(Closed) How much did your realtor earn?

posted 5 years ago in Home
Post # 1
Member
10589 posts
Sugar Beekeeper
  • Wedding: January 2011

No poll, as there are too many options.  Feel free to include the dollar amount if you want.

Tagged: ,

Post # 3
Member
10589 posts
Sugar Beekeeper
  • Wedding: January 2011

Here, most realtors charge 3.5% on the first $100000 and 1.5% on the remainder.  There are discount places, but we decided to go ahead with a realtor who gets paid under the more common method.  We spoke to a few, none were willing to negotiate on that.

I do think it’s a bit steep considering the house prices!  Why should our realtor get paid more if we buy a $500k house instead of a $350k house?  The less expensive house would likely be more work, as there’s more competition.

Post # 4
Member
1720 posts
Bumble bee
  • Wedding: March 2013

$7200.

Post # 5
Member
469 posts
Helper bee
  • Wedding: December 2013

according to the 3.5/1.5 rule… our relators got about $4,000. Not bad for 1 month of searching (only on sundays) and not really doing much else. lol

 

My poor mortgage guy. If anything after our house he deserved a raise!

Post # 7
Member
3968 posts
Honey bee
  • Wedding: September 2014

I don’t think there’s a rule. I think each realtor company charges a different percentage. I know when we tried to sell my grandparents house I think we negotiated down to 2.9% because we didn’t sign up for a lot of their “tools.” 

Post # 8
Member
887 posts
Busy bee
  • Wedding: March 2010

Sellers pay 7% (3.5% to each realtor) for homes in our area. The real estate company we use also charges $110 administration fee per transaction (buying or selling). We’ve had five transactions with our realtor since February 2012, so I think we’ve been pretty good clients for him 🙂

Post # 9
Member
12247 posts
Sugar Beekeeper
  • Wedding: May 2013

Oh man!

In Vermont, 4% is standard, and 10% if it’s a mobile home!

And it’s not like they take 100% of the comission… a lot of it goes to their office!

Post # 10
Member
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

Our buyer’s agent made $16k on our deal. She’s a friend, so I was thrilled for her to get that paycheck. 🙂

Post # 11
Member
9681 posts
Buzzing Beekeeper

When we use a realtor (and we usually don’t), we don’t pay more than 2% ever. Essentially all you need is a lawyer and I hate giving money to people to do something I can do myself. As far as I’m concerned, it’s money wasted and who likes to do that?

Post # 12
Member
10589 posts
Sugar Beekeeper
  • Wedding: January 2011

@MrsPanda99:  I kinda of agree, but the market here hasn’t caught up.  If we tried to buy without a realtor, viewing certain houses may have been an issue.  The house we bought was in a fairly hot area.  Most go pending within a week on the market.  The one we purchase was on for quite a while, I suspect because it was comfree.  Good for us, not so much for the sellers.  I guess in the case of this house, we would have done ok without a realtor, but we didn’t know that going in.

I also liked having an experienced realtor for our first purchase.  I doubt we would have saved his full commission on the sale price if we tried to negotiate that anyway.

Post # 13
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

Each agent typically makes 3% in CA where we live (unless it has been negotiated otherwise). Usually the real estate company makes a huge chunk of that, so the agent doesn’t make 100% of the commission (by a long shot).

 

$14,280 went to each agent (so $28,560 total). The seller pays the agent.

 

Post # 14
Member
469 posts
Helper bee
  • Wedding: December 2013

@AB Bride:  to be completely honest … I’m not sure lol.  All I know is my closing cost were $4600. But we used my FI’s best friends parents as realtors…. found out later the reason he pushed so hard was bc they gave him $800 dollars since we used them. Not happy bout that lol

Post # 15
Member
1778 posts
Buzzing bee
  • Wedding: August 2010

We were the buyers and ogot agent got about 12.5k. The seller’s agent got 11.4k, I have no idea why they were different. 

Post # 16
Member
10589 posts
Sugar Beekeeper
  • Wedding: January 2011

@cupcakebride2013:  Yeah, you should be informed of any type of compensation ahead of time!  I’d be annoyed too!

 

@newlynesting:  

@BrandNewBride:  That’s really high!

I was joking with Darling Husband that our realtor made $1000 for each house we saw.  It wasn’t quite that high, but pretty close!  Especially if you omit the few houses that we walked out of because they were in horrible condition.

The topic ‘How much did your realtor earn?’ is closed to new replies.

Find Amazing Vendors