What would be the acceptable industry standard of agent's commission on million dollar house (over 1.5mil) listing? I understand it all depends how people negotiate with agents but don't want to be considered either being rude or too aggressive. Any experience or any tips would be appreciated!
Agent's commission
- Thread starter monekoko
- Start date
usctrojancpa
Well-known member
As you said, everything is negotiable. Keep in mind that you'll also want to offer a commission to buyer's agents to show your home. The majority of commissions seem to be 5% split between the listing and buyer agent. I have a pretty unique commission structure for my seller clients that has worked well.monekoko said:
Zippohunter
Member
How much more work for a 1.5 million house vs a 500k condo? Honest question.
irvinehomeowner
Well-known member
From a non-realtor perspective... it depends.Zippohunter said:
Location will determine popularity and based just on numbers, there will probably be more traffic for the $500k condo. Conversely it may be harder to close on the $1.5m house.
But again, this depends on location, condition of home etc.
irvinerealtor
New member
monekoko said:
To answer your question:
There is no "acceptable industry standard" and it can vary from a flat fee to a full 6% commission. It all depends upon what you want, and what you both agree is fair.
Zippohunter said:
To answer your question:
More work? Probably zero.
To answer the unasked question:
More liability if things go badly? Yes.
More $$$ that typically goes into preparation/advertising/promotion? Yes.
Higher level of service expectation from seller? Yes.
What you pay for is often experience and expertise to avoid the lumps in the road, and again that's up to you to decide what's fair. Depending upon what you're looking for, I'm pretty sure I can beat what most can offer.
-IR2