Selling a house, real estate commission

[caver]

It's going to happen soon for me. Part of me is tempted to sell by owner but it may be worth the extra money to hire an agent. I sold my last home in my late 20's and lots of time has elapsed. I didn't know then that the commission can be negotiated. I understand 6% is the norm but I know people negotiate way lower. I'm curious if you sold a home in the past few years if you negotiated.

 

[Hay Dude]

Selling my home of 15 years in June. I negotiated a 4% commission.

 

[caver]

I hinted two realtors I was going with 5% but that was 6?? months ago. One is a girl I know from many years ago. She works for Century 21...other I heard is young hot shot realtor who works for local office.

 

[stumblinhorse]

I paid 3.1% on my last sale. 1% seller, 2.1% buyer agent. There will be 1% seller agents out there. Just have to find them and get references. In a bad market I don’t know how it would work. My last property had 3 offers in the first 4 hours of listing. So easy money, not sure these days.

 

[Snobdds]

I am in the process of buying 4 more rental homes. I told the seller I will pay all closing if we don't use a realtor. It's not hard.

It's saving me close to 40k.

I will not give realtors any money for what they did to the housing market. They overinflated it without a thought to what they were doing.

I'm sorry but every realtor I know feels they should drive a new escalade every two years...that mentality has to stop.

 

[Hay Dude]

I am in the process of buying 4 more rental homes. I told the seller I will pay all closing if we don't use a realtor. It's not hard.

It's saving me close to 40k.

I will not give realtors any money for what they did to the housing market. They overinflated it without a thought to what they were doing.

I'm sorry but every realtor I know feels they should drive a new escalade every two years...that mentality has to stop.

I sold my first 2 homes. It was pretty easy. I did my settlement at a local title agency my lawyer buddy owns.
This one I’m letting someone sell for me. Got too much going on.

 

[stumblinhorse]

Depends on the area, but realtors told me that would not show my property at 2.1%. I said that was fine with me, but I hoped to run into their clients after mine was sold and let them know their realtor filtered out my property because of the agents greed. In a down market I don’t know how it would impact showings and sale.

 

[Dftodd]

It's going to happen soon for me. Part of me is tempted to sell by owner but it may be worth the extra money to hire an agent. I sold my last home in my late 20's and lots of time has elapsed. I didn't know then that the commission can be negotiated. I understand 6% is the norm but I know people negotiate way lower. I'm curious if you sold a home in the past few years if you negotiated.

It really depends on the area your in. I was thinking the same thing around 6% when we listed our home almost 2 years ago. We were actually at 3%, and 5% if a second realtor was involved.

Average going rate around here the past year when shopping for a home was between 2 and 3%.

Sellers commision when we purchased our property a few months ago was 2% split between the two realtors.

 

[ericm979]

In my admittedly limited experience a good seller's agent is worth the commission.

In a normal (not hyper competitive as it has been in the past) environment our agent managed to engineer a bidding war between about 10 buyers with 4 submitting multiple bids. The place went for about 25% more than we expected. Before that he had really good suggestions on where to spend our limited money making the place look good.

Usually the 6% is the total for both agents as the buyers agent gets part of it. It may be different in your state.

 

[ultrarunner]

Bought and sold with and without and a good agent is worth compensating...

In in era of overbids, too many for sale by owner sellers miss out.

In a down market I found offering a full commission to buyers agent drives exposure.

A play I've used when offers come in lower than list is simply saying if I'm accepting less, brokerage will also need to accept less...

Another is when agent is the same for seller and buyer where allowed the commission is reduced since the same person is getting both sides.

No right or wrong answer...

A very successful investment Real Estate firm pays full commission on deals even though they could take a portion.

The owner said I want agents to come to me with the best offerings knowing they will be protected... over the decades it has worked very well.