I have no idea why people are saying 1-2% is customary, or why they say it all depends on the transaction. The reality is that brokerage fees are a part fo doing business, period. the standard fee nationwide is 5% on all commercial transaction, regardless of sales price. when i go to a rest. the tip is generally 15%. Now people are saying we should tip more becuase people are going out less, but does someone tip me in my business? NOPE. If you are not a broker then you have no business answering this question. Fee is 5%. If you are paying a fee and your broker is only charging you 3% then you got a deal. Too many brokers are charging less than normal fee to get a listing and you know what? No one sells it because it is a lower fee. Hate to say that but it is reality. I sell things and i hire other brokers to sell my own stuff, and i am glad to pay them a normal fee to get the job done. Time is money, when you have something for sale and it sits on the market too long then that costs you money.
May 21, 2012