Real estate commissions rise slightly
Kennth Harney's column from Sunday's Tribune reported that the average real estate commission on closed sales rose slightly last year for the first time in several years.
According to a review of revenue and cost data from hundreds of brokerages by the industry publication Real Trends, the average commission rose by nearly one-fifth of a point to just under 5.2 percent.
Sort of strange at first glance with the market weakness we're seeing but as I read the piece it's quite logical. The demand for the best real estate agents is higher when the market's tight and they can keep their commissions high. Also, when housing prices were rising it was easier to drop a commission because you knew the price would be larger even with a lower commission.
I found it interesting that many of these top sellers suggested increasing the Buyer's agent commission to entice more lookers. As a non-agent, how do or would an agent know the % commission that Buyer will get on a transaction?
posted by Peter @ 2:36 PM
2 comments
2 Comments:
On the MLS, the view that the agent sees is different from the view that the non-agents see. The agent view shows the commission breakdown.
Every real estate commissions are negotiable. There is no problem with discussing a commission, the aim is to make a decrease or come to a bargain on conditions in accordance with the requirements of companies you have done together in the last. Many Agents have implemented this system and have made a huge success.
100 Real Estate Commission
Post a Comment
<< Home