Shallotte, NC · Member since 2013 · 130 posts · 16 votes
Hey, Can you please help me out? ..... My Realtor wants me to digitally sign this contract online. Am I missing something or does the total come out to 8% total? The norm around here is pretty much 6%. Days ago, I asked her if she ever negotiates the commission on a higher priced home and she said that she would go 5%. So, wouldn't that make her 2.5 and the buyers agent 2.5? I don't want to sign anything until I get this sorted out. I have sent you a photo of the contract commission area. This is confusing? .........Thanks!
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
9y
You are paying 5%, they are giving 2% to the buyer's agent. In our market this puts you at a disadvantage since buyer agents are going to try and avoid your listing, and sell a home to their buyers where they can collect 3% on the same priced home. They will make 50% more Not selling your house. This is the problem with trying save on the commission. It's short sighted to "negotiate" commission. I recently got a great deal on a $525k purchase for a retail buyer because the REO agent was only offering 2% to the buyer agent, most agents avoided the listing, my buyer was paying me the 1% difference, so he got it probably $50k below market. So, did that seller really "save" 1%?
Shallotte, NC · Member since 2013 · 130 posts · 16 votes
9y
Hum,
She wrote 3% of the gross to the buyers agent on the form above. It looks like my listing agent will be getting 2%, or not? I just want to make 100% sure before I start signing things.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
9y
Yep, you're good to go...I misread the split. Your agent is doing you a good favor....taking the reduction, paying out the full 3% to the buyer agent....most won't.