Quote:
Originally Posted by Ducay
How about asking it way; would one be severely out of line asking for a steep discount on their selling commission, given you'll be buying through them? And I'm speaking to industry "norms".
I can see a realtor making a small profit @ .75%, and then raking it in on the purchase, but not sure if such is commonplace.
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I don't think asking anything is "out of line", it's your hard earned money and any decent realtor respects that.
Having said that, we also respect what we put into our jobs, the costs of running our businesses and will have our own standards of what we are willing to work for. Everyone is different.
Don't be afraid to ask them detailed questions on their company fees, marketing budgets, expense costs etc. to help understand and justify the numbers too.
One of the things in our industry I find most misunderstood is that "average" commission rates are about the same with most agents, but costs & expenses vary considerably and most clients don't realize that.
An agent who spends $50,000 - $60,000/year in marketing/company fees is often charging you the same as the agent who spends <$10,000 so you have a right to know why & what advantages either may have.
I hold 2 real estate licenses with 2 different companies and my annual fees are about $1200 with one vs $25,000 with the other.
This cost and reasons for them is certainly information I make sure my sellers are aware of when justifying my rates to them.