Real Estate commissions are a subject real estate agents don’t want to talk much about. Not that most don’t want to but we’re told that we can violate anti-trust laws if we make certain statements.
The facts are that real estate commissions are negotiable. Since I’m a statistics guy, I ran a report to see what the commissions were for Buyer Agents for homes sold in the last 3 months. I broke the report into 5 areas around the Central Coast.
The report was very interesting to me. It showed a big difference in commission percentages being paid depending on the area. For example, one area had 34% of homes above $600K paying a 2 percent commission to the Buyers Agent and in another area only 3% of homes paid the 2 percent commission amount. Why such a difference between areas that aren’t that far apart from each other??? I don’t have the answer.
I don’t know where I’m going with this post. I can’t publish the commission report on my website but feel every homeseller should know the facts. I guess I’ll just have to keep the info to myself so I won’t get into any trouble…