Sure most real estate brokers will charge a standard commission, but you just never know, you may be able to bargain them down to a better price. The general trend lately has been for these rates to come down, but it is worth trying to get them even lower if you can.
The law requires that commissions are subject to bargaining to prevent "price fixing" scenarios. Even just one point can save a huge amount when dealing with a real estate commission.
The moment you have decided to try bargaining with your real estate broker, an initial research will be helpful to familiarize yourself with the current rates. You might not know it, but as a seller of a home, you do have a lot more power over the situation.
Get several commission estimates from different brokers. Then use the numbers you've found to get the best rate. It can also help to do some homework to see if you can find any weaknesses for the brokers that you can use to strengthen your case for a lower rate.
The Internet can make it easier to do the research you'll need in order to negotiate a commission. In fact, the Internet has done a lot to increase the overall competitiveness between brokers, which can also help a person get a better deal.
Offering incentives to your broker can often be a good way to get a lower rate plus a faster sale. For example, offer an extra bonus if the house is sold by a certain date, or if it sells for at least a certain price.
If after all this, you still cannot get a cheaper commission rate, then you need to see if you can find a broker who has a cheaper flat rate. Usually, these can be found online, they often save money by not having physical offices.
The cheap ones will often let you select which services they will do. If you do this, then you can cut back where you want and save some cash.
The law requires that commissions are subject to bargaining to prevent "price fixing" scenarios. Even just one point can save a huge amount when dealing with a real estate commission.
The moment you have decided to try bargaining with your real estate broker, an initial research will be helpful to familiarize yourself with the current rates. You might not know it, but as a seller of a home, you do have a lot more power over the situation.
Get several commission estimates from different brokers. Then use the numbers you've found to get the best rate. It can also help to do some homework to see if you can find any weaknesses for the brokers that you can use to strengthen your case for a lower rate.
The Internet can make it easier to do the research you'll need in order to negotiate a commission. In fact, the Internet has done a lot to increase the overall competitiveness between brokers, which can also help a person get a better deal.
Offering incentives to your broker can often be a good way to get a lower rate plus a faster sale. For example, offer an extra bonus if the house is sold by a certain date, or if it sells for at least a certain price.
If after all this, you still cannot get a cheaper commission rate, then you need to see if you can find a broker who has a cheaper flat rate. Usually, these can be found online, they often save money by not having physical offices.
The cheap ones will often let you select which services they will do. If you do this, then you can cut back where you want and save some cash.
About the Author:
The writer has been writing with respect to commissions for the past four years. In addition, the individual loves contributing information about New York City neighborhood subjects, including Upper West Side apartment rentals in addition to Tribeca apartments.
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