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Clint Torres
New Orleans Pelicans Fan
Member since Oct 2011
2124 posts
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Question about negotiating commission with realtors
Is it customary to negotiate downward from the standard 6%? Are realtors more likely to accept 4-5% if the house is more expensive? The market is pretty hot here right now and it seems somewhat crazy to pay $40+k in commission if the house can sell pretty easily.

Any thoughts?

This post was edited on 3/25 at 2:02 pm


go ta hell ole miss
New York Yankees Fan
Member since Jan 2007
9790 posts
 Online 

re: Question about negotiating commission with realtors
If it’s so easy to sell then why hire a realtor? Try to sell it own your own since the market is hot and it’s easy to sell.


geauxfish24
LSU Fan
Member since Feb 2008
1898 posts

re: Question about negotiating commission with realtors
Everything is negotiable. If a realtor doesn't want to negotiate commission fees, then either they don't need your business (unlikely) or they are dumb (more likely).



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190
Clint Torres
New Orleans Pelicans Fan
Member since Oct 2011
2124 posts
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re: Question about negotiating commission with realtors
Generally seems like potential buyers would be more comfortable when a house is fully listed w/ an agent especially at this price point. And probably more likely to get visits from potential buyers who are working with an agent. Am I imagining that?
This post was edited on 3/25 at 2:12 pm


Paul Allen
Notre Dame Fan
Montauk, NY
Member since Nov 2007
67763 posts

re: Question about negotiating commission with realtors
Pay $750 for a flat fee listing agent.

Then pay 2-2.5% of the buyer’s agents commission instead of paying 5-6%.


Clint Torres
New Orleans Pelicans Fan
Member since Oct 2011
2124 posts
 Online 

re: Question about negotiating commission with realtors
quote:

Then pay 2-2.5% of the buyer’s agents commission instead of paying 5-6%.


That's interesting... have you done that successfully?


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41
Epaminondas
LSU Fan
The Boot
Member since Jul 2020
1244 posts

re: Question about negotiating commission with realtors
There may be a realtor who will, for a very small fee, just list it on MLS for you and set up the key box so other realtors can show it.

They don't handle anything else. You're basically your own realtor. But you can set it up where a buyer's realtor gets a commission if they sell your place. Then the whole commission would be 3% - or you could even set it less. Buyers' realtors can show the house after getting your approval.

A realtor who would provide this listing only type of service is usually someone who doesn't primarily go out to get houses to list but who buys and sells properties on their own. It's beneficial for them to be their own realtor. So, they're realtors but that's not really what their business is.


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100
Epaminondas
LSU Fan
The Boot
Member since Jul 2020
1244 posts

re: Question about negotiating commission with realtors
quote:

Pay $750 for a flat fee listing agent.

Then pay 2-2.5% of the buyer’s agents commission instead of paying 5-6%.
This is what my long rambling comment is supposed to say.


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100
LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
6807 posts

re: Question about negotiating commission with realtors
quote:

Am I imagining that?


Nope- it doesn't matter the price point, and even though it's illegal/unethical, realtors don't want to 'deal with' FSBO, so they pretty much blackball those listings, at least that's my experience.


AUHighPlainsDrifter
Auburn Fan
South Carolina
Member since Sep 2017
849 posts

re: Question about negotiating commission with realtors
quote:

realtors don't want to 'deal with' FSBO, so they pretty much blackball those listings, at least that's my experience.


I think that pretty much goes out the window if there is a shortage of inventory in the area. They're just happy to have something to sell to their clients. At least, that was my experience when I sold my house a few years ago.
This post was edited on 3/25 at 4:05 pm


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30
Hankg
Member since Feb 2011
561 posts

re: Question about negotiating commission with realtors
Personally if my house was in a “hot” market I would get two or three realtors to come give me a price they thought I would be able to get and talk lower commissions with them. No obligation to use them. Then avg those and get a “quick” drive by appraisal done which is usually pretty cheap. Then I would FSBO for the price I came up with from realtors and appraisal. See if quick offers come in. If not offer 2-3% for buyers agents. No reason in my mind to pay large commission if I don’t have to.


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30
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
81252 posts

re: Question about negotiating commission with realtors
I would do FSBO, let a realtor bring you a family and give them between 2-3%. Did this on the hold I sold last summer, gave the realtor 2.5%. He showed my home on Saturday night for an hour, and sent me an offer Sunday morning.


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41
LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
25386 posts

re: Question about negotiating commission with realtors
I've never used a realtor.

But the concept of negotiating with a professional is curious to me.

Do you negotiate fees with your attorney? Banker? CPA? Doctor?

They are providing a service. If you don't want/need their service, fair enough. But if you do, pay them what they are worth.


SlidellCajun
LSU Fan
Slidell la
Member since May 2019
4566 posts
 Online 

re: Question about negotiating commission with realtors
It depends

What expenses has the realtor incurred?
If they’ve spent money advertising your house then it’s rude to ask them to cut their commission. If they haven’t spent much and haven’t spent a lot of time showing the home then maybe ask to cut the commission.

Good agents are worth their commission but they’re few and far between.
There are a lot of bad agents though.


Epaminondas
LSU Fan
The Boot
Member since Jul 2020
1244 posts

re: Question about negotiating commission with realtors
Attorneys, CPAs, and doctors aren't the same as realtors. The requirements and education that go into being a realtor are very low. It's nothing like medical school or the CPA exam.

Also, as bad as people think lawyers are, the shite realtors do would get an attorney disbarred in no time. Their whole "profession" is based on conflicts of interest. A realtor "representing" a buyer gets paid based on how much her "client" pays.


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214
EA6B
Navy Fan
TX
Member since Dec 2012
12113 posts

re: Question about negotiating commission with realtors
quote:

I've never used a realtor.

But the concept of negotiating with a professional is curious to me.

Do you negotiate fees with your attorney? Banker? CPA? Doctor?

They are providing a service. If you don't want/need their service, fair enough. But if you do, pay them what they are worth.


Right now in major markets realtors are worth almost nothing, and non of the professionals you have listed work on commission, and I have negotiated price with specialists for non-insurance covered porcedures. same for the CPA, as long as my filing doesnt require additional schedules the fee is fixed no matter how much money i make.



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80
EA6B
Navy Fan
TX
Member since Dec 2012
12113 posts

re: Question about negotiating commission with realtors
quote:

What expenses has the realtor incurred?
If they’ve spent money advertising your house then it’s rude to ask them to cut their commission. If they haven’t spent much and haven’t spent a lot of time showing the home then maybe ask to cut the commission.


the commission is usually negociated before the listing contract is signed, so the agent has done nothing at that point.


Sput
Auburn Fan
Member since Mar 2020
2562 posts

re: Question about negotiating commission with realtors
99.9% or realtors aren’t dumb as dog shite. That’s all I got


blueboxer1119
LSU Fan
Baton Rouge
Member since May 2013
3528 posts
 Online 

re: Question about negotiating commission with realtors
quote:

Pay $750 for a flat fee listing agent.

Then pay 2-2.5% of the buyer’s agents commission instead of paying 5-6%.





This. I use Paige Knobles in BR and she does full listing for 1% +2.5% for buyers agent, so 3.5% total.

And she's great.


frick 6%. Thats laughable people pay that.


ItzMe1972
Member since Dec 2013
5737 posts

re: Question about negotiating commission with realtors
Higher price should be lower comission.

Not sure anyone is paying 6% these days.


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