No. of Recommendations: 3
I am currently selling some residential real estate in the US. Given recent headlines, there might be some room for negotiating commissions, no?
There are 4 or 5 “good” local brokerages. I approached each of them, suggesting we negotiate an alternate commission, or commission structure. My idea: 1% on, say, the first million (an amount I figured I could get on my own) and 20% on anything above that.
Most of the firms agreed to negotiate, but none would consider a stepped fee, or go below 5% (combined for both brokers). This is the standard pre-settlement deal. BHRE heard my idea, and gave me a flat no, no offer to negotiate anything, no interest in continuing the conversation.
Maybe we haven’t heard the end of the legal problems in the industry?
