Anybody have a feel for an average realtor commission ? Seems a taboo in that field to discuss commissions ..... Get a run around from most unless I want to get under a contract.... I've heard anywhere from 3% to 12 %.
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Realtor commissions
- Thread starter Shovelhead
- Start date
If I remember right (my mom did realty for a while), it was 6%.
1.5 % to listing agent, buying agent, and each of their agencies.
Jumbo loan stuff and commercial I think were a bit higher.
1.5 % to listing agent, buying agent, and each of their agencies.
Jumbo loan stuff and commercial I think were a bit higher.
Thanks Doug... Pretty good change for selling a 200k house. I'm sure the agent doesn't get it all and they do spilt things up with buying and selling agents. They better work hard for $12k
Exactly. When I sold my last house back right before the bubble burst it was 7%. We've been trying to sell our condo in NKY / Cincy for the last two years and it was 6% each contract (6 mo.).
In Georgia I've seen it range from 1.5 - 6 average is generally closer to 3 as of the last couple years (been away from real estate almost a year)
I spent years as a residential agent. The reason they will not give you a standard is because a "standard" percentage is illegal and will cost them their license. What you will typically see is 6-7% for regular residential. 8-10% for acreage. Typically your 1.5% will either be very low level, limited service or include additional fees in the small print. The entire commission is charged to the seller, goes to the listing agent and the listing agent then chooses how much of that they will offer to a selling (buyer's) agent. Something you will often see is a 6% commission with 25-50% of that 6% offered to the buyer's agent. Each agent will then usually split their respective commissions with their brokers ad that's between the broker and the agent. It varies among brokers and is often dependent upon annual transactional volume of that agent. Or, as is the case with most of the RE/MAX franchises, the agent will pay a very high flat fee to the broker (which is usually comparable to the amount of a mortgage payment of quite a nice home) and keep 100% of their earned commissions.
WOW! 3%? I've yet to see that as "typical" and 1.5%? I'd be afraid of what you actually get for that. If a realtor charge a 1.5% commission and had o split it with the seller's realtor, on a $200K house...that's $1500 a piece. Take away the listing fee, marketing, staff, and any amount of time invested and that realtor is in the red.
I maybe completely wrong on this, but I've bought and sold many homes in Ohio, Oklahoma and Kentucky over th years and am in the middle of purchasing one here in Georgia...I have typically seen 6% as the norm. Again, I maybe wrong about Georgia and the home we're buying is an exception, but my broker is splitting a 6% commission with the seller's broker.
