LMCane said:
An Agent from REMAX in Maryland who I like and have met with twice gave me the proposed contract which calls for 5% fee.
does that sound correct based on the economy right now?
They are absolutely going to split that 5% down the middle and take 2.5% for themselves and 2.5% for the broker responsible for bringing a buyer. So really it's only going to be 0.5% decrease from what they'd normally make.
That being said - I know you're based out of the DMV area and average house prices are way higher there. So it's not uncommon for homes with a higher price tags to have a lower commission for selling because that 6% normally starts getting a bit excessive even by the "traditional" realtor standards.
That being said part 2 - if I had a client who brought me a home around that $800-$1M+ range, I'd have no problem reducing my commission to 1% to sell provided I knew said client wasn't going to try to egregiously take advantage of my time and abuse me. I find it very hard to justify why it should cost $60,000 (split down the middle) to sell a house in any market. But of course - a fool and his money are soon parted.
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