Real Estate Commission rates

retiree

Bronze
Jan 18, 2008
978
10
0
A friend wanted to know what the going real estate commission rates are these days on the north coast. On dr1 I could only find a thread from several years ago. He told me that what he heard was that there is a big range. So I said I would post a thread to see if there are some answers.
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
there is no gauge for this , as far as I know..

use your common sense.... stick to values in your home country
don't get talked up.

10% is thrown around..... NO!!!
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
or - you can agree to anything and then adjust it with the final offer....

Offer needs to improve by 5%..... from the buyer or from you (realtor)
I want $210,000 from this $220,000 offer..... or get me more.

You see that all the time in commercial real estate.... on big deals where the commission can HUGE.

The difference needs to come from somewhere and the realtor gets called to the table frequently.

Only you can accept an offer.....and that's when you can dictate the commission
 

LTSteve

Gold
Jul 9, 2010
5,449
23
38
A friend wanted to know what the going real estate commission rates are these days on the north coast. On dr1 I could only find a thread from several years ago. He told me that what he heard was that there is a big range. So I said I would post a thread to see if there are some answers.

The real estate industry in the DR is unregulated. There are no qualifications, no license and no ethics laws. The commission rate is negotiable. When I sold my condo a few years ago I paid 7%. You will have to sign a document that binds you to a rate so shop around. For what most of the realtors do in the DR 10% is outrageous. The other thing you can do is offer a higher commission rate if the property is sold in the first 6 months with a sliding scale downwards. This may give the realtor in the DR more incentive. Of course, just like in North America the sellers pays the realtor and not the buyer.