Keep in mind that any commission suggestion is just that. Commissions are totally negotiable and most astute agents will do just that. For the buy side 2% is a level most often suggested. However, it really depends on what you will expect the buying representative to do in the transaction. I would actually offer more to the listing agent who has to do an excellent job of marketing the property for you. While the buying side is extremely important because nothing happens until someone decides to buy, I honestly believe with the properties that are available on various Internet listing services today, that a buying agent should be satisfied with 1.5% on $6+ million.
That is my opinion. I have represented a ton of prospective buyers over the years and I totally understand what it takes to place the right property with the right buyer. For me $90,000 would be a good payday on a $6 M purchase for a client.
Onward and upward David.... Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: firstname.lastname@example.org
Apr 14, 2011