Do real estate agents usually make this much?
 

My agent said he would discount my fee to 4.5 that fucken 30g's to sell my house.

Something don't seems right with that.

If you want your house sold with in a week then yes if not I would just do it yourself.

Yea they do.

Depends on region, type of object and shit of course

sounds about right and your agent does not get to keep all of it.

Where I'm from, that's $30,000 divided by 4. Your agent isn't gonna make 30k selling your house.

The listing agent, listing broker, buying agent and buying broker all make 25% of that fee.

So, unless he lists it and sells it, he's only making $7,500 less expenses.

Ya, I think he splits it with the buyers agent but still.

It's 6% normally around here.

it's usually 3% for the selling agent and 3% for the buying agent. 6% total going out. If he is selling it, and also bringing in the new buyer he gets 6%. If he lists it on MLS and another agent finds it and brings in a person to buy, they each get 3%.

So I'm getting a deal paying him 30k to sell my house?

Fuckin crazy, I trust him though and already signed the contract. It's just damn, damn,

That's a nice chunk of change, I would probably try to sell it myself first and see how that would go...

Yes they do...especially rush sales! If that was mine I would probably done it myself!

why did you not negotiate it?

Chaze,

I'm a real estate agent in California.

Make sure the buyers agent, the one representing the buyer, is getting at least 2.5%. It will be listed in the MLS.

Selling a home is not a simple task. Many people believe that we Realtors don't do much but that is not the case. There is a lot that goes on in the background. In Los Angeles, our files become 2 inches thick once a property is sold and that only includes real estate contract, disclosures, etc.

Hopefully you have a good agent from a reputable company which will market your home in the MLS, Newspaper, other agents, etc. Selling your home yourself might save you some $$$ but in this country where a third of the yellow pages are attorney, it would be best to allow professionals to handle it giving you the peace of mind.

exactly theyre always open to negotiations 6 in total is a lot if its a house that high in price

It ranges from 3% - 6% usually. Do not sign exclusive for more then 30 days.

yeah they do make that much.....very competitive business and when the bubble breaks (home sales) they wont be moving as much. :(

there are also a lot of differences from an agent and a broker-

A real estate agent is a person licensed by the Department of Real Estate to handle real estate sales. A broker, also licensed by the State, is the person who may own a real estate company or who has overall responsibility for the agent's actions. The agent or broker will have had to take real estate courses and pass an exam before he or she could have become licensed to practice.

phonesex - so how much profit is on a typical sale for you, roughly?

my grandpas house just sold for 152k and he only kept 146. so thats about 4.5 isnt it?

It's 7% standard here. Usually if you have a seller's agent they split the cost. But as others have said, the agent doesn't get all that.

5% is pretty standart where I live. My advice don't negotiate to much with the Realtor. Sometimes I even kick them back 1% if they sell the house at full price within 1 month. I guess it just depends how fast you want to sell and where you are located

some do, some dont

agents here take 6-8%

Shit man, I've never seen a real estate broker charge more then 3% here. I sold a place a few years ago through a Re-Max team and they only charged 1.5% if it sold within 30 days(which it did), 2% 31-45 days, 2.5% 46-60 days and 3% max after 60 days.

Normally 5-6 %... good deal

they usually get 6% here in PA

30k sounds too much depending on how much the house is worth

The deal with Realtors.

If the market is hot you don't need them. They just put it in the MLS and if the market is hot it will sell itself if inventory doesn't meet demand.

However, in a slower market they usually do the same thing dump it in the MLS. Very few agents actively sell, it's all passive sales bullshit and you're paying for them to put it into the MLS. Rip up that contract. Spend $500 to have someone put it in the MLS for you and do a FSBO. You're leaving a lot of money on the table. I only buy and sell FSBO. It's just too easy to sell a house.

:thumbsup

Damn straight! How do you think your Realtor affords his Mercedes?

I am sure it would be embarassing for you if he drove up in a Chevy.

;)

I would rather deal with a realtor that drives a Chevy, I wouldnt feel like I'm getting so ripped off.

Realtors are all scumbags, its about the only profession other than pornographers where you can make a generalization like this and it be true.

Realtors just want to make sales, they dont care about your best interest and will lie about anything and backstab their own brokers, I've seen it all. They will also lowball you when you are selling for a quick sale, so be careful, set your own asking price.

1 problem with that when a agent for the seller is looking thru msl for thier client which house do you think will get shown last ?

The one where the agent makes no $$$ fsbo is great if you live somewhere with little supply and high demand in most places tho you will get less people seeing your house and overall less $$$.

FLAT RATE ... there are flat rate realators out there now that will charge about $1500-2K to list your house you have to do the open house yoruself. Real estate is going the way of stock brokerage. Fees are dropping. used to be you would pay $200 to trade a stock now its $7 same will happen to the overpriced real estate fees

there are people in chicago doing mls listings for under 1k quite a few actually.

In a hot market like California, where agents don't have much trouble selling, companies like http://www.helpusell.com only charge $9,995 flat rate and do everything that someone selling it for 6% is doing. In Santa Barbara, recently I read about two attorneys that partnered up and are selling homes for $9,995 up to $1 mil or 1.5% for homes over that. With a median price here of $1.2 mil, that's a huge savings. It's funny because other agents here are getting pissed at those two guys, even went so far as to try to get their real estate licenses revoked.

My real estate agent has made about 60k from me the past couple months.

I know the typical charge in California is around 5 or 6 % so that sounds right.
2.5 or 3% to your agent and 2.5 to 3% to the Broker for the buyer.

If you want a good agent who will push your house, 6% is norm.

Agents will take clients to houses with the full 6% before your 4.5%. I agree, it sucks.

And keep in mind the agent does not keep all of it, they work for companies who take atleast 50% of the comissions.

not to mention, my agent was the listing agent on both properties i bought.

Yeah when you work the excesses out of the market and kill peoples income, it tends to do that. Stock brokers were and are still really pissed at the comission structure and the interent for automating and simplifying and demystifying the process, but this is what is coming for real estate and nothing they can do will stop the inevitable drop in comissions.

Its just like when I charge 5% to broker a domain. You have any idea how many waste of time lookie lous I have to interact with to find that one buyer? Sometimes its 10 or more. That takes time. Time is money.

Then you get the people that take you through the process of buying a domain but never come through as they promised. That can really be a lot time down the drain.

Brokers are worth the money because its hard work and they get the job done professionally. End of story.

let the agent make a living.

Ya that's what he said.

I also have to factor he found the house I am in that went up 140k in just 12 months. And they got me a loan with no money down, no credit check, and no taxes.

So if it sales for $650 my opening price, I stilll make 110k for living in a sweet house in Orange County.

Next I think I'm going to rent for a year then when the bubble bursts buy again, maybe Long beach or Dana Point.

What if the bubble doesn't burst?

I'll be pissed. :1orglaugh I'm mainly selling for that reason.