7 ms·

Wow, in the UK it is about 1 - 2%.

lowercased 8y ago
Came here to say the same thing. My wife is from UK, and she's ... well, pissed at the expenses here (besides healthcare). We are in the process of selling some land, and the default for land is 8%. WTF. You don't "show" it. You don't stage it, or model it, or deal with keys or codes or anything else. But there were no realtors we spoke to who wavered from 8%. I suppose we could possibly have done DIY, maybe... ? But... 8% for land is just insane. The justification was "oh, it takes longer to sell". Again - you're not doing anything beyond perhaps taking a phone call or email. Granted, there may be exceptional properties that are hundreds of acres, have to deal with wildlife issues or other zoning whatever, and might have a whole lot of headache. Not a 1acre homesite in a subdivision.
- HumanDrivenDev 8y ago
  If you think 8% is insane, then sell it yourself.
- ajr0 8y ago
  I recently sold a home through redfin and was able to negotiate down to 3% total (2 for buyer 1 for seller) if you have the time have you attempted hosting/selling yourself? I know it sounds ridiculous at mentioning but I purchased my current home without any real estate agents, we did work through lawyers and there were fees there... but likely minimal (I paid under $1500) and I actually enjoyed working directly with lawyers rather than having real estate agents inbetween, this would be my prefered method if I were to sell/purchase again.
- pxeboot 8y ago
  That much have been for relatively expensive land. I have seen 10% commissions for land under $50k
  - lowercased 8y ago
    No (under $100k). Based in NC, and the 'standard' here seems to be 8% (couldn't find anyone under 8%).
- Gibbon1 8y ago
  I'd just get to know your local title company and list it as for sale by owner on the various real-estate sites. In the US the title company does _all_ the actual work in a sale. And takes _all_ the liability. Everyone else is a middle man.
- lotsofpulp 8y ago
  The justification is that you did end up paying 8% instead of doing it yourself, so it was worth 8%.
gamechangr 8y ago
What would a commission pay in USD? Or 1-2% of what price? I'm guessing it might be very similar in actual dollars, as there are a number of cities in the US where you can buy a house for $150,000. 3% would be $4,500 USD for a real estate commission. Then the broker would keep a good part. The agent might get $3,000 of it.

Came here to say the same thing. My wife is from UK, and she's ... well, pissed at the expenses here (besides healthcare). We are in the process of selling some land, and the default for land is 8%. WTF. You don't "show" it. You don't stage it, or model it, or deal with keys or codes or anything else. But there were no realtors we spoke to who wavered from 8%. I suppose we could possibly have done DIY, maybe... ? But... 8% for land is just insane. The justification was "oh, it takes longer to sell". Again - you're not doing anything beyond perhaps taking a phone call or email. Granted, there may be exceptional properties that are hundreds of acres, have to deal with wildlife issues or other zoning whatever, and might have a whole lot of headache. Not a 1acre homesite in a subdivision.

HumanDrivenDev 8y ago
If you think 8% is insane, then sell it yourself.
ajr0 8y ago
I recently sold a home through redfin and was able to negotiate down to 3% total (2 for buyer 1 for seller) if you have the time have you attempted hosting/selling yourself? I know it sounds ridiculous at mentioning but I purchased my current home without any real estate agents, we did work through lawyers and there were fees there... but likely minimal (I paid under $1500) and I actually enjoyed working directly with lawyers rather than having real estate agents inbetween, this would be my prefered method if I were to sell/purchase again.
pxeboot 8y ago
That much have been for relatively expensive land. I have seen 10% commissions for land under $50k
- lowercased 8y ago
  No (under $100k). Based in NC, and the 'standard' here seems to be 8% (couldn't find anyone under 8%).
Gibbon1 8y ago
I'd just get to know your local title company and list it as for sale by owner on the various real-estate sites. In the US the title company does _all_ the actual work in a sale. And takes _all_ the liability. Everyone else is a middle man.
lotsofpulp 8y ago
The justification is that you did end up paying 8% instead of doing it yourself, so it was worth 8%.

gamechangr 8y ago

What would a commission pay in USD? Or 1-2% of what price? I'm guessing it might be very similar in actual dollars, as there are a number of cities in the US where you can buy a house for $150,000. 3% would be $4,500 USD for a real estate commission. Then the broker would keep a good part. The agent might get $3,000 of it.