What is a fair real estate commission for selling and then buying a house using the same broker?
I am selling my house and going to be another house using the same real estate broker. Her fee is 6% to sell my house, and then she said tht the fee would be set by the other seller of the new house.
Is there any fee discount that I can arrange with her if she is getting money on both ends? The houses we are selling and buying are both in the 0k- 0k range. If so, what would look like?
July 25th, 2010 at 10:06 pm
Sounds like two transactions.The seller of the other house pays her commision .If her performance failed to get the house you wanted and it was her fault then I would ask for a discount.The sellers RealEstate Fees are negotiable at the time before signing the listing.Talk it over with her and her broker and see if they will give a little.
July 25th, 2010 at 10:06 pm
Look if she want to list your house you tell her this.
She gets 4% for being both seller/buyer broker.
You will pay 5% if she is just the buyers broker with her side getting 2%.
If she won’t take the listing plenty of others will.
Even in a soft market there are tons of agents who would love to have your listing. And may even be willing to go as low as 3% total.
It is totally negotiable.
Also,
Don’t worry about the house you are buying you shouldn’t be payng her anything for that. It should all come out of the other sellers end.
Just worry about how much commission you are going to pay her for selling your house.
July 25th, 2010 at 10:06 pm
Commission is ALWAYS negotiable by law. However, you can only negotiate the commission that you are paying, which would be through the sell of your home. You cannot negotiate a fee that you are not paying, which would be the buying of a home. And, since there is another Realtor involved in the home that you are buying, you would be negotiating their commission too, since the commission is typically split between the two. If you want to negotiate, do it before you get an offer on the table. It’s not nice and it’s unprofessional to negotiate a fee after she has already brought you a buyer.
July 25th, 2010 at 10:06 pm
5-6% are normal fees for selling a house. Half goes to your realtor, and half goes to the buyers realtor. When you buy your new home, you do not pay the realtor, the seller does. If thier real estate agent is charging 6% then your realtor will again get half of that.
July 25th, 2010 at 10:06 pm
Her fee is not set, on either side. She can literally sell your house with 3% fully going to the buyers broker and nothing for her in exchange for full commission on the house you buy.
Or….
She can apply all or part of her commission as your buying agent to your down payment. She is not required to actually take the money. The only money she does not control is that of the other agent involved.
My broker kicks in part of his commission to me to help get deals thru, and I know he does it for others too. The money is applied during escrow so they do nto have to worry about income taxes.
July 25th, 2010 at 10:06 pm
Why can’t she? Unless she sells it to someone she is representing, she only gets 3% of that 6%…the other 3% goes to the buyer’s agent of the folks that will buy her home.
When you go to buy your new home…she only gets 50% of the commission that the seller is offering.
Those are standard commissions done all day, every day.
PS: If you expect her to negotiate her commission easily…then how would you expect her to protect the price of your home?