real estate agents fees

holland1974 · #1 04-20-2009, 05:58 AM

Hi, can anybody tell me what the normal fees are for selling a house, I have been quoted 10% which was then knocked down to 8% of the value of the house. Is this excessive as in the UK its between 1-2%. The agent who told us this was the agent we used when buying the house and were very good but this just sounds high.

Bob K · #2 04-20-2009, 08:39 AM

The going rate for commissions for real estate sales is between 7-10% depending on the price of the property. For really large sales (multiple millions the rate can go as low as 5%)

Bob k

Olly · #3 04-30-2009, 10:31 PM

It is rather high - one company Redline will go as low as 3%

Their web site is :Redline Dominican Republic

I have nothing to do real estate but thought this might interest you !

Olly

J D Sauser · #4 04-30-2009, 10:49 PM

It also depends on the value of the property.
A little studio worth in the 20K's will most likely be listed at a higher percentage rate than a mansion, hotel or huge piece of land in the millions.
It can take a lot of showings / time to show the little studio in hopes to 200.oo Dollars.

Also currently, listings is not what most agents are missing... it's buyers which seem hard to find.

... J-D.

jrhartley · #5 04-30-2009, 10:59 PM

not a lot of use having a low rate if they cant sell it- 10 per cent is fairly normal I think

AlaninDR · #6 04-30-2009, 11:12 PM

Absolutely jr, and if they use the same customer service in real estate that they use on their insurance side, they really have no need to maintain a website.

jrhartley · #7 05-14-2009, 05:33 PM

please elaborate

lafiera · #8 05-14-2009, 09:17 PM

Dont pay more tham 5% please.

Camden Tom · #9 05-16-2009, 02:41 PM

Quote:

Originally Posted by lafiera

Dont pay more tham 5% please.

Interesting first post??????????
I have bought and sold numerous properties in the DR. For sale by owner is almost impossible. Try listing your property for 5% and see how many showings you get when everything else on the market pay 7-10%

EWRealty · #10 05-16-2009, 04:24 PM

Quote:

Originally Posted by Camden Tom

Interesting first post??????????
I have bought and sold numerous properties in the DR. For sale by owner is almost impossible. Try listing your property for 5% and see how many showings you get when everything else on the market pay 7-10%

This is very true. One of the first questions asked by a buyer's agent is "What's the commission split?" If it is to low, or below the norm, they will be hesitant to show the property to their client.