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Reply to "Are agents reducing their commission?"
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[quote=Anonymous][quote=Anonymous]We are listing our current house and buying another. We are using the same agent for both. Standard commission is 6%. She has offered to reduce to 5 1/2. Has anyone had success in getting their agent to reduce further? Is this commonplace, or should I just be happy with the 1/2 % reduction already offered?[/quote] Yes, it's common practice that if you are using the same agent to buy and sell that they charge less, 5% is typical. Her reducing to 5.5% all-in is just silly. Do you even need a buyside agent? And given agents rebates are proliferating in this environment, her 5.5% proposal looks even sillier. We got both agents to reduce their fees in our recent purchase, so all parties "met in the middle" to get the deal done (>$1m properties are moving slow). Dual agent deals cut rebates as well. [/quote]
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