Expert, localized Los Angeles answers provided by Heather Roy

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Realtor Asking 6 Percent

  My Realtor is asking 6% to sell my home, will they except less?
 
  I'm chuckling. Commission rates are certainly negotiable between owner and agent, but there's no way I can guess whether that particular agent wants to negotiate.
Let me ask you another question:  Will you expect less than your asking price for the house?  No way I can guess that either.  It'll probably depend on how carefully you priced the place to start with, how many people have come to look at the place, how long you've waited for an offer, whether you're under some pressure to move, if the place is standing empty, if you're already paying carrying costs on your next home, if you need the money quickly.
My guess is that an agent might be ready to discount his or her usual rate if your home is very expensive, if you've priced it low for a quick sale, if you're ready to do some of the marketing job on your own and pay for just limited services, if the agent is not busy at the moment.
In other words -- I simply don't know the answer to your question.  As with so many other things, it all depends.
    Edith
Originally published on October 30, 2007
 
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