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Thread: Realtors, do you ever give a break on commission?

  1. #1
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    Default Realtors, do you ever give a break on commission?

    I know 7 + 3 is the standard but are there circumstances where a discount is given? As I understand it, commissions are negotiable, correct? Does the commission drop off at a certain value or is it still 3% on a million+ home?

    I don't want this to turn into a realtor bashing thread, I believe they offer a vital service. I just think ~$20K is a bit much.

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    My last beyond member that listed with me received the following...

    A choice of either

    Saving $1000.oo on commisions, or
    Me offering $1000.oo extra to listing realtors

    They chose the incentive for other realtors and it has really started to pay off. I am somewhat friends with another Realtor in the same complex with a listing and they have said they are receiving no action and we have had 5 or 6 calls in the last few days.

    It would depend on the property however if it is a more expensive place i do give more incentives. If you wish to work some sort of plan feel free to PM me.

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    of course commissions are negotiable,.. usually for repeat clients,... or if I would be doing 2 things,.. selling their home and helping to purchase aswell.

    remember,.. not all commissions come to us,.. brokerage fee's, some take a percentage, RECA fees, CREB fee's.

    Any kind of commission structure can be negotiated

    ie:
    6% on first 100k
    3% on next 300k
    1% on balance

    or 8% on first 100k
    2% on balance

    or flat fee 15k

    anything can be negotiated,.. but is selecting a realtor by commission really on the forefront of your mind?

    or the services they provide?
    Burn some serious rubber on your Wedding Night!!


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    [i]

    anything can be negotiated,.. but is selecting a realtor by commission really on the forefront of your mind?

    or the services they provide? [/B]
    Very true, If you want i can list your house for $2000 flat fee however i can just about guarantee noone will view it ue to a lack of marketing, or other realtors choosing not to show it.
    Or i can list your house for $50000 flat fee and have your home painted all over the calgary tower.....

    (dont quote me on the calgary tower part, it might be more lol)

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    Most Realtors will negotiate. I will refuse to negotiate or even charge a higher fee if its a listing I don't really want.

    I've negotiated for Beyond members, repeat clients, friends, family, etc.

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    Originally posted by barmanjay

    anything can be negotiated,.. but is selecting a realtor by commission really on the forefront of your mind?

    or the services they provide?
    People need to approach selecting a realtor just like any other service or product.

    What you get for what you pay.

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    Originally posted by RT16V


    People need to approach selecting a realtor just like any other service or product.

    What you get for what you pay.
    And sometimes you don't and you get ripped off.

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    Originally posted by blownz


    And sometimes you don't and you get ripped off.
    Very true as well.
    Some realtors may explain that they do not negotiate because they are worth every last penny because they spend so much on listing your property when in reality, all they may have done was put it on MLS and sat back.

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    PS Blownz...didnt you tell me like a month ago you were going to change your banner due to a ride change????

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    lol

    Yeah, I only have a few pictures of the new car and they aren't as good as the old one so I haven't changed it yet... I know, bad excuse.

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    I have a couple of questions...

    I was wondering who usually pays for the commission? The buyer or the seller? What about things like welist.com that say that you can skip out on realtor fees?

    Just for future reference when I want to sell my place.

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    Sellers pay commission

    Ask any of the realtors on here to show you in person how the mls works compared to welist

    you may have 2nd thoughts on welist compared to mls
    Burn some serious rubber on your Wedding Night!!


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    ya we list is only one step up from the "house for sale" sign you can buy at the dollar store and put on your lawn.

    I personaly would always use a realtor. Just too much paper work, and running around for me to bother with to try and buy or sell on my own.

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    Just a question but has anyone ever tried a net pricing deal with a realtor where they would just provide the after commission price that they wanted? I.e. I want $300,000 for my house and you can list and make as much as you want. So if the house sells for $350,000, then the realtor would make $50,000 in commission.

    I mean at the end of the day, you want a particular amount of money in your pocket so if you get your price, then does it matter how much the realtor makes off of you?

    There's obviously some points to consider with this strategy as if you set your net price too high, no realtor will want the business. If you set too low, then you're not getting the maximum value of your home.

    I only suggest this strategy to answer the age old question of commission negotiating and how some people feel commisions are too high/low.

    Any comments from Realtors?

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    We can't do that
    Burn some serious rubber on your Wedding Night!!


    Renovating a home the hard way:
    http://propertysensei.wordpress.com/

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    Originally posted by Euro838
    Just a question but has anyone ever tried a net pricing deal with a realtor where they would just provide the after commission price that they wanted? I.e. I want $300,000 for my house and you can list and make as much as you want. So if the house sells for $350,000, then the realtor would make $50,000 in commission.

    I mean at the end of the day, you want a particular amount of money in your pocket so if you get your price, then does it matter how much the realtor makes off of you?

    There's obviously some points to consider with this strategy as if you set your net price too high, no realtor will want the business. If you set too low, then you're not getting the maximum value of your home.

    I only suggest this strategy to answer the age old question of commission negotiating and how some people feel commisions are too high/low.

    Any comments from Realtors?
    yes i did something similar with the last house that sold, but since they need percents to put in the contract we calculated a bunch of different percents that he would make if he sold it for certain prices. So if he sells it at my desired price he makes X%, if he sells it for $10,000 more he makes more, if he sells it for $20,000 more he makes more, etc.

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    Originally posted by barmanjay

    ie:
    7% on first 100k
    3% on next 200k
    50% on balance
    ^^^Did it look something like that?

    I would do something like that,.. LOL
    Burn some serious rubber on your Wedding Night!!


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    I worked with a team that would work on a net system. Didn't work exactly like that... we would list for 7% on the first $100,000 and 3% on the balance but when negotiating with the clients, we would calculate the clients net. I guess the purpose of that was, it got them thinking about what they would walk away with and they didn't dwell so much on the 7/3. Seems to work for them, I didn't like the system myself...

  19. #19
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    Well, that's what I figure would possibly help as people sometimes are hung up on the commission and the rate realtors get rather than the service/product the client(s) are receiving. A lot it comes down to perception. i.e. which realtor worked "harder" for the client? the one that sold the house in 2 days or the one that sold the house in 200 days?

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