i know this has been covered before...but li real estate commision rate- (sale, houses)

[NOV49]

They pretty much told me you get what you pay for --- many won't bother if the commission is too low but that's exactly what they said.

[agw123]

Originally Posted by Elke Mariotti

Broker = think "company"
Agent = think "individual you will be working with"

Each side (listing and selling) has both...

Unless you agent is the broker/owner as well.

Got a better commission % this way.
Keep in mind this may not be possible with most places, especially the "chain" real estates. The local owner places have more flexibility.

[amyla]

I'm not an agent just trying to get informed about what each side will expect in commission when selling a house-

thanks again everyone for your replies-

[ovi8]

Originally Posted by twingles

We sold in Nassau last spring and paid 4%. Best money we ever spent

It was split between the selling and listing agent.

same, also in the spring.

[amyla]

Originally Posted by rh71

same, also in the spring.

do you know if the split was 2% each?

is it usually a 50/50 split?

[TomMoser]

Most often it is a 50/50 split, but it is up to the listing broker. The split is indicated on the listing form. At the time that you sign, make sure that the split is the way that you want it to be.

[ovi8]

^ yes 50/50.

[amyla]

Originally Posted by TomMoser

Most often it is a 50/50 split, but it is up to the listing broker. The split is indicated on the listing form. At the time that you sign, make sure that the split is the way that you want it to be.

has it been 50/50 of 4% 5% or 6%? what has been the commission rate these days?

[Elke Mariotti]

Originally Posted by amyla

has it been 50/50 of 4% 5% or 6%? what has been the commission rate these days?

As Tom pointed out previously, it's all negotiable.

I know of agents who won't show listings offering less than 2% commission to the selling side (right or wrong is not the issue in this thread ).

If you have a commission of 5% for instance, the split could be 50/50, 60/40, or anything in between; it's between the seller and the listing agent.

[Sienna Garden]

Not to ask a redundant question, but I too am wondering about what the "going rate" for the commission is. I know the rate is negotiable, but I also know that there is typically a rate that is expected/charged by common practice in a certain market.

I no longer live in the area, but am going to be putting a house up for sale in the very near future. The house is in Suffolk County. I have no idea what is typically charged for real estate commissions on L.I., specifically Suffolk County.

Also, what would be a reasonable length of time for a listing agreement (or whatever it is called in this market)?

Please feel free to DM as well with any info you can provide, I really appreciate it. I know you get what you pay for, but I also don't want my lack of knowledge of the real estate practices here to have me end up paying more than I need to.