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That depends on the services being provided. 6% total (3% to Listing agent and 3% to selling agent) is competitive. anything higher will invite more desperate listing agents. anything lower will not attact agents with qualified buyers.
As a Realtor in Florida I charge what a seller agrees to pay me and what seller agrees to co -broker.
The commission rates of my firm are based upon the cost of the services we provide, the value of these services to our clients, customers and the competitive market condition. Our commission rates are not determined by agreement with , or recommendation or suggestion from, any person not a party to a listing agreement with our firm.
On properties of 5 million or more I can lower them to 4% if I can list and find a buyer. I can go to as low as 5%
if I list and another agent brings me the buyer....But I only take 2% and give the other agent his full 3%....
Commission rate is negotiable, the more important thing is the service that the Realtor will provide.
Realtors are typically permitted to ask what they believe would be of best interest for the seller, There is always a sweet spot where all is fair, you must remember that that commission will have a direct influence on the buying side and who and how many will actually see your home. It is always best to have as much interest in your home as possible, this would certainly be diminished with a commission that was too low. Don't forget that part of the equation is sellability of the home , which is influenced by the market,, the area the size and price.. not all homes are equal. And your basic question did not mention if this was bare land , commercial or a mansion .. there are countless variables. Don forget one can Google almost anything.
The commission rate is negotiable but sometime the lowest rate doesn't get you the best service. The agent you want is the agent who will sell your home in the quickest amount of time and for top dollar, after you find that agent I would then discuss the commission with them.
Many consumers believe that it is best if they can find a commission rate that is lower. However, what they should be concerned with is what the results will be at the end of the transaction. You want an agent that will get you the most money if you are a seller. If you are a buyer you want your agent to look after your best interests so you get the home of your dreams for the best price and terms. If you have to have brain surgery do you want the cheapest surgeon or the best? Buying and Selling a home is one of the largest financial transaction you make. Make sure you get the best agent. Best wishes.
All commisions are negotiable. Find the realtor thats right for you. In this business you will get what you pay for!
Typically, in my area it is 6%. There are discount brokers/realtors who will charge less, but you get what you pay for!
The laws in Florida will not allow for agents to agree with each other on what the rate of commission will be.
Therefore, the consumer deals individually with an agent and then agree on the rate. Remember, that if the seller agrees to a rate with the listing agent and another agent brings a buyer, that rate goes partially to the buyers agent. Most of the time the Seller pays the commission.
We (As Realtors) are restricted from talking about commissions due to the laws. I will say that all commissions are negotiable between you and your Agent.
As a buyers agent we are paid by the Seller, so there is no fee do from the buyer. As the Sellers agent the normal fee is 6%. 3% goes to the listing Broker and 3% goes to the Buyers Broker. Hope that helps.
As Professional Realtors we are not permitted to discuss rates. You can speak with your friends and neighbors and find out what they paid. Then interview a few Realtors and talk about commission. All commission is a negotiation.
Coldwell Banker Camelot Realty 6%
The rates are negotiable. The norm is (6%) 3% for the seller's agent & 3% for the buyer's agent . I only charge 5% to 5.5% to list and sell & it gives me more incentive to find a buyer as well.
We own a commercial building/property in Brooksville, Florida that is an operating Variety Store. I want to sell as an operating business and include inventory and fixtures Can a real estate broker legally take commission on our personal store inventory which has a separate value from the building/property price when he /she lists it ?
The rate is negotiable. The norm is 6%. I charge 5% to list with an added incentive discount if I capture the buyer
Commission is the compensation that an agency receives for provide a service to the seller and buyer in any real estate transaction. Average is going to be 6%. Remember that this fee pays for a multitude of services. If you want to negotiate this you will also be negotiating the service you will receive !!!
The norm in Miami, FL, where I practiced Real Estate before coming to the South Bay is a 6% commission rate, which of course is negotiable. Sometimes I would see listings commissions set at 5%, and then others for 7%, depending on the type of deal and property. But in most cases it was 6%.
There is not a set amount that Brokers Charge. The rate is Negotiable and in most cases you get what you pay for. Always ask what the" fee for service" is and don't be afraid to check with multiple agents. I'm available to talk if you have more questions.