I don’t charge average commissions because I am not an average Realtor. Sometimes the first question sellers ask me is how much I charge. I can relate because I like to plan ahead and when it comes to expenses. It is nice though when they at least know my name before they ask.
1878 wm
Random callers like to ask what the average commission rate it. I really can not answer that question because I don’t know. We (Realtors) are not allowed to discuss how much we charge amongst ourselves because it violates anti trust laws. Discussion is the first step to price fixing so we don’t discuss.
The important thing for a consumer to know and by consumer I mean a seller who hires and agent is that according to the Minnesota Department of commerce all commissions are negotiable. So negotiate dammit! Don’t ask me how much I charge and then ask me if that is average.
Here is a bonus tip. There is a fee usually charged by brokerages that is above and beyond the commission. It used to be called a broker admin fee but today it is called a broker commission. It is a flat fee and it is also negotiable. Most brokerages charge the agent the fee if the buyer or seller doesn’t pay it they take it out of the agents commission check.
Please ask questions, and negotiate where you can. In most cases sellers do not pay anything until the property is sold and there is a successful closing.
