Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
On CNN this morning they said that realtors are dropping their commission to either 5 or 5.5%. I can't get anyone below 6% so far. Any feedback from others on the percentage you are paying?
Hubby is a realtor, I'll only pay 3% when we stick it on MLS.
We are selling our house in NJ, our agent charged us 5%. We listed in mid-April, and signed a contract in early June. We just got through attorney review last week, now this week the buyers have their home inspector coming. Just that and hope they get their mortgage....They want to close Aug. 18th, if all goes well we'll be NC bound the 19th.
On CNN this morning they said that realtors are dropping their commission to either 5 or 5.5%. I can't get anyone below 6% so far. Any feedback from others on the percentage you are paying?
You should not pay more than 5% in today’s market. If your realtor wont accept 5% find one that will, 6% is no longer the norm. They will try to intimidate you into accepting their 6%, with a BS story about how other realtors wont show a property if the split is less than 3%. Since most buyers are using the internet to search for houses, realtors no longer have this leverage on what they show.
You should not pay more than 5% in today’s market. If your realtor wont accept 5% find one that will, 6% is no longer the norm. They will try to intimidate you into accepting their 6%, with a BS story about how other realtors wont show a property if the split is less than 3%. Since most buyers are using the internet to search for houses, realtors no longer have this leverage on what they show.
No true. Last year this was. Not now. There are more houses than buyers now. 6% is coming back to get the Broker to do more to sell the house. Most of the public doesn't realize this, but SOME agents will not show a house unless they get 3% and all the do when you walk in and ask for a MLS print out is click the box (3% listings) and only those show up and youe house gets over looked. This is done ALL the time. Don't let anyone kid you it doesn't. The public thinks this doesn't go on to get the lower % on the sale. From personal knowledge, I have sat there on speaker phone and heard agents tell Realtors raise the % to 3 or I will not show it today. So to "assume this is a myth or "BS" your wrong "respectfully".
Ps. I know first hand. I know agents personally. From friends (neighbors) to family.
Last edited by TornadoAlley; 06-24-2006 at 02:25 PM..
We are selling our house in NJ, our agent charged us 5%. We listed in mid-April, and signed a contract in early June. We just got through attorney review last week, now this week the buyers have their home inspector coming. Just that and hope they get their mortgage....They want to close Aug. 18th, if all goes well we'll be NC bound the 19th.
That brings up another question..when you buy and sell in some states it is handled totally by the RE company. Other states you MUST have a lawyer to do either. What is it in NC? Lawyer required?
No true. Last year this was. Not now. There are more houses than buyers now. 6% is coming back to get the Broker to do more to sell the house. Most of the public doesn't realize this, but SOME agents will not show a house unless they get 3% and all the do when you walk in and ask for a MLS print out is click the box (3% listings) and only those show up and youe house gets over looked. This is done ALL the time. Don't let anyone kid you it doesn't.
I can go on the internet and get all the listings any broker can. If a broker were to tell me they wont show a house then I will get a new broker that will.
I can go on the internet and get all the listings any broker can. If a broker were to tell me they wont show a house then I will get a new broker that will.
Re-read. You don't know. They check the box on the MLS and it shows 3% listing only. Yes, there is a box for this. Then he says. "Here Red, here is your list let me know what you want to see)
As for finding online any house. Your not 100% right. The agent must first list the house on the local MSL then if he/she chooses to list it online (again, box checked) then it gets listed online (IE; Realtor dot com). The agent then again must notify and additional listing when house is sold. This is why you hear when an agent says online isn't accurate is because its only as accurate as the agent is on the ball.
Ask around. You'll find out I am telling the truth. I did take the RE course (4.0 grade) although, I am not an agent.
Last edited by TornadoAlley; 06-24-2006 at 02:37 PM..
Re-read. You don't know. They check the box on the MLS and it shows 3% listing only. Yes, there is a box for this. Then he says. "Here Red, here is your list let me know what you want to see)
As for finding online any house. Your not 100% right. The agent must first list the house on the local MSL then if he/she chooses to list it online (again, box checked) then it gets listed online (IE; Realtor dot com). The agent then again must notify and additional listing when house is sold. This is why you hear when an agent says online isn't accurate is because its only as accurate as the agent is on the ball.
Ask around. You'll find out I am telling the truth. I did take the RE course (4.0 grade) although, I am not an agent.
Any agent that isn’t smart enough to make sure that his or her listing is accessible to anyone searching on the internet wont be in business much longer in today’s market.
Also any agent that is representing a customer and shows only what he/she will make the most commission on, had better hope the buyer doesn’t have internet access, or a car to drive around in the neighborhoods their interested in. The days of the realtors having all the power is over, most buyers are doing their own searches, online, print advertising, or driving around neighborhoods.
On CNN this morning they said that realtors are dropping their commission to either 5 or 5.5%. I can't get anyone below 6% so far. Any feedback from others on the percentage you are paying?
We just listed our house & made a deal with our realtor: 3% if he sells it; 4% if an outside agent sells it(so they both get 2%); & 2% if we sell on our own. Remember, the prices of houses on Long Island are very high. That's a big chunk of change no matter how you look at it!! 4% of 600K = 24K!!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
