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Real Estate Rates #4106925 05/26/16 06:30 AM
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AirgunSavant Offline OP
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I have a house I'm going to sell as things have changed and I'm downsizing
into one property. More is not better. What is a fair commission rate these days
for a house sale?

The house is in MD and on the large side as far as houses. Thanks!

Also its tough to figure out who to let sell it.......
I know one lady that I'm not really thrilled with but she would push the sale to the limit.
I guess that's what I should be most interested in.

Re: Real Estate Rates [Re: AirgunSavant] #4106935 05/26/16 06:46 AM
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04SE Offline
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5% to 7% is common around here. I use a specific agent for all of our stuff and she gives us a 4% rate to list for us.


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Re: Real Estate Rates [Re: 04SE] #4106938 05/26/16 06:51 AM
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AirgunSavant Offline OP
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Thanks that helps a bunch!!!!!!!!!

Re: Real Estate Rates [Re: AirgunSavant] #4106961 05/26/16 07:26 AM
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Donald Offline
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The less you tell the agent the better about your situation, why your moving or selling. Keep it a pure business discussion. In theory you should interview 2 or 3 with their market evaluations. Or better hire a bank appraiser to get you a realistic price. Some realtors will say anything to get a listing. I would shoot for 4%, you may end up paying 5%. They are all shysters.


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Re: Real Estate Rates [Re: Donald] #4106996 05/26/16 08:23 AM
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HerrStig Offline
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Originally Posted By: Donald
The less you tell the agent the better about your situation, why your moving or selling. Keep it a pure business discussion. In theory you should interview 2 or 3 with their market evaluations. Or better hire a bank appraiser to get you a realistic price. Some realtors will say anything to get a listing. I would shoot for 4%, you may end up paying 5%. They are all shysters.
Can't say I disagree. On an expensive house the broker WILL dicker on commission. Watch out for the old game of giving you a high estimate of the sales price and just to get the listing and then the grind down where you swear the agent is working for the buyer instead of for you.
A big reduction in sales price doesn't mean a big hit on commission and a lot of the big talking, fancy (leased) car driving "agents" are swinging from sale to sale, and are broke in between. I once saw a big talker get her Benz snatched by a repo guy right at a closing.
When you're buying a new house, there's nothing your agent likes to hear more than that your old house is under contract and you have to get out. Then you become one of the folks who can be force fed almost anything.
You should find out what the ethics requirements (LOL) are for agents in your state. Specifically, who IS "your" agent working for... you, the other party, or his or her firm, especially when there is only ONE agent involved. You might be surprised at the answer.

Last edited by HerrStig; 05/26/16 08:28 AM.
Re: Real Estate Rates [Re: Donald] #4107000 05/26/16 08:26 AM
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AirgunSavant Offline OP
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Thanks
I have been out of the market for several years.
My issue was always female relators acting like prostitutes.
I hated that part of the game. I just want a fair deal and I used to sell smaller houses
when I flipped them but this is my personal house and a bit up market and I find 99% of the people that wasted my time were not buyers but that was their hobby.

When I bought this house 5 years ago it was only 3 years old and literally destroyed
by the owners and it took me three years to bring it back. I worked on it at night and
it was something I don't want to ever do again. Building new is easier and cheaper.

I bought it online via auction. I sold the property to the builder originally and its in my neighborhood. So I felt obligated to bring it back.

Even a few years after the online auction, other bidders were coming by and trying to buy it at the auction price and checking on it daily- weird..........
I guess they have no clue I put 1000's of hours in it and $200K to boot.

I don't want a sign up either.
Every neighbor wants to be in your business. I don't look at what other peoples property is worth. I really hate that. If I'm not in the market- I mind my own business. I dislike nosey people!

Thanks guys.

Re: Real Estate Rates [Re: AirgunSavant] #4107003 05/26/16 08:27 AM
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racer12306 Offline
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We sold our house last year at 6%.

We selected our agent based on reviews from friends/colleagues.


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Re: Real Estate Rates [Re: HerrStig] #4107004 05/26/16 08:28 AM
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AirgunSavant Offline OP
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Yeah right on with that. I had them try that on my parents.
Wanted them to reduce the property $25K and she was working with a contractor and as you said she was working for everyone but the home owners... That's rotten!

Originally Posted By: HerrStig
Originally Posted By: Donald
The less you tell the agent the better about your situation, why your moving or selling. Keep it a pure business discussion. In theory you should interview 2 or 3 with their market evaluations. Or better hire a bank appraiser to get you a realistic price. Some realtors will say anything to get a listing. I would shoot for 4%, you may end up paying 5%. They are all shysters.
Can't say I disagree. On an expensive house the broker WILL dicker on commission. Watch out for the old game of giving you a high estimate of the sales price and just to get the listing and then the grind down where you swear the agent is working for the buyer instead of for you.
A big reduction in sales price doesn't mean a big hit on commission and a lot of the big talking, fancy (leased) car driving "agents" are swinging from sale to sale, and are broke in between. I once saw a big talker get her Benz snatched by a repo guy right at a closing.

Re: Real Estate Rates [Re: racer12306] #4107024 05/26/16 08:54 AM
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AirgunSavant Offline OP
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Was your market down in your area. I'm 50 miles north-east of inner city Baltimore- The country- Fair Hill MD.
Just 8 miles from U of D. Newark DE.

Originally Posted By: racer12306
We sold our house last year at 6%.

We selected our agent based on reviews from friends/colleagues.

Re: Real Estate Rates [Re: AirgunSavant] #4107027 05/26/16 08:56 AM
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wapacz Offline
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I work in real estate(photography) and the common rate I see in most coaching stuff that I have seen and what is in my area is 6%. You can get some agents to go down to 5%. The problem is this is a double edged sword becuase agents will choose to show a 3% house over a 2.5% house. So if they have to many showings to fit into the time with there clients guess which house gets taken off the list first.

As for choosing them. Go to Zillow look at reviews, look at the number of properties sold, look how much they have on the market, and look at the pictures they have of houses they have listed. Also make sure the person is a full time agent. I have seen to many part time agents that don't really know what they are doing. Basically it pretty much the same as finding a good mechanic. The good ones take care of there clients because that how you build business that is largely dependent on word of mouth and reviews.

Re: Real Estate Rates [Re: AirgunSavant] #4107029 05/26/16 08:58 AM
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You have some control over your seller's agent's cut, the buyers's agent percentage is usually written into the MLS and needs to be reasonable or it sends a signal you're not worth dealing with (and I would agree). Around here the traditional 3/3=6% is the norm 2.7/2.7 is common and 2.4/2.4 I saw a lot of too.

I listed FSBO and sold (I've done that 3 times) with 2.7 for the buyer's agent and got a few calls from buyer's agents looking to come through, so obviously that isn't too low around here.

FSBO is a lot of work.


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Re: Real Estate Rates [Re: bepperb] #4107076 05/26/16 09:58 AM
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AirgunSavant Offline OP
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I believe in paying for services.
So I'm not looking for a deal- just a fair deal and great representation.
That's it.

Re: Real Estate Rates [Re: AirgunSavant] #4107117 05/26/16 11:08 AM
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racer12306 Offline
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Originally Posted By: AirgunSavant
Was your market down in your area. I'm 50 miles north-east of inner city Baltimore- The country- Fair Hill MD.
Just 8 miles from U of D. Newark DE.

Originally Posted By: racer12306
We sold our house last year at 6%.

We selected our agent based on reviews from friends/colleagues.


I know exactly where you are. I'm in the same area.

We sold our house in Aberdeen and got our a** handed to us. We had only lived there for 7 years but we wanted to move out of the area and into our "forever" home. Sucked to write that big of a check, but in the end it's for the better. Seems we bought right before the housing values plummeted so we got the worst of it.


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Re: Real Estate Rates [Re: AirgunSavant] #4107121 05/26/16 11:15 AM
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Aren't there discount services for this type of thing? 6% is highway robbery.

Re: Real Estate Rates [Re: HerrStig] #4107123 05/26/16 11:17 AM
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Win Offline
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Originally Posted By: HerrStig
.... You should find out what the ethics requirements (LOL) are for agents in your state. Specifically, who IS "your" agent working for... you, the other party, or his or her firm, especially when there is only ONE agent involved. You might be surprised at the answer.


This.

In my state, if disclosed, an agent can "represent" both parties to the transaction. The conflict of interest is obvious. This is the typical case.

You don't want that - you want the agent working for YOU.

A typical residential rate is 6% and 10% on commercial; the latter is highly negotiable and typically is, particularly on a large sale.


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