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In the current market in the Central Florida area, the going rate for an agent's commission is 3% for the buyer's agent and 3% for the seller's agent. This can vary though based on the level of experience of the agent and what they bring to the table.
Keep in mind, the buyer's agent and seller's agent typically split their commission with their broker. So, it doesn't all go to them.
Also, agents only get paid at the time of closing. Meaning, if a real estate agent works with a buyer or a seller for months (taking time away from their families, spending money on gas, advertising and marketing) without a resulting transaction, they are not paid for their time.
Hope this helps as you consider hiring an agent!
In the current market in Central Florida, the going rate is 3% for the buyer's agent and 3% for the seller's agent. Depending on the level of experience and what the agent is bringing to the table will help determine if it is more or less. You also should know, that 3% is typically split between the agent and the agent's broker.
Also, agents are only paid at closing. Meaning If a real estate agent works with a buyer or a seller for weeks or months at a time (taking away time from their family, spending money on gas, advertising and marketing) without closing a transaction, the agent is not paid for their time.
It depends on what type of property you are selling. Vacant land, residential and commercial can be different amounts. Why not call some realtors and ask them?
You know the old saying....Everything is negotiable! In Florida, there is no standard commission rate. You really need to consider what the agent is going to do for you to sell your property, since that is where the rate is set for buyer and seller's agent. If your Realtor does a great deal of marketing of your property, she/he is spending money out of pocket to advertise for you. There are a number of factors to consider when negotiating commission- mostly the value that the Realtor brings to the table.
I have noted that most of these posts say the commission is negotiable and it is up to the agent. Well in my world the standard commission rate is decided by the Broker/Owner of the Real Estate Company you represent. It can be negotiated but has to be approved by the Broker.
Commission rates are negotiable, that is the simple answer. The harder answer is what will your agent do for the commission. A low commission with no marketing plan and very little exposure, doesn't help you sell your home for top dollar. Interview a few agents and see the differences. Good luck.
Dixie, your question is a question that is asked often. People want to know what the commission rate is when they consider listing their home for sale. There actually is a more important question that should be asked and that of the agent you are considering to hire to list your property. That question should be what will you do to sell my house for the highest selling price in the shortest period of time? I can discuss the value to you of having an agent that will maximize your outcome as opposed to deciding on the amount of commission. Contact me for complete information that will help you make a wise decision. Best Wishes.
This can vary from agent to agent. Remember there is a listing agent and a buyers agent. A Florida agent is not suppose to even say "the going rate is usually....". You can ask around, and get an idea, but it is negotiable. You may tend to find the higher the value, the more you can negotiate, but not always. Keep in mind that there is a listing agent and a buyer's agent (which can be the same if you buy the house from who lists it) but if you don't buy from the listing agent, the commission is usually divided in half. Forgive me if this is very obvious to you, wasn't sure if you were listing or looking to buy. I would be happy to help in more detail if you need. Sorry to be so vague, there just isn't a set number that can be given for all Florida realtors. Please feel free to contact me with any questions you may have. Good luck!
Commissions are negotiable. There are no set fees but you get what you pay for.
I'm an agent in the Midwest trying to find out what commission was offered on a listing in Naples on a house that closed about a month ago, I have potential sellers in that area that are curious as they may be selling , how do I find this information out?
As everyone before has stated, fees for a realtor are negotiable on a transaction by transaction basis. Typically the home seller pays the commission on the sale of their home. Keep in mind that many times you get what you pay for. If you are selling your property you want to hire an agent that will market the property and work hard to consummate the sale. Good luck.
Hey Dixie, this is often asked. In Florida there is no set commision rate. This can be negotiated with your realtor. Please contact me if you need anything else.
Good question Dixie! In Florida there is not a set commission rate. There are a lot of different ways to negotiate commission rates. You can ask for a discount if the listing agent brings the buyer to give a discount, you can offer any rate you want to both sides. The agent that may negotiate a higher commission for a listing, may also just be the agent that would negotiate a higher selling price for you in the end. Take time to listen to why they have a rate in mind and what they may have to offer over other agents. Keep in mind they are working for you, and I'm sure willing to listen to what you think is fair as well! Good Luck!
This is a common question- the best answer is - all Realtors operate in a free market, meaning there is no "standard". Just as real estate prices can be negotiates so can commissions but please keep in mind Realtors do get paid until they negotiate a satisfactory deal for their clients. A Realtors commission will often reflect how much they will invest in getting you the best deal- as in any business deal the best one is a Win Win situation for Buyer, Seller, AND Realtor.
Hi Dixie - also keep in mind commission fee's sometimes can be negotiated depending on the market!
Brokerage fees are negotiable. There is no fixed commission rate. Broker Transaction fees are common in addition to a commission percentage. Those too are negotiable. If you care to know what my policy is regarding rates and fees, give me a call. Also, when you speak to any Agent regarding fees, remember to ask what their commission split is. Why? Call me and I'll explain.
Commissions are negotiable in a real estate transaction. Please discuss this issue with your realtor.
This country is great because there is competition. There are full service brokers and discount brokers. You have to decide what makes sense for your goals. Whatever you pay make sure you hire a true professional.
Commissions are negotiable
Hi Dixie - there are definite standards within the industry that each and every Realtor/Brokerage do their best to follow!