What's typical? Realtor Commissions - 5%, 6%, 7%+
I'm trying to sell my first house - so I'm a little clueless and could use the advice of those of you that are more experienced at this kind of thing. I haven't put my house on the market yet, but will be sometime in the next few weeks.
I just met with a woman that seems like a good agent, but when she hit me with her commission. which was 7%. I asked if that was more than normal, that I thought 6% was the most common and I'd even seen 5% out there. She held strong to her quote of 7% and she told me that if I saw an agent quoting me 6% to sell my house, she wonders what they're not giving me that she is at 7%. I gave her three different opportunities
to tell me her rate was negotiable, but she didn't bite.
I know this is all my choice, but I'm curious what you all that have more experience at this thing can tell me. I'm in a suburb of Buffalo (NY) and my house will list for right around $200K. so we're obviously talking about a $2k difference between 7% and 6%. let alone anything lower. So far, she's the only agent I've met with - but that's why I want to hear what you all have to say. If the standard rate is really 7% in my area - I don't want to be forced to be a bottom feeder to find an agent that will charge lower and then pay for that 1% with a lesser representation and maybe a lower sales price or maybe a longer time on market, etc.