OfflineI had a question if its not too much of a bother i will really appriciate any who can help. When it comes to the real estate agent, how much such the commission be based on sales and so on.. would the agent give me their own price or should i give them a offer? if i do make an offer, what would you say would be a good percentage?
__________________
~jenni~
If you are buying a property the seller has to pay the entire commission. If you have plans of buying and then flipping (selling the property) you can negotiate the commission.
In most states the commission can vary between 4% (for very high end homes) to 8%. I have found in my area (the midwest) the typical average commission is around 6%. The selling agent and the listing agent usually split the commission. In this example at 6% each party would get 3% ofthe commission.
You may want to negotiate with a listing agent if they also sell your home that you would only have to pay say 4%. It is entirely up to you and the agent what you agree on. I hope this helps. Good luck with investing. Believe and Achieve!
- Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Hello Jenni: Thanks for asking this question so others that are more knowledgeable that myself could give you the right answer. Indiana-Joe has been at this longer than me. There are also many other people on DG.com that can help you, too. I learned something today, also. Good luck, Johnny D.
Hi Jenni,
If you find a realtor that you can place on your team, pay them a little more because they will then be paying more attention to deals for you. This is called "just rewards" and "incentives".
Do not be shy by sharing wealth.
Best Regards,
Fanie
The greatest force on Earth, compounding interest. - Albert Einstein