How to Negotiate Your Real Estate Agent's Commission

Series Summary

Real estate is a legal term that encompasses land, along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location. With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. In this free real estate video series, a licensed agent discusses the various steps to buying a home. Learn about hiring a real estate agent, negotiating the agent's commission and finding a discount agent. Find out how much to offer on a home, how to make an earnest money deposit and how to get a home warranty. Also, get loan advice like getting prequalified for a home loan and saving money for a down payment. Real estate can be a tricky business, but with the right information, buying a home is simple and rewarding.

Video Transcript

"Negotiating your real estate agent's commission when selling a home. I'm Richard Blake and I'm here to explain to you how you can negotiate your real estate agents commission when selling your home. This isn't something that I would normally talk about because I'm a real estate agent myself. But there are a few options that you have. The old adage is true, you get what you pay for. If you are looking for a discounted commission there are several discounted brokers in the area. The place to start looking for those, the easiest places are going to be on the internet. A lot of these full service brokers will offer discount pricing on certain packages that they have, so for example if you don't want the full advertising efforts of the company or of the agent themselves, they'll offer different packages to you at lower pricing and discount pricing so to speak. Again you are going to want to look for those on the internet, as easy as google, googling a word such as discount brokers in what ever your local city is. That will pull up a list of the brokers for you then you are going to find on their website, just look up the commissions on their website and generally they are going to have two or three packages for you to choose from. And then at that point you can contact them and negotiate what is going to be the best commission rate for the structure or of the advertising that you need for your home in order to get it sold. Again I would recommend going with a full service broker to begin with, and up front ask them if there is anyway to negotiate the commission, depending on the saleability of your home, the condition of your home, all these different items, are going to factor in whether or not a real estate agent is going to negotiate their commission with you. Again you get what you pay for. If you have a property that's going to be difficult to sell, that agent is probably be a little bit slower to negotiate their commission with you but it still, it's worth a try again you get what you pay for. I am here to show you how to negotiate your real estate agent's commission when selling your home. I'm Richard Blake have a great day."