Any Realtors, Real Estate Agents?

[Zhadman]

What commission do agents typically take on a home sale? I know the percentage varies, but I have heard that some agents/realtors can make upwards of 25%. Is that true? I always thought it was in the 6-10% range.

[Mayolives]

South Carolina.....6/7 percent on house sales and as much as 10 percent for lot sales. Commission varies on large tracks of land and is often negotiated to a set amount.

[Peternell]

Not a realtor but deal with many through work.

5%-6% is typical on homes sales [around here due to hot market some negotiation happens for lower rate]

Vacant commercial land can be 5%-10%.

I'm sure others will chime in

[SHO-Z]

It all depends on if you are the listing agent. It could be from 2 to 6% if you own your own firm.

 

Nothing is set in stone, in a hot real estate market the seller can negotiate lower percentages. Most of the time the Company get their cut, the listing agent gets their cut and the selling agent gets thier cut.

[RB26240Z]

If I take a listing to sell a home it's usually 4.5% of the selling price. If another agent brings a buyer, I split the comission (2% my rate, and 2.5% buying agent).

 

If I happen to have a client that is interested in that listing, I only charge 3.5% total, and rebate the 1% back to the client.

 

Everyone has their own fees, however an agent will not be able to negotiate too much on the commission, where as a broker will be able to negotiate aggresively on the commission (as I have done in the above example).

 

The typical market rate for So. Cal. is 5%, and that is split between listing agent and buying agent. Even if the same agent represents both buyer and seller, they still charge 5%.

 

Finally, just like any other commodity, it is a supply and demand driven cycle, and commission rates vary, based on competition.

 

Henry

[Zhadman]

Thanks for all your replies. Gives me a good idea what they take. I thought 25% seemed a bit... insane!

[DemonZ]

Here in WA, it's about 7.5% TOTAL for residential RE. Listing agent usually splits half with buyer's agent. Then each agent has to split 50/50, 60/40, 70/30, etc... with their own brokerage they work for. Nothing is set in stone (until you sign the contract) and it's all negotiable, but that is pretty much what you'll find.

[Lewis Maudlin]

In the midwest most charge 7% total. This can be negotiated in some locations. However, people are beginning to use internet listings that charge a flat fee. Just make sure that if you use an internet company that they get you in the local MLS multiple listing service.