Typical Realtor Rates

[Merriora]

Hello

I attempted to search for the answer on the forums with no luck.

What do full service realtors typically charge?

I normally see a typical charge of...

7% on 1st 100,000
2.5% on remainder

In the past with the hot Vancouver market, I was able to easily get 6% and 2% with no percieved drop in service. I am just wondering what is usually charged currently in the Lower Mainland area as my place will be going on the market soon. I was speaking with one full service realtor who thought the above figures were high given the competition to get listings.

NOTE: I do believe that quality realtors deserve a good salary and do not believe in nickle and dime`ing them to save a bit of cash. However, when selling a personal residence in a hot market, I do believe that their is some room for negotiation, especially if you (the seller) does all the right things like staging the home and making sure everything is perfect for every showing. Plus, I do see a difference in personal properties to live in VS. Investment Properties.

I haven`t completed on an Investment Property yet, but have seen how hard the realtor works to find the right deal and crunch the numbers and when a deal is completed, they deserve a good commission for all their hard work. However when looking for a personal residence, I am basically just looking for a home that fits in my price range and one that I can see living in.

Thanks,

 

[RedlineBrett]

QUOTE (Merriora @ Jan 25 2008, 11:39 PM) Hello

I attempted to search for the answer on the forums with no luck.

What do full service realtors typically charge?

I normally see a typical charge of...

7% on 1st 100,000
2.5% on remainder

In the past with the hot Vancouver market, I was able to easily get 6% and 2% with no percieved drop in service. I am just wondering what is usually charged currently in the Lower Mainland area as my place will be going on the market soon. I was speaking with one full service realtor who thought the above figures were high given the competition to get listings.

NOTE: I do believe that quality realtors deserve a good salary and do not believe in nickle and dime`ing them to save a bit of cash. However, when selling a personal residence in a hot market, I do believe that their is some room for negotiation, especially if you (the seller) does all the right things like staging the home and making sure everything is perfect for every showing. Plus, I do see a difference in personal properties to live in VS. Investment Properties.

I haven`t completed on an Investment Property yet, but have seen how hard the realtor works to find the right deal and crunch the numbers and when a deal is completed, they deserve a good commission for all their hard work. However when looking for a personal residence, I am basically just looking for a home that fits in my price range and one that I can see living in.

Thanks,

In alberta the standard rates are 7 and 3. Typically if you are trying to negotiate a deal with your agent he or she will be able to give you some money off of their end... (3.5/1.5) Agents with buyer clients hate seeing reduced comissions for selling your property and I do know for a fact that some will steer their clients away from your property if you dont` offer a full commish on the buyer`s end.

A great way to get around this is to negotiate a deal with your listing agent where you also agree to use them when you buy your next property or let them refer you to someone in your new city. That makes it much easier for you to get a break on fees and also ensure that they get paid.

Good luck!