What is the rate realtors charge?

Question

What is the rate realtors charge for selling a condo in Oak Brook, IL????

Answer 1

The customary fee for real estate brokers is 6% of the sales price.  The sales price is the price the property actually sells for.

Answer 2

Like the first poster said, 6% is customary. This is split 50/50 between the selling and buying agents (the seller pays the commission). But, you can sometimes negotiate this with the agents. There was a company in San Diego during the real estate boom called I Pay One. They charged only 1% commission on the buyer's and and on the seller's end. And, with the way prices were around here a few years ago, they would still make a good commission at that rate.