You asked for it and here it is. This blog post is all about Tips On Realtor Commissions. Many Los Feliz and other Eastside L.A. would-be home buyers and sellers aren’t aware of the fact that commission rates for real estate agents can vary. The idea of the flat commission is so ubiquitous, it can be difficult to find resources that help Los Feliz real estate homebuyers and sellers review their options and compare the rates of different real estate professionals.
Let The Games Begin
It’s true that letting agents compete for your business is a smart strategy; however, I’d be wary of the Realtor that is quick to cut their professional fee. At the end of the day, if a real estate agent is fast to take a discounted fee how likely will they protect your money when the negotiation conversation opens up with the buyers and their agent?
When working with a Realtor like myself to find the perfect Los Feliz property to call home, as either a homebuyer or seller, you’ll be armed with all of the information you need to make an informed and wise real estate decision – and that includes transparency when it comes to commission costs. You might be surprised to discover that commissions, like the price of a real estate property, are in fact negotiable.
Although as a real estate buyer you don’t have to worry about commissions at all. A Realtor helping you buy a property is compensated by the seller or you can think of it as the Listing Agent splitting their fee with your agent.
Don’t be Penny Wise And Pound Foolish
When choosing a Listing Agent to sell your Los Feliz Home, you’ll be meeting with a handful of Realtors that are either referred to you by a family member or friend, or you’ll do some homework online and reach out to a neighborhood expert like myself. You’ll need to listen to your gut and choose the agent you believe has the best marketing strategy, negotiation skills, and communication style. Basically, the person you believe will get the job done of selling your home in the shortest amount of time for the most money.
A standard fee in Los Feliz and all of Los Angeles CA for a top tiered Realtor is 6% of the property sale and the Selling Agents fee is included in that percentage, Selling Agent is also know as the Cooperating Agent. Unless you’re listing a home above ten million at which point the commission is sometimes adjusted a bit lower.
As a side note, the listing Agent will also spend, or they should anyway, a large amount of their own money on marketing your property both online and with hard-stock marketing materials. The great Agents will also schedule catered broker open houses or neighborhood open houses immediately upon listing your property on the MLS (Multiple Listing Service). This way the local real estate brokers and real estate agents will have an opportunity to preview your property and line their buyers up for a showing. This strategy has proven to be a success in getting a property into multiple offers immediately upon coming on the market for sale. In fact, I proved the strategy this past summer on a Los Feliz property that you can read about here: Interview: Stephan Dorlandt
Selling your home is one of the most important transactions you’ll ever make in terms of emotional and financial significance, and I want you to get the best deal possible without leaving any money on the table.
I hope you enjoyed this blog post: Tips On Realtor Commissions. If you have any more questions about commission rates or anything else to do about buying or selling a Los Feliz property, don’t hesitate to reach out to me. I love hearing from our local neighbors and I especially love talking about real estate and where our Los Feliz real estate market is heading.
Tips on Realtor Commissions
I’m a local real estate agent with The Shelhamer Real Estate Group, and It would be my pleasure to help you find the perfect property to call home in Downtown Los Angeles, or if you’re thinking about selling a house, condo, or multi-family building in, Los Feliz, Silver Lake, Atwater Village, Glassell Park, Mount Washington, or Downtown Los Angeles, it would be a privilege to help you get top dollar for the sale of your property.
Let’s chat sometime. 310-913-9477 or contact me.
