What percentage can I expect to give up on a sale of my house if I use a realtor and the buyer uses a realtor?

Question

I am looking to sell my house without a realtor and I want to know how much approx I will be saving?

Answer 1

The standard commission is 7% split between the two realtors.

If you skip your realtor that will mean an extra 3-1/2% for you in sales price that you don't have to fork over.

However, you'd better make sure you have a perfect transaction or it will be a headache you'd rather not have.

Answer 2

You don't state where you live.  Costs vary in different states, such as California, the standard commission is 5-6%, not 7% like say Minnesota.

If you don't want to use a listing Realtor, your chances go down for a quick sale.  Most for sale by owners list way too high, and by doing that, there is no value there for a buyer to want to take their chances  of many things going wrong (inspections, contract issues, deadlines, repairs, Home warranty, etc)  You could negotiate with a good listing Realtor to cut the commission by a certain percentage if he or she secures the buyer.  Also, if you are buying your next home in the same area and like your Realtor enough to use them to find you a home, you can also negotiate a lower listing commission if the agent has 2 sales (remember, you don't pay commission as a buyer)

Answer 3

Not much.  Often they will split the commission, and not save you anything.  Ask them how it works and pay close attention when they stutter about not saving you cash.

Answer 4

6-7%