Broker Fees

wow someone is going to make alot of money from you for doing nothing

I've done this "dual transaction" before. My broker was totally willing to negotiate the seller-side fees, especially if it wan't cobroke (because the cobroker's 3% wasn't under his control).

In fact, when I told him that I was going to reject a somewhat mediocre offer from a buyer working w/ a buyer's agent (i.e., cobroke), my agent lowered his fee from 5.5% (already discounted from 6% in the contract) to 4.5%, to make the offer more attractive. I think it was all perfectly legal.

I might be mistaken, but I think I've heard someone say that discounting RE fees wasn't allowed in NJ...

all % are negotiable, especially with the numbers that you're throwing around. i would sign with 4% no cobroke and 5% with. i think you'll find plenty of takers.

Before I was a real estate agent, I asked for (and received) a dual-transaction discount from the firm I now work for (a Chelsea-based boutique).

This kind of discounting does have to be run up the flagpole, and in larger firms, that's a longer process.

Still, it's hard to imagine -- especially in this market, where volume is still down off-peak -- that you couldn't get it from any firm you chose.

Certainly we're happy to take a look at the property if you'd like to talk more.

ali r.
DG Neary Realty
ali [at] dgneary [dot] com

To the OP, first of all, if you're by any chance a F1 fan, that's a great name this year (only second to svettel)!

As an independent broker, I'm always open to dealing in any way which is:
(1) Legal
(2) Creates a situation where we have happy campers in every corner - buyer(s)/seller(s)/broker(s).

Always happy to talk anytime.

I think most of us have cut commissions to suit circumstances and make deals at various times.
The independent broker generally has the advantage of not having to refer to managers/owners but can make instantaneous decisions.
One limiting factor on the sale side is that, in order to be sufficiently attractive for other brokers to show unit, a co-broke % of 5% is probably as low as you want to go (unless it's a very high-value unit).
I did once co-broke a unit at 4% (as my seller insisted on going with 4% despite my advice otherwise and I personally was happy enough with the absolute amount of the commission as it was a $3 mi+ sale). However, the broker on the other side voiced more than a little displeasure but the deal still went through. But I did have one prominent broker who expressed that she would not be bringing one specific customer due to the level of commission.

Basil