Real Estate Agents

[shane_c]

How much does a real estate agent look for when selling a home? We haven't been in our current place long so we wouldn't get much money from the sale so what we do get I don't want it all going to their commission.

[brownie]

I think its around 10% of the first 100,000 then 7% for the rest.Its in that ballpark anyways.Way too much money IMO.

[TurnedTheCorner]

Standard commision is 10% on first 100K, 5% on the balance. If you can't afford that, do a welist or something. Realtor's are worth the money IMO if you find a good one. They can at least help you price your home in the marketplace, which can go a long way to selling it.

EDIT: Whoops, it is 7 and 3. Thanks for the correction.

[Red]

The standard is 7% and 3%. Split between both realtors. You can negotiate, but only your realtor should take the hit, otherwise your house won't get any viewings.

It's very common to do 5/3% with 1.5/3 going to your realtor.

[Nicole]

My friend is using Comfree right now and she likes it. For around $500 (I think), they come in and take all the measurements of your house and then take pics and put it up on their website and they give you a for sale sign with your phone number.

Of course getting a real estate agent is more convienient b/c they take care of the viewings and a lot of the other little things but Comfree is worth it if you don't want to be paying out commission.

[automaton 3]

10/5 would be on the very high side - you'd better be getting a real estate ace for that level of commissions.

7/3 is the standard, with some realtors going down to 6/3 or even 5/3 for good customers/ repeat business.

Remember if you're listing a house, the commissions are always negotiable. However, sometimes you get what you pay for. Scout around and do your due diligence when picking a realtor.

[Nabber]

Originally Posted by Red

The standard is 7% and 3%. Split between both realtors.

That is correct 7% on the first 100,000 + 3% on the remaining balance, some of those other commissions were really high. I've done 8% and 3% as my highest rate just to offer a little more to the agent that brings the buyer.

[V]

10%/5% would be insanely expensive. As if they aren't bad enough as it is.

That would be 22,500 on a 350k house. Yikes.

[TurnedTheCorner]

Thanks for the corrections, guys. My bad. 7 and 3 it is.