NEGOTATE A PRICE LOWER THAN THE MSRP

[Booth9999]

Buyer AND seller agent at 12% is pretty killer for the agent. hehe

There is a ton of stuff that can be missed in a real estate deal. Having bought and sold dozens of properties, I still use an agent. It's just hard to have eyes on all of the process by yourself. That said, the people that got into real estate after about 2015 have no idea what it really takes to "be a Realtor". All they've had to do is shuffle paperwork and receive signed contracts. Just order-takers... like working at McDonalds. lol

2008-2010 seperated the men from the boys in real estate.

Dozens of properties but don’t know how the commission works eh? It’s 6% total commission 3%each side.

 

[New recaros]

Dozens of properties but don’t know how the commission works eh? It’s 6% total commission 3%each side.

That’s not true, broker gets 2% the selling and buying agent split the remaining 4% I believe.

 

[shigman]

It depends on the broker. Most of the big name brokers take a pretty sizable percentage. My wife worked for a mom and pop one. It was a bracketed flat rate on each house much less than 1-2%. The reason the big brokers take more is their marketing, and you're likely to get more business as a relator going through them. (remax keller williams etc) They just take more. For a side Hussle, the mom and pop brokers are the way to go for doing 4-6 sales a year. I've also seen 30 year veterans going to the mom and pop places too because they've got 30 years of self marketing under their belt/previous clients and don't need advertisements on TV.

 

[New recaros]

Maybe that’s a negotiable also. Still, like someone said, to sell and buy another, it’s 12%. That can easily end up over 100k in sales commission. For what, your house in the MLS book and a sign with an hang full of flyers. All we hear is affordable housing and they never touch this.

 

[shigman]

It isn't 12% though. If you buy a house without selling a house....example your first house. You pay nothing to the relator at all (at least in Texas), the seller of the house you buy pays 6%. Let say you have a 200K dollar house and win the lottery, sell your 200K house and buy a 10 million dollar house. You pay the 6% on the 200K and nothing on the 10 million. The seller of the 10 million dollar house pays 6% and splits it with your relator that sold your 200K house because they also helped you buy the 10 million dollar house (house showings, negotiations, and paperwork). My wifes last clients, she wasn't involved with the selling of a previous house only the purchase of a new one. She got a little under 3% paid out of the sellers 6%.

 

[New recaros]

It’s baked into the price of the new home. In others words, if the commission was 0 you could buy the house for 6% less. So, yes you are paying 12%

 

[XSTNKT]

Dozens of properties but don’t know how the commission works eh? It’s 6% total commission 3%each side.

I wasn't referring to residential real estate...

 

[Keith88]

 

[shigman]

All commissions are technically negotiable. Things can vary state to state. We talked our last house sell down to 5% commission (we had previous business with the agent).

 

[Booth9999]

It’s baked into the price of the new home. In others words, if the commission was 0 you could buy the house for 6% less. So, yes you are paying 12%

Nope. This is wrong.