Home sellers in our troubled economic times are faced with a tough choice. Do they hire a Toronto Beaches real estate agent to sell their home and resign themselves with parting with several thousand dollars in commission, or do they go it alone and face all the negotiations, paperwork, and legal hoops by themselves? This may come as a surprise to you, but there's actually a third option: hire a realtor but negotiate her down to a commission level you feel comfortable with. Here are some tips on negotiating commissions with your realtor.

The first thing you need to decide is how much is too much. Beyond a certain level, real estate agents cannot actually afford to represent you, because what they earn in commission from selling your Richmond, VA real estate would not be enough to meet their expenses once the commission has been shared with the other brokers and agents involved in the deal. Remember: real estate agents have to feed their kids too, so you can't be greedy. Real estate commissions in California are an average of 6%, so use that as your starting point.

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If your intention is to negotiate with the real estate agent over commission, you have to be willing to give her something worthwhile before she will agree. This is called leverage. If you have something she wants, she will make an effort to get it. It might be as simple as your business if you choose a Brampton real estate agent without many clients. However for bigger names, you'll have to sweeten the deal somehow. For example, it you're selling your home to buy another home or selling more than one property, you might offer to use her for both transactions instead of just one.

One situation in which you are definitely justified in asking for a reduction in commission is when your agent is also representing your buyer. This is called dual agency and it allows the agent to earn the entire 6% commission on a home for sale in Markham instead of splitting it in half with the buyer's agent. Most people tend to be leery of this situation because they're not sure if they can trust an agent who isn't firmly on their side, so you can - and ought - to leverage a reduction out of them if you're accepting it.

Another way of getting a reduction is to simply create some competition among the agents. If one Puerto Vallarta real estate company is offering to sell your home for 4.5% but you would rather have the agent that charges 5%, ask the agent if he will work for his competitor's rate. He often will, as the alternative is to lose business to the competition.



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