Realestate broker selling fees

What is the average % a realestate gets for selling your house?

ThankS!

Wow... it can really vary. Commissions are negotiable.

Anywhere from 2% to 6%. Most of the 'big realtors' charge 4%. Places like Foxtons only charge 3%.

The problem with someplace like this... is if you deal with an agency that only charges YOU 3%. That means the listing agency gets 2% and the buyer's agent only gets 1%.

I have heard from a few different realtors that they usually don't even bother to show their customer a place if they see they will only get 1%. So you may lose some potential buyers if you go with that. A place that does 4% means 2% for the buyer and seller agents. Thats usually the norm.

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Posted by violet

Is it safe to do 'for sale by owner'?

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If you can manage to find a buyer yourself... you can definitely do this and save some money.

I had a buyer for my co-op FSBO... but I decided to go with a buyer that came from a RE agency at 4% commission.

After their commission cut... I am netting about 3k less with the RE buyer than with the FSBO buyer.

But the 3k is worth having the agent do all the legwork. She also has a lot of 'ins' with my co-op board which will help.

Just so you know the agent dosn't get that full 2% either.

What happens is if it is a 4 % commission 1% goes to the buyers agent 1% goes to the agency they work for (c21 etc) then 1% goes to the sellers agent and 1% to the sellers agency.

So on a sale of a house of 400,000 each agent only get 4,000 a piece of that 16,000.

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Posted by lullabella

Thanks for the info. I kills me that I will have to pay an agent at a min $25k to sell my house!!!!!

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The agent may get you a better price though. A lot of people won't offer a FSBO 'market value' on their house knowing they aren't paying any commission.

But it doesn't hurt to try to sell it yourself first. You may get lucky.