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What is the net commission payable to brokers?

Started by lo888
almost 15 years ago
Posts: 566
Member since: Jul 2008
Discussion about
How much do the brokerage firms actually pay the brokers? Just wondering how much that last $100/$200K which could make or break a deal means personally to the broker. There is no buyer's broker in this transaction and my guess is she's negotiated her firm's fee down to 3% or 4% with the seller. What will she net of that amount?
Response by jim_hones10
almost 15 years ago
Posts: 3413
Member since: Jan 2010

varies from 100% of the commission (with a set fee payable to the firm) down to 50%. Why do you care what she makes?

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Response by lo888
almost 15 years ago
Posts: 566
Member since: Jul 2008

Just want to make sure that she is not going to screw us out of a sale over a few pennies. I am more than happy for her to take 100% as long as she realises we've reached our limit. I'd even throw in a few bucks myself if I could. 3% of the difference in price is a much better deal.

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Response by MAV
almost 15 years ago
Posts: 502
Member since: Sep 2007

If your broker is active in the real estate community, and not just someone with a brokers license doing a friend a favor, they would rather uphold their good name and hope for referrals.

I know waiting can be stressful, and all sorts of things go though your mind, but I am pretty sure your broker wants to close this and move on to other deals...

Good luck!

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Response by KeithB
almost 15 years ago
Posts: 976
Member since: Aug 2009

That is why I love our model and 100% transparency. My clients will never be wondering wtf is going on...
Rebates to the customer are one factor that eliminates the mystery along with keeping you in the loop with all email communication.

Keith (broker)
http://www.theburkhardtgroup.com/services-and-fees-c14358.html

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Response by front_porch
almost 15 years ago
Posts: 5316
Member since: Mar 2008

Have you asked her?

ali r.
DG Neary Realty

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Response by Wbottom
almost 15 years ago
Posts: 2142
Member since: May 2010

agree keith, and to try to predict that a (usually none too intelligent) borker will even represent her/himself well is difficult. one would think they would in fact want to complete the deal, not jeopardize for meaningless $$, and move on; and be able to execute that. but then...............

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Response by huntersburg
almost 15 years ago
Posts: 11329
Member since: Nov 2010

Wtushy!

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Response by npaik
almost 15 years ago
Posts: 25
Member since: Jul 2007

Any agent that is a 'professional' representing the seller will act in the seller's best interest. Commissions are negotiated with the sellers when they sign the exclusive and have nothing to do (or shouldn't have anything to do) with the negotiations with the buyer. Maybe it is a bit off to believe ALL agents follow that -- but they should! What MAV said is correct, anyone that is in the business for the long haul will find referrals and a good reputation way more valuable than a few extra dollars on a single transaction. The listing agent wants to get the best price for the seller from a qualified buyer who could get through the board (if a Co-op) and the bank. It is also not correct to assume just because there is no buyer's agent involved that the listing agent's commission has been reduced to 3 or 4%, every agency and agent is different.

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Response by jim_hones10
almost 15 years ago
Posts: 3413
Member since: Jan 2010

Wbottom
about 2 hours ago
ignore this person
report abuse agree keith, and to try to predict that a (usually none too intelligent) borker will even represent her/himself well is difficult. one would think they would in fact want to complete the deal, not jeopardize for meaningless $$, and move on; and be able to execute that. but then...............

You are just such a fucking asshole it's beyond words WIDE BOTTOM

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