selling a house, fees?

mark · #1 05-03-2010, 07:52 PM

Know the standard is 7% on the first $100K and 3.5% on the balance but wondering how much that is open for negotiation.

(can't go Comfree for FS by Owner as not near the property)

lastlight · #2 05-03-2010, 07:57 PM

If your mom is a realtor it's free

Have you asked yours?

edreinink · #3 05-03-2010, 07:58 PM

Its negotiable, currently federal employees on transfer have a standing agreement with Royal Lepage for 6 and 3 percent. Having said that your house is not as likely to get shown as the agent will not make as much money, especially if they have to split it with another agent.

mark · #4 05-03-2010, 08:15 PM

Thought to get an idea of what's going on before approaching the agent and possibliy insulting them.

Sounds like things are rather slow in the area (south central BC) so thinking they might be happy with any sale.

macky · #5 05-03-2010, 08:31 PM

Last time I sold a house 3 years ago I used a friend of the family and she gave me 50% of her selling commission. I am currently selling a house and using a different agent and he has agreed to give me 25% of his selling commission. It is always negotiable.

Cameron · #6 05-04-2010, 02:11 AM

It's always negotiable....if you are using the same agent for the purchase and sale they should give you a cut..

Pazil · #7 05-04-2010, 02:42 AM

Legally A real estate agent can not tell you that their commissions are not negotiable. They are!!!! With that being said..... I would not discount the selling realtors commissions. The 7 and 3 that is standard is split into 2 halves 3.5 and 1.5 for each realtor (listing and selling). If the selling realtor is looking at your property and sees that they are not making the normal 3.5 / 1.5 they may choose not to show you home to potential buyers. Ask your listing realtor to discount their commissions and leave the sellng commission full. I hope that makes sense.

If your are buying another home than use the same realtor for the listing of your home and the purchase of the new home and you should be able to get a great discount on your listing fees because the listing realtor is also getting paid the 3.5 / 1.5 on the purchase of the new home.