Has anyone ever negotiated their realtors commission? We are going to start the selling & buying process pretty soon. We have found a realtor we want to use but Im wondering if its worth trying to negotiate. For reference our house should sell relatively quickly (we are in a good area, house is well maintained, schools are good) and we will be using this realtor for selling and buying. Realtor also owns his company and will not be paying any of his commission to an agency.
If anyone has tips, Id love to hear them!
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The market is so intense here that realtor's will send you to someone else if you negotiate commission.
The only way to get a reduction is to use a listing service. -
@oliviaoblivia: that may certainly be the case here as well!
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Totally depends on the state of the market. Our area, particularly at this time of year, is super hot so it's unlikely anyone would negotiate.
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We didn't outright ask but we told him we were also considering a realtor who had a rebate program with our credit union. To get our business, he offered a rebate himself.
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We are USAA members and they have a special deal, but we wanted to go with a local agent. He gave us a deal to kind of "match" the USAA deal. He otherwise doesn't negotiate. (We didn't actually ask him to do it. When we bought our first house a few years ago, we asked her about it, and he said he would do something for us when the time came.)
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I think you can ask esp since you're also using them for the purchase.
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@Jess1483: they do!?! I didn't know this. What's the deal?
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@mediagirl: it's called mover's advantage and you work with an agent they have a relationship with and there's some sort of cash back or something. We never really looked into it that far--we were willing to use our realtor even without the deal.
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Our realtor knocked down her commission percentage if we sold and bought with her. It wasn't much but better than nothing.
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We just sold our rental house with a 1% commission to selling agent and 2% commission to buying agent. We updated the property so it was ready for a quick sale (we had 4 offers within 24 hours of listing, most above asking) and the selling agent was actually the one to suggest reducing the buying agent commission to 2%.
We bought our current home in 2013 using Redfin, which provides a refund on the buying agent's commission at closing. I believe Redfin also offers reduced commission on selling homes, but I'm told our rental property was below Redfin's list price limit for selling in our particular area.
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