Sellers are increasingly frustrated by the unwillingness of realtors to negotiate on commission rates, and they are not shy about naming those who do not play ball.
With more competition in the market place, including online players, and some agents offering deep discounted services, more sellers believe they should not have to pay a high price for an agent's work.
However, agents are fighting back. They say it's time to forget about the commission and concentrate on the sales price.
“I do not think that agents are being unrealistic with their rates, especially if people understood what is involved in the selling process and the work that goes into getting the highest price for that property,” argues Alex Prasoulis, owner of iListRealEstate Brokerage.
With some providers offering rates of two per cent or less, sellers are fighting their corner for greater discounts.
“I can see why some people believe they are being charged too much when they see the rates offered by others,” says Tarik Gidamy, broker of record at TheRedPin. “It’s like anything in life, you get what you pay for. My advice would be not to go for the highest or lowest rate, go for the middle ground.”
Prasoulis advises sellers to become more proactive when discussing the rate with agents, such as asking for a breakdown on expenditure on marketing.
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