Honestly I almost never ever see a buyer agent comp under 2.5% unless maybe it's $2M+ the people get stingy and try to go with 2 or 2.25%.
In my area $300-500k is the average sales price depending on county and lately a lot of <$175k properties listed with 2% buyer comps have been popping up? What are these agents stupid? You think anyone is going to help you sell your <$175k property at 2%?
Don't be a fool and if you have to list it at under 5% you take the hit on whatever it was under 5% on the listing side or we ain't going to help you.
John, I'm sure a lot of agents who need to feed their families will come up with something to keep their buyers from buying the house. Offering a low buyer comp is doing a disservice to the seller. We always split it 50/50.
Hi Dave, I don't disagree other then I work with some investors and have handled a few auction properties. I'm currently waiting to close a Hudson & Marshall property with a 1.5% commission. It's not common in MN to do a 50/50 split. It's usually 2.7 to the buyer's rep and 2.8-3.3 to the listing agent. (2.7% is or brokerage minimum).
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