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What is the going rate for realtor commissions and or fees?
I have not bought a home since 1990 and i am a little out of touch. I am in the market to buy some real estate after some bad choices in life and after a very bad divorce.
I want to buy some small fixer uppers for rental income or maybe flipping. However i have talked to a few realtors and friends of mine and find that things have changed in the real estate market.
In times past the buyer paid no commissions or fees when buying a house it was paid buy the seller. Now i find that realtors want to charge a minimum for their services and if the commissions do not cover it the buyer is responsible for them. Since i was looking at buying lower end houses 25k-40k that would leave me holding the bag for commissions every time.
The going rate seems to be a minimum of $ 2500.00. Is this standard operating procedure in the real estate market or is everything negotiable like the price you pay for the house. Or are some just to busy to be bothered by the little houses because they won't make as much?
Are there any realtors out there that do not charge this minimum fee to buyers????? I need names if so thanks.
Any insight will be appreciated.
Howard L
The realtor i have been in contact with wants me to sign a contract before showing me houses stating i am responsible for a min of 2500.00 if the commissions do not cover this.
4 Answers
- LandlordLv 79 years agoFavorite Answer
talk to some other agents. While times have changed, the buyer paying any fee to the realtor is NOT one of those changes. the seller still pays 100% of the real estate commissions.
- Anonymous4 years ago
you ought to yet many circumstances you get what you pay for. you ought to choose to purpose promoting it on the industry by utilising proprietor and then as at once as you are available in the time of a shopper, some brokers will write up the contract for you for a decrease fee. i've got have been given accomplished it at circumstances for a million% or so if there is not any longer that plenty in touch. a reliable realtor rather is properly surely very well worth the money. Flat fee brokers in many circumstances in straight forward terms located you contained interior the MLS and don't something to industry your place. at circumstances they do no longer even attempt this. initiate up interviewing brokers on your section and study their fee and what you get for it. save in recommendations that as quickly as you progression to a clean place, you do no longer pay the realtor fee to purchase your new domicile!
- Howard LLv 79 years ago
As a buyer just make an offer on the house specifying seller pays all realty fees and don't worry about who ends up paying; the seller out of what he receives for the house or the realtor taking a lower commission..
- Anonymous9 years ago
Usually the fee is paid by the seller, never the buyer unless you get a buyer broker. And you can put in the offer that the sell pay all commission and fee's.