Shaving real estate commissions can save sellers thousands
By Mark Yemma
David Herron doesn't consider himself a particularly hard-nosed negotiator. After all, Herron works as a technical service specialist for the Fantasmic show at Disneyland, and that happiest-place-on-Earth attitude tends to rub off.
But when Herron decided to sell his Lake Forest home last year, he was determined to find a real estate agent who was willing to cut a deal on the usual 6% commission -- the fee traditionally paid by home sellers to the listing agent who quarterbacks the complex transaction.
That agent, in a system akin to "The Sopranos" but handled more tidily in escrow, must hand over cuts of the cash to the buyer's agent and other brokers involved in the transaction.
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By Mark Yemma
David Herron doesn't consider himself a particularly hard-nosed negotiator. After all, Herron works as a technical service specialist for the Fantasmic show at Disneyland, and that happiest-place-on-Earth attitude tends to rub off.
But when Herron decided to sell his Lake Forest home last year, he was determined to find a real estate agent who was willing to cut a deal on the usual 6% commission -- the fee traditionally paid by home sellers to the listing agent who quarterbacks the complex transaction.
That agent, in a system akin to "The Sopranos" but handled more tidily in escrow, must hand over cuts of the cash to the buyer's agent and other brokers involved in the transaction.
Please Click on the Below Link to Continue Reading This Post:
http://www.latimes.com/business/la-fi-cover-homeselling6-2009dec06,0,227...
George
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