on that.  So, it could range between 2% and 6% or more. Generally, it is 6%, 3% for the listing agent and 3% for the selling agent. 
  • June 24 2009
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It is not a violation of the code of ethics for a realtor to discuss their commission. It is a violation of anti trust laws for realtors/brokers to fix their commissions to some sort of standard with another. Discussing it among themselves can be considered a violation of anti trust laws.

While we are not supposed to discuss compensation as local, regional or national standard in any way that could be defined as "setting standard rates", I can certainly advertise my rate of compensation.
  • June 23 2009
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Malloryk,

REALTOR Code of Ethics forbids Realtors to discuss commissions in public or private - therefore I cannot give you the range.

I can tell you though that the amount of commission you pay will depend  greatly on the brokerage company and real estate agent you employ to sell your townhouse, and on the type and quality of services you expect delivered. 

Commission is entirelely between You and Listing Broker/Agent you choose to employ.

  
  • June 22 2009
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