- Thread starter Danny W
- Start date
broker commission?
A friend of mine who has been here for a year is making 6% on her sales .... in Cabarete by the way.
Stay well,
Amy
Stay well,
Amy
NCR is no longer Remax. Coral Bay is now Remax.Danny W said:
I think it is unreasonable to ask 10% commission when they hardly do any promotion to earn more than they do in the US where there are higher costs.
6-7% is what I consider reasonable unless it is a very low cost condo. I would think 10% is ONLY reasonable when you are selling 25k condos. Same work as when selling a 100k condo.
Escott
We have used Remax and 21 in Santiago and never paid more than 6% to sell and pay nothing, like in the US on buys.
10% ?
10% sounds high. Being in the finance end of the business, I can only guess that since there is no such thing as multiple listings service here, because no one trusts one another here, or for that matter have a conscience when it comes to real estate, I would guess they are doing it to protect their commission as best they can.
10% sounds high. Being in the finance end of the business, I can only guess that since there is no such thing as multiple listings service here, because no one trusts one another here, or for that matter have a conscience when it comes to real estate, I would guess they are doing it to protect their commission as best they can.
No MLS, but insider knowledge maybe
MLS does not even exist in Spain... imagine the DR. But I would expect a broker or agent to know of most things that are being dealt around.
Comission splitting is not uncomon in most places where there are brokers. But I can't say about the DR.
.. J-D.
JRR said:
MLS does not even exist in Spain... imagine the DR. But I would expect a broker or agent to know of most things that are being dealt around.
Comission splitting is not uncomon in most places where there are brokers. But I can't say about the DR.
.. J-D.
10% is the standard commission that both agencies will ask for on their agreements. (Selling is a lot harder than it looks.) It is also the amount they will want from the seller if you actually make a sale at the price you want.
The way to handle a reduction in commissions is to give them a firm bottom line number you want for the property (write it in on the agreement with the word "FIRM"). If the buyer's offer and commission cause you to get less, you have every right to negotiate with BOTH, but be prepared to walk away from the offer.
The way to handle a reduction in commissions is to give them a firm bottom line number you want for the property (write it in on the agreement with the word "FIRM"). If the buyer's offer and commission cause you to get less, you have every right to negotiate with BOTH, but be prepared to walk away from the offer.
All this does is raise the final price. 10% is outrageous to ask on a property that is 100k or more. There is basically NO advertising budget here. People that ask 10% on a 100k plus property are pigs in my opinion. I would NEVER list or buy from a company that doesn't negotiate off of 10% in the DR.philbrick03 said:
Again, this is for Santiago
6% is more like it.
We are going to put the Hovel up for sale over the next few months and we will probably pay 5% on the final deal. At least that is what my son says we'll pay. It's still a schittfull pile of money...:ermm:
I totally agree that 10% is way too much. D@mn, that's two for two with Escott today!!
HB
6% is more like it.
We are going to put the Hovel up for sale over the next few months and we will probably pay 5% on the final deal. At least that is what my son says we'll pay. It's still a schittfull pile of money...:ermm:
I totally agree that 10% is way too much. D@mn, that's two for two with Escott today!!
HB