We’re working with a flat-fee Seller’s Realtor. Is a 2% commission fair to offer the Buyers’ Realtors?
We live in Michigan. There’s only one other house for sale in my neighborhood, and homes in my city (if they’re nice & priced right) sell within weeks. Our house is updated, clean, well maintained, good curb appeal, move-in ready, etc. It’s in the $200k-300k range and will be on the MLS. So, it should be an easy-to-show property. Is it fair to offer a buyer’s Realtor 2%? Would Realtors steer their clients away from a home with a 2% commission?
The typical real estate commission is 6%, with the buyer’s agent and the seller’s agent splitting it evenly. If you offer 2% and brokers know that there are similar houses available for which they would get 3%, how much effort do you think they will exert to have a potential buyer look at your house? Answer: Not much.
Brokers may not actively steer clients away from your house, but I doubt they will steer them toward it either. The only way to find out for certain is to offer a 2% commission and see what happens.
I hope this helps.
Gary
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