Is a Mt. Washington Real Estate Agent’s Commission Negotiable?

By: Tracy King Realty   10/15/2015
Keywords: Apartments, apartment operator

When buying or selling real estate in Mt. Washington, you’ll need to form a relationship with an experienced Mt. Washington realtor who possesses a record of proven success. Homes in Mt. Washington, CA are always in high demand and whether one is buying a home or selling a home, large sums of money are going to be switching hands.

Real estate business structure is pliable because it is constructed by negotiations and compromises set on the intent of satisfying all associated parties. Agreeing on a commission rate is essential to any real estate relationship. The average commission rate is 6%, but it’s vitally important to remember that this sum will trickle down through other people before your agent receives it.

There is nothing wrong with asking your agent to lower his or her fee. The worst answer you may get is “no”. In fact, approximately fifty percent of sellers ask for a lower commission rate. It is uncommon for buyers to inquire about lower commission because it does not affect them. Some agents may have less flexibility to modify their commission because their brokerages enforce a minimum percentage. The commission percentage is typically split between the buying and listing agent and some agents may work for companies who take a large percentage of their commission.

There are specific circumstances in which an agent may lower his or her fees by a half or whole percentage. If the agent is working on becoming known in Mt. Washington, if they are selling a high-end house or selling in a “hot” neighborhood like Mount Washington, they may accept a lower commission. If a seller has multiple properties to sell at once, the realtor may produce a “group deal” and lower their rate. If you waive somemarketing services, like open houses or social media advertising they may drop their commission rate to compensate the time they will be saving. Lastly, if a seller takes an item that was supposed to come with the house, like the washer and dryer, the realtor may drop his or her commission by the price of a washer and dryer for the sake of the buyer.

To make the most out of your relationship with your Mt. Washington realtor, keep these tips fresh in your consciousness. Do not allow their share of the commission to drop below three percent. They need incentive and desire to put their energy into selling your home. If your real estate agent is working for a lower commission, be cognizant of standard prices to ensure that you wont get marked up for extra fees. If you are working with an experienced agent, appreciate their value and the years of experience they will utilize to sell your home for the highest price. An experienced agent with higher commission could get you a significantly higher price than a lower commissioned agent with less experience.

Before you select a realtor you should committo intensive research to ensure they are the right person to sell your home in Mt. Washington. Ask around your friends and neighbors and see what positive experiences they had with past realtors. Another useful source is the Internet. Any website such a Yelp that has reviews can provide “backend” insight to a potential realtor’s past work. Once you select a realtor, here are some questions to ask to see if they are right for you.

o On average, how long do your listings stay on the market?

o What is your usual commission rate?

o Do you have much experience selling homes in this area?

o What will be your strategy to selling my home?

Once you select a realtor and agree on a commission percentage, sit back, relax and let your Mt. Washington home be sold!

Keywords: apartment operator, Apartments

Contact Tracy King Realty


Print this page

Other news and updates from Tracy King Realty


Pasadena Real Estate: A Look at the Numbers

Pasadena is considereda powerhouse city located only ten minutes northeast of Los Angeles. The city has earned a reputation as


Mt. Washington Real Estate: A Look at the Numbers

For many years - decades, in fact - the LA district of Mount Washington was one of the hidden treasures


Echo Park Real Estate: A Look at the Numbers

From LA’s earliest days, people have wanted to live in the storied neighborhood of Echo Park. It is a densely


Highland Park, CA Homes and Real Estate - A Look at the Numbers

In Los Angeles real estate circles, everyone is talking about Highland Park. Like other Northeast LA neighborhoods like Silver Lake,


Glassell Park Real Estate - What the Numbers Tell Us

Real estate in Glassell Park, a hillside neighborhood adjacent to red-hot Mt. Washington and Highland Park - is in high


Altadena Real Estate - A Look at the Numbers

The real estate market in Altadena, CA is red hot. Homes for sale in Altadena command high prices and never


Why Buying a Home in Glendale, CA is a Good Idea

Glendale is the third largest city in Los Angeles County. This suburb of the Greater Los Angeles Area is the


Why Altadena, CA is a Great Place to Buy a Home

Altadena is a charming city located north of Pasadena, CA and south below the hills of the picturesque San Gabriel


Highland Park: A Look at Real Estate and Architecture

To those monitoring real estate trends in Los Angeles, it’s no surprise at all to know that the NELA district


Highland Park: The New Echo Park

Echo Park has the reputation of being one of the greatest neighborhoods in LA. It’s more affordable than Silver Lake,


Glassell Park Real Estate: It's All About Spacious Contemporary Hillside Homes

Glassell Park is a hilly span of land in Northeast Los Angeles and several areas of NELA have been experiencing


Los Angeles' Mt. Washington: A House Flippers Paradise

The Northeast Los Angeles community of Mt. Washington is one of LA’s hottest real estate markets. Homes for sale in


Living Life in Historic Highland Park

The Los Angeles community of Highland Park is an in-demand community whose rich history lays the foreground for a unique


Highland Park: Trendy for Real Estate and Dining

Los Angeles’ most exciting enclave is the chic, trend setting, artistic living Highland Park. And it isn’t just the rising


Eagle Rock: Trendy for Real Estate and Dining

Eagle Rock is a popular neighborhood based in the hilly region of Northeast Los Angeles. Notarized by a giant rock