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Old 02-28-2012, 11:11 AM   #1
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Reasonable realtor commission for cheap condo?

I have a cheap condo (around $160k) I'm selling in Surrey.

I've never sold a house with a realtor before...my understanding is 6% is pretty standard. Does this seem about right right?

Would it be unreasonable to target someone in the 4% range, provided I'll price the condo fairly aggressively?
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Old 02-28-2012, 11:16 AM   #2
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I wasn't aware that it's possible to bargain with Realtors commission I've had success with 1% and referred them to family and friends.
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Old 02-28-2012, 12:00 PM   #3
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I think it goes some like 6% for the first 100k or 200k of the unti u are selling and after that is like 4%? I am not sure you might want to ask miss_crayon since she works in the industry.
You may able to get the commission cheaper but it depends on the realtor though.
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Old 02-28-2012, 02:19 PM   #4
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Quote:
Originally Posted by pingu81 View Post
I wasn't aware that it's possible to bargain with Realtors commission I've had success with 1% and referred them to family and friends.
Yes you can negotiate commissions with an agent. I had my last agent kick-back 50% of his commission back to me.
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Old 02-28-2012, 03:14 PM   #5
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There is no standard commission rate, all is negotiable. Typically is 7% on the 1st $100,000, 2.5% on the balance remaining PLUS tax that the seller pays out if you're asking.

You can always try the discount brokerages: 1% Realty, 2% Realty, etc. There's also OneFlatFee. You can do some of the menial work if you want but unlike the other discount brokerages, you can offer up the typical commission rate to a buyer's realtor and save on the listing end. That should prevent any realtor from not showing your listing to their clients.

Making it an easy sale for a realtor doesn't mean they'll still reduce their commission. It'll give them more reason to but usually it's a little give and take for them to budge. Talk it out with them and failing that, use the discount brokers.
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