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Q: realtor's commission - Denver metro?
What is the going rate right now? 5%, 6%, 7% ?
1. I'm trying to sell my house in Broomfield, CO (asking around $215K), and I have a realtor that a friend recommended. Looks like the realtor is a pretty experienced, reputable guy. He gave me the Exclusive Right-to-Sell contract paperwork to sign - in the commission section he'd printed 7%, then crossed it out with a pen and wrote 6%. Is that a psychological trick that he's playing to make me feel I should be happy I'm only paying 6% ? (There's also a clause in the contract that the listing agent will get 2.8% of the gross sale price.) I should point out that I'm planning to use the same guy to buy my new house (also in Denver Metro.) So I'm wondering if I should mention that when trying to negotiate a lower commission (cuz he's getting more business from me.) What is a lowest comission I should be reasonably able to negotiate? 4, 5%? 2. Also, the listing period he put down in the contract ends on March 31, 2006 - 5 months out. Is that normal, or a little too long (another point I should negotiate?) 3. One last thing: Under Additional Provisions: "At the time of closing the Seller agrees to pay RE/MAX a one time transaction fee of $545" Is that BS - one of those junk fees I should tell the guy to take out? TIA for your advice. |
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