New build realtor commission
G NC
3 years ago
Featured Answer
Sort by:Oldest
Comments (48)
chispa
3 years agoJoseph Corlett, LLC
3 years agoRelated Discussions
Advice Realtor when building?
Comments (9)In my area, most developments have realtor deals where they get the usual commission even for a custom built house. A friend build a $1.1M house. The realtor introduced him to the builder and made $30k for her and her company. Not bad work if you can find it. Now they were looking for resales and decided to build and she did introduce the builder to them. I don't know if the realtor helped with the process after that. The city developments all have contracts that essentially require a buyer's agent and if you don't have one, then the agent for the development gets the full commission. We were able to cut that part out but only because of the current market. It does seem like most people on this forum are not building in such developments. I don't really think a realtor knows how to build a quality house but they could advise you on resell value items. Like - in this market you must have a formal dining room, a seperate jacuzzi tub etc and also keep you from building a 5000 sq ft house in a 2000 sq foot house area. If you know what you are doing, you probably don't need this advice....They might have some good ideas and they might not. As an aside, I think the outlets in the baseboards is such a cheap and nice thing to do. We paid $10 to the trim carpenters per outlet......See MoreRealtor is still trying to get 3% commission for referrals!
Comments (23)villa - "Does she offer a 3% referral fee to the builder for any clients he refers her way? I think not." Perfectly stated. In her email she even admitted she didn't know what builders she referred us to. She named two and then said she couldn't remember the rest. I did actually research a bit and read only brokers can receive the commission. She is not a broker, but works for one..it could be they had something worked out. Still, bottom line is she never told us and also the fee amount is ridiculous. Then we are supposed to list it with her and she gets yet another cut. So crazy. This whole thing didn't pass the smell test and I so appreciate, yet again, the members here offering so much experience and advice. lazygardens, I know..that comment she made was a cheap shot IMO..like "all you bought was land!"...See MoreSchtoopid question about realtor commission
Comments (49)I realize the original thread is a year old. But as someone who has sold and bought a house in the last year, I have really been struck about how real estate selling/buying has changed over the recent years but how agents are compensated really hasn't. When I first bought a 30 years or so ago, things really were different. For example, in buying a house I used to expect the agent to find houses for me and send me information on houses for me to choose to look at. Nowadays I just never do that. At most the agent will set up a search to my specifications, but, really that search didn't find anything I didn't find through the searches I made through MLS. I am bemused at times when I see people talking about agents not showing flat fee listings, etc. From my standpoint, I don't quite see how that would work since I'm the one (as buyer) who tells the agent which house I want to see... I also think that with all the computerization in my instances the buyer's agent spends more time helping the buyer find a house than the seller spends selling the house. It doesn't bother me that the selling agent usually doesn't show the house -- there is no particularly reason to expect them to personally find the buyer. Still when I think back to the last couple of houses that I sold and the last couple of houses that I bought the buyer's agent spent more time than the listing agent spent. I understand the concept of the 6% fee. Those who sell compensate for all those who don't sell and the more expensive houses compensate for the less expensive houses. It is not too dissimilar to the contingency fee that an attorney might get for an auto accident case where that fee compensates not just for the one case but really for all the cases where there was no recovery or only a small recovery. It does seem strange though that -- unlike other fields -- in real estate the model for how agents are compensated and the amount of the fee hasn't changed....See MoreIs it OK to ask realtor to drop commission
Comments (12)I don't think you necessarily have to ask. Make your offer based on what you want to pay. The agent may then decide to cut his commission to make the deal work. It may depend on the other offer. For example, let's say that the other party offers $380,000. After paying a 6% commission of $22,800 the sellers would net $357,200. Your agent would then split that commission with the other office and his office would receive $11,400. If you offer $375,000 your agent would be able to reduce the commission to $15,000, enabling the sellers to walk away with $360,000 AND put more money in his pocket. So you don't have to actually come out and ask for the reduction in commission. You can bet that your agent will be looking at how to make it a win/win/win situation for you, the sellers and himself....See Morevinmarks
3 years agoDavid Cary
3 years agoG NC
3 years agoCharles Ross Homes
3 years agojust_janni
3 years agoshead
3 years agoMark Bischak, Architect
3 years agoWestCoast Hopeful
3 years agolittlebug zone 5 Missouri
3 years agolast modified: 3 years agoSummit Studio Architects
3 years agolettersatoz
3 years agoG NC
3 years agoWestCoast Hopeful
3 years agoUser
3 years agoG NC
3 years agoJeffrey R. Grenz, General Contractor
3 years agolast modified: 3 years agoWestCoast Hopeful
3 years agorrah
3 years agolast modified: 3 years ago3onthetree
3 years agovinmarks
3 years ago3onthetree
3 years agoshead
3 years agoG NC
3 years agoUser
3 years agoMrs. S
3 years agolast modified: 3 years agoshead
3 years agoG NC
3 years agolast modified: 3 years agorrah
3 years agolettersatoz
3 years agolittlebug zone 5 Missouri
3 years agoUser
3 years agoDavid Cary
3 years agoCharles Ross Homes
3 years agoG NC
3 years agolast modified: 3 years agoJaime Cooper
3 years agoUser
3 years agobry911
3 years agolast modified: 3 years agoLisa Diazsbh
last monthsushipup2
last monthWestCoast Hopeful
last monthWestCoast Hopeful
last monthMark Bischak, Architect
last monthsushipup2
last monthlast modified: last monthMrs. S
last month
Related Stories
KITCHEN DESIGNSmart Investments in Kitchen Cabinetry — a Realtor's Advice
Get expert info on what cabinet features are worth the money, for both you and potential buyers of your home
Full StoryMODERN ARCHITECTUREHouzz Tour: 2 Modern Buildings on an Upscale Farm
Olive trees and acreage provide enviable views, but the architecture is a sight to behold too
Full StoryWORKING WITH PROSHow to Commission Custom Wood Furnishings
Can't find just the right table, shelf, desk or what have you? It's woodworkers to the rescue
Full StoryREMODELING GUIDESSo You Want to Build: 7 Steps to Creating a New Home
Get the house you envision — and even enjoy the process — by following this architect's guide to building a new home
Full StoryFENCES AND GATESGreat Home Project: Commission a New Fence or Gate
Find out typical costs, the most popular materials and what you need to do before you get started
Full StoryCONTRACTOR TIPSBuilding Permits: When a Permit Is Required and When It's Not
In this article, the first in a series exploring permit processes and requirements, learn why and when you might need one
Full StoryREMODELING GUIDES6 Steps to Planning a Successful Building Project
Put in time on the front end to ensure that your home will match your vision in the end
Full StoryMOST POPULARWhat Is a Living Building?
Part philosophy, part advocacy, the Living Building Challenge is pushing designers and homeowners to rethink how we live
Full StoryMODERN HOMESHouzz TV: A Son Builds on His Father’s Architectural Legacy
Architect Anthony Belluschi updates and expands a home that Northwest modernism pioneer Pietro Belluschi designed nearly 60 years ago
Full StoryCONTRACTOR TIPSYour Complete Guide to Building Permits
Learn about permit requirements, the submittal process, final inspection and more
Full Story
sushipup2