1 year, 6 months ago
via realestate-qna.com
How do Realtor commissions work?
How much does the average Realtor make at a home closing? What factors go into deciding commission? Is the Realtor commission negotiable?
Separate topics with commas, or by pressing return. Use the delete or backspace key to edit or remove existing topics.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$1 Answer
Depending on the Realtors in your area, commissions will likely be 5% or 6%. While the percentage may remain the same, it's the selling amount of the property that dictates the dollar value of the commission. The median home price in 2009 was approximately $173,000. Based on a 6% commission, the average cost of a Realtor would be around $10,000.
Of this percentage, half goes to the listing agent and half goes to the selling agent. If a single agent lists the property and then also sells it, they keep the full amount. While you may be able to negotiate commissions in certain cases, most Realtors are interested in making sure that their commissions aren't eroded.
Also, just so you know, very pricey homes that sell for several million dollars or more often have a flat 1% commission. After all, most agents aren't worth seven figures per deal.
Of this percentage, half goes to the listing agent and half goes to the selling agent. If a single agent lists the property and then also sells it, they keep the full amount. While you may be able to negotiate commissions in certain cases, most Realtors are interested in making sure that their commissions aren't eroded.
Also, just so you know, very pricey homes that sell for several million dollars or more often have a flat 1% commission. After all, most agents aren't worth seven figures per deal.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$Report Abuse
