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Started By
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real estate commission, what does this statement mean to you?
Posted on 6/8/16 at 9:07 pm
Posted on 6/8/16 at 9:07 pm
"Normally I charge 6% but I'll do yours for 5%"
Signed,
Family friend
Isn't it 6% total, 3/3 split?
Signed,
Family friend
Isn't it 6% total, 3/3 split?
This post was edited on 6/8/16 at 9:28 pm
4
Posted on 6/8/16 at 9:19 pm to Kujo
it is, so they're gonna take 2% now if they get both sides of the deal its 6%. A good friend of mine tried to play it off and said you worry about the other 94% and let me worry about the 6 lol
Posted on 6/8/16 at 9:28 pm to dabigfella
But wouldn't you say "my share" 2.5% versus 5%
Posted on 6/8/16 at 9:42 pm to Kujo
No. The commission split between the seller's agent and the buyer's agent is determined by them. Typically they'll split it 50/50 but not always.
Posted on 6/8/16 at 10:04 pm to Golfer
It's all negotiable.
Posted on 6/8/16 at 11:13 pm to Kujo
5% (2.5% split) is extremely common.
4% is a deal, but also not necessary unless you're very busy and/or in a hurry.
Try FSBO first. It's a sellers market.
4% is a deal, but also not necessary unless you're very busy and/or in a hurry.
Try FSBO first. It's a sellers market.
Posted on 6/9/16 at 2:28 am to TigerDeBaiter
I rarely see agents charging 6% now. Also, if you allow your agent to be a dual agent, make sure to state a different percentage.
Posted on 6/9/16 at 7:16 am to Kujo
Your paying a total 5% commission.
Your agent should take 2% and offer full 3% to buyer, otherwise, he's really only taking .5 off and passing other .5 off to buyers agent.
If truly a sellers market, use an agent over FSBO, if you've never worked a multi offer situation a competent agent is worth his weight in gold. I'd be more inclined to FSBO in a buyer's or neutral market, JM2C.
I typically do 4% or 4.5% for all my sellers, ALWAYS offer 3% to buyer broker, and if no broker is used on the buyers side, I split that earmarked 3% 50/50 with my seller, however I NEVER create agency with the buyer. All my duties stay with my seller, I assist buyer with all duties owed and make sure timelines are met and contract is honored, but NEVER create agency, even though technically I work both sides of the contract to protect my seller.
Your agent should take 2% and offer full 3% to buyer, otherwise, he's really only taking .5 off and passing other .5 off to buyers agent.
If truly a sellers market, use an agent over FSBO, if you've never worked a multi offer situation a competent agent is worth his weight in gold. I'd be more inclined to FSBO in a buyer's or neutral market, JM2C.
I typically do 4% or 4.5% for all my sellers, ALWAYS offer 3% to buyer broker, and if no broker is used on the buyers side, I split that earmarked 3% 50/50 with my seller, however I NEVER create agency with the buyer. All my duties stay with my seller, I assist buyer with all duties owed and make sure timelines are met and contract is honored, but NEVER create agency, even though technically I work both sides of the contract to protect my seller.
Posted on 6/9/16 at 7:55 am to Kujo
We sold our house on Zillow in one day. (Had over 2000 views in a week) Buyers had a Realtor and we paid him 2% which we thought was acceptable for a full price offer.
Posted on 6/9/16 at 1:01 pm to ItNeverRains
I would be happy if I could make 1% of the deal as a mortgage loan officer. they reformed the way I get paid years ago but left real estate agents alone. I always said its because real estate agents have better lobbyist !
Posted on 6/9/16 at 2:24 pm to hawkeye007
Our lobbyists are 600 lb. Gorillas with chainsaw for penis
Posted on 6/9/16 at 3:30 pm to ItNeverRains
shite I think you are selling them short. 1200pound silverbacks with laser guns for penis's.
Posted on 6/9/16 at 7:00 pm to hawkeye007
I lol'd. and upvoted
Posted on 6/9/16 at 7:04 pm to ItNeverRains
quote:
Your agent should take 2% and offer full 3% to buyer, otherwise, he's really only taking .5 off and passing other .5 off to buyers agent.
Sounds great in theory until you realize that they still have to pay to market your house. So I guess asking them to do that would be good if you don't mind letting their profit point.
This post was edited on 6/9/16 at 7:06 pm
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