selling a property.. $6000 flat realtor fee?

Question

Hey BP  family,

Please assist. I have an investment property I am looking to put on the market.  Its market value is in the $50- 60K range.  The realtor I have selected charges a $6000 flat fee for any properties under $100,000.  I am thinking this is too high.  I know 6% is standard, less if one can negotiate. What do you all think is this typical for some realtors? I will appreciate input.  Thanks

Wayne Brooks · Answer

Depends.....sounds like you’re talking to a successful agent who values their time. I worked the same way. I never could understand why agents would actually work with buyers buying the cheap $25-$50k condos here, getting a commission of 2% or so after fees and splits....just an absolute waste of time.

I’m sure you can find agents to handle your property for 6%, this agent is just telling you it won’t be them.  And while you can typically negotiate a lower fee, not that necessarily is a good idea, on higher priced properties, don’t expect it on a $50k property.

Katherine T. · Answer

Thanks Brian.  I feel the same way.. ridiculous. I appreciate.

Brian Garrett · Answer

I personally would never pay a $6k flat fee to a realtor on a $60k property nor is that common here.

10% is ridiculous and I'd suggest finding a different realtor who doesn't pick their fees out of thin air.