20 May What commission rate should I expect to pay a realtor?
I am getting ready to sell my house and I’m wondering if the commission can be negotiated? What is the average amount people pay realtors?
You should definitely feel free to negotiate the commission rate. Commission rates vary by location, price range and broker. If you have a luxury home located in Los Angeles, you might be able to find a quality real estate agent to sell your house for 4.5% to 5.0%. This is primarily due to the extremely competitive realtor environment in the area. I have found that many agents in midwest states like Minnesota charge 7%. These are typically agents that offer professional property photographs, custom property websites, staging services, home warranties, hosted open houses, etc. Our experience has shown that the “typical” realtor commission rate across the country is 6%.