There have been a lot of changes recently, including a reduction in standard rates and an uncoupling of sellers paying buyer agent fees, and I’m feeling pretty confused. As a seller, what’s the current going rate to pay a seller’s agent? Can I just skip paying the buyer’s agent commission? And will that make realtors less likely to show buyers my house? Thanks for any insight.
In my area (Putnam/Westchester), it’s typically around 3%. But yes, you can decide not to pay the buyer’s agent commission. Just a heads up though, this might make the buyer’s agent less eager to show your listing, since they won’t be getting paid. They might still show it, but they could tell their clients they need to cover their own fee.
@Gentry
That makes sense. So if they do show it, the buyers might be less interested since they’d have to pay extra?
All commissions are negotiable. As a seller, you can negotiate the rate for your listing agent. The same goes for the buyer’s agent fees. Just remember, there are pros and cons to each choice you make.
@Haru
Interesting, so it’s all up for discussion. That gives me more options than I thought.
Yeah, I’ve heard that commissions are changing. It seems like the whole system is in flux right now. Just make sure you communicate clearly with your agent about what you want.
Haven said:
Yeah, I’ve heard that commissions are changing. It seems like the whole system is in flux right now. Just make sure you communicate clearly with your agent about what you want.
Definitely, I’ll make sure to do that. Clarity is key, right?
I think not paying the buyer’s agent might limit your pool of potential buyers. If they expect to get paid, they might pass on your listing. Just something to think about.
Dru said:
I think not paying the buyer’s agent might limit your pool of potential buyers. If they expect to get paid, they might pass on your listing. Just something to think about.
Right, I wouldn’t want to scare off buyers. Thanks for the heads up.
In the current market, buyer agents are still important. If you decide not to pay them, just be prepared for some potential pushback. They might not be as motivated to sell your home.
Lilyharper said:
In the current market, buyer agents are still important. If you decide not to pay them, just be prepared for some potential pushback. They might not be as motivated to sell your home.
Got it, sounds like it’s worth considering how that could impact my sale.