How to negotiate commissions with a Real Estate Agent in San Diego

It’s mind-boggling how often I talk to home-sellers who never broached this subject with their Agent! When you are hiring someone to sell your home, it is absolutely your responsibility to bring up the conversation about commissions. There is too much money on the line to pay full price every time. Here are a few good opening lines:
– “So, what do you think is a fair commission rate if I decide to hire you as my agent?”
– “What is a normal commission rate for selling a home like mine in this area and what would your rate be if I hire you?”
– “I’m interviewing several agents to sell my home, tell me why I should pick you and what your commission would need to be…”

All are good examples of how to start the conversation to negotiate commissions with your real estate agent. One of my favorite quotes of all time… “You don’t get paid what you’re worth, you get paid what you negotiate” – Marguirite Lorenz

In the current San Diego Real Estate Market, where homes are selling before there is even a sign in the yard, it’s crazy to pay full commission in a lot of cases. In some others, it may be warranted based on circumstances. The only way you will know is to bring up the discussion. The sooner in the agent-selection process, the better.

Other topics discussed on today’s 2-hour program:
– People hiring handicap tour guides to skip the lines at Disney World
– New legislation would require colleges to post graduation rates and average starting salaries of previous students in the “Student Know Before You Go Act
– How do you handle a rent increase by your Landlord
– Some home buyers are being TOO creative in an attempt to win a home is this competitive real estate market

Today’s On-Air Guests:
Bekah Stone, Bank Negotiator with the Loss Mitigation NetworkShort Sale Expert
Jon Jerotz, VP of Mortgage Lending at Guaranteed Rate and San Diego Mortgage Expert
Lori Miller, Broker/Owner of First Choice Properties, Inc.
Maria Pena-Morales, San Diego Real Estate Agent with ReMax in Rancho Bernardo

Listen to the 1st hour here: 
Listen to the 2nd hour here: 

Categories: Buying Real Estate, Foreclosure, Loan Modification, Mortgages, Radio Shows, San Diego Real Estate Market, Selling your home, Short Sale, The Life Plan, Trading

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4 replies

  1. I agree! It’s all negotiable. Especially if you have a pretty house that will sell quickly in this market of San Diego.

  2. As they say, Jay… Everything is negotiable!!! 🙂

  3. lol lol good luck ,re agent : ” you have to offer the outher agent 3% or they will not show it ” if they where paid $15 hour thats to much for what lil work they do lot agents in sd are making $200,000 a yr Date: Mon, 20 May 2013 22:52:19 +0000 To:

  4. Well Mike, they still have a lot of work to do in order to sell most homes. I guarantee though, if you have a home to sell in this market, you can get it sold for 2% if it’s a desirable property.

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