2:15 pm ET
August 29, 2012 May 19, 2015
Q: 1) What is the typical range or fixed rate of commision for seller’s realtor when selling vacant land? How negotiable is this?
2) Does the qty of land (eg 2 acres vs 100 acres) affect realtor’s commission?
3) What’s the avg base salary range for a Realtor working for a well-known agency (apart from/ IN ADDITION to the commissions they get )? Or is commission the only income for realtor working for a real estate agency?
4) Is it unwise for Seller to allow his Realtor to also be the Buyer’s realtor (ie a “:double agent” so to speak? If
so, why? If not, why not?
A: Realtors can’t fix their commission. Each office has a different one. I suggest you interview a few different companies and compare what each can do.
A: Dear MI Seller,
I am a California Licenses Realtor, so things may be different in your state. In my area, it is customary to charge 6% for a standard residential sale. With lots and land, the commission is usually significantly higher, due to the nature of selling lots and land. It takes longer and more marketing dollars to advertise/market land and see it through the entire sales process. As a result commissions on land sales are often anywhere from 10%-20%.