Real Estate Agent Commission FeesFebruary 9, 2016
Average Real Estate Commission Rate Fees
Although the average real estate commission fee depends on the state and zip code of the property, it is most common to find the standard rate to be 6% to 7% throughout the United States. However, in most cases, these real estate brokerage commissions can be negotiated.
Real Estate Brokerage Sales Commissions are broken into two parts; the Listing Agent Brokerage Fee and the Buying Agent Brokerage Fee. Although it is common for these two to be equal (e.g. 3% for the Listing Agent and 3% for the Buying Agent) there are many circumstances where they are not equal. The Listing Agent has the opportunity to take less or to offer less.
So, when we are asked, "Are Realtor Commissions Negotiable?" or "Can I ask my commission real estate agent to reduce their Realtor commission fees for selling a house?", the answer is YES!
There are some of the larger Brokerage Firms that will not allow their agents to negotiate and lower their fees and in those cases, the agent's hands are tied. But, you will find that many of the smaller brokerage firms will discount to get you the lowest Realtor fees. In fact, in many parts of the U.S. and Canada, negotiating a lower real estate commission rate for selling a house is becoming the norm.
Although we can't predict what the lowest real estate commission rate a real estate agent can take, we do know that a free market system offers the best opportunity to negotiate Realtor fees. ListingBidder is a free online platform that allows a Seller to anonymously invite Realtors to submit a Marketing Plan and their Realtor fees through a Realtor bid. This allows a Seller to freely have their real estate commission fee rates negotiated on the open market so they they can get a lower Realtor fee for selling their home. We find this the simplest way for a Seller to pay less real estate commission.
Our advice is you don't have to pay your real estate agent 6% or 7%. There are plenty of realtors ready to bid for your property listing. The ListingBidder experience is quite fun and fascinating at the same time. You will also find some realtors bidding their full commission rate. If their experience, knowledge, ratings and reviews warrant a premium, you might want to go that direction. Either way, the Seller is in control and can anonymously review all realtors marketing plans and commission bids to make an intelligent, informed decision.
Go to ListingBidder.com for more information!
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