Commissions are negotiable. Here are rates typically paid:
* $395 added for listings taken at 6% or lower.
Commission Savings – On lower priced homes, a commission reduction does not provide significant savings. As does many other brokers, we charge an additional $395 for listings at 6% or lower. Below shows commission savings at 1/2% and 1% reduction from our full 7% commission. Examples take into account the $395 for 6% and lower rates:
From 7% to 6.5% From 7% to 6% + $395
$100,000 sale price……. $500 less $605 less only $105 less than 6.5%
$180,000 sale price……. $900 less $1405 less
$250,000 sale price……. $1250 less $2105 less
$400,000 sale price……. $2000 less $3605 less
From 7% to 5.5% + $395 From 7% to 5%+ $395
$750,000 sale price…. $10855 less $14560 less
BUYER PAYOUT: CBGundaker pays 45% of your commission to the buyer’s agent: 7% = 3.15% 6.5% = 2.925% 6% = 2.7% commission that is paid out to the buyer side of the transaction. Our Listing Agreement states in writing the payout that will be advertised to buyer agents. If interviewing with a competing company, be sure to ask what their advertised buyer payout will be.
Selling your home using a realtor nets you 16% higher than selling For Sale By Owner. Based on research conducted by the National Association of Realtors and published in the New York Times on Jan 5, 2005, using a realtor nets you 16% higher than selling By Owner. So, hiring a realtor for 6% to 7% is a good investment. A Realtor with a large company utilizing their advertising dollars and resources, will get your home market exposure a hundred-fold more than what you could do on your own, thus resulting in a quicker sale. Realtors provide an important service to the community.