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Q: Real Estate Sales Commissions in Syracuse New York area ( No Answer,   3 Comments )
Subject: Real Estate Sales Commissions in Syracuse New York area
Category: Family and Home > Home
Asked by: cichick-ga
List Price: $10.00
Posted: 29 Oct 2006 13:40 PST
Expires: 28 Nov 2006 13:40 PST
Question ID: 778209
My sister is selling her house in Fayetteville New York. Fayetteville
is a suburb of Syracuse. She is about to sign with a real estate agent
who charges a 7% commission. I feel this is high. I live in Downtown
Boston and the most expensive commissions here are only 5%. My
question is:

Can any researcher tell me the average commission (percentage of sale)
for real estate agents in the Syracuse area? Am I correct that 7% is

Bonus question (generous tip): Can a reasearcher offer the names of 5
full service licensed real estate agents/agencies covering the
Fayetteville area who charge a 5% or less commission?

Clarification of Question by cichick-ga on 30 Oct 2006 07:38 PST
Thank you all for the excellent comments and suggestions!
There is no answer at this time.

Subject: Re: Real Estate Sales Commissions in Syracuse New York area
From: tr1234-ga on 29 Oct 2006 15:21 PST
I've always heard of 6% as the typical assumed rate for real estate
commissions...but I note that this month's (November 2006) issue of
MONEY magazine covers as its "Question of the Month" the question of
lowering a real estate agent's commission and claims that claims that
the average national commission is 5.1% according to "industry
consultancy Real Trends" but observes that it's not the best
environment for sellers to haggle over commissions. (Lots of
inventory, lots of listings, not a lot of buyers except maybe in
highly desirable locations, etc.)

The article also mentions as a site that allows
agents to bid on your listing and as a discount broker
(where the seller would still have to do some work him/herself) is one
is unable to convince tour agent to lower the commission.
Subject: Re: Real Estate Sales Commissions in Syracuse New York area
From: jeraboo-ga on 29 Oct 2006 17:57 PST
What's the selling price? Progressive Homesellers offers coverage
there for a $3995 flat fee. Full service.
Subject: Re: Real Estate Sales Commissions in Syracuse New York area
From: daniel2d-ga on 29 Oct 2006 20:43 PST
It doesn't matter what the "average" commission is.  The rate it
negotiable.  The standard advice is to interview three real estate
professionals (use only full time people not part timers).  Each
should present you with comparable market analysis to determine what
the home is worth and in relation to market conditions where to price
it.  Do not sign an agreement longer than 90 days, or if longer than
90 days, cancelbale after the 90 days.  This way if the agent is not
performing you can have the option of going with someone else. I agree
that 7% is on the high side.  Perhaps 7% if the house due to some
inherent defect might be difficult to sell or theh agent brings a full
price buyer and settles at that price.  Can't hurt to negotiate a 5%
or 6% commission.

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