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Real Estate commission....is it negotiable?

Real Estate commission....is it negotiable?

Old Apr 5th 2008, 5:08 pm
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Default Re: Real Estate commission....is it negotiable?

Hi Old Bag, I don't usually venture into this forum, but hoping I may be of help to you . We put our house on the market last year (you can see further details in a thread I've just replied to in the MBUK forum). We contacted several agents, for a valuation and commission rates. Some agents will negotiate, others will not, maybe it depends on their broker I'm not sure.
Anyhows we agreed to list with a realtor for 4%. Funny enough the farm next to us listed with the same company for 5 % . One firm did state they were open to negotiation, but we decided against going with them at that point in time. This may change next time we list however. When we sold our last property we sold for 2 1/2 % commission I note that there are only 2 realtors in your home town (your not that incredibly far from us...well by Canadian distances ). Have you thought about listing with an agent a little further afield, but one who can still technically cover your area. Worth a thought, as IMHO most properties are sold through the MLS anyhow. Most realtors will tell you this. I'd shop around for the price of a few telephone calls. Best of Luck
I've just noted the last but one reply (shameful) . There are some rubbish realtors out there :curse: If you want any more details please P.M. me.
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Old Apr 5th 2008, 5:27 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
Vicarious liability
Contract Law
Competition Act
Nova Scitia Real Estate Commission By-laws
Real Estate Trading Act

Look them up! That's why I'll never list below 6%.

Also the agent who brings the buyer spilts the commission = 3%
Then the broker gets half = 1.5%

Stop being an old bag and think yourself lucky you have someone who has to "protect and promote the clients interest above all except the law" or lose their license!
This is a particularly caustic post, especially in the light of this other recent quote from yourself .... "Realtors charge up to whopping 6% commission for a Sale in Nova Scotia that is shared between the company representing the seller and the company representing the buyer"

You are a "Johnny come lately" to the real estate business in Canada, and one thing you might learn is to be respectful and helpful to potential customers. Be nice.
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Old Apr 5th 2008, 5:28 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Sunshine Girl View Post
Hi Old Bag, I don't usually venture into this forum, but hoping I may be of help to you . We put our house on the market last year (you can see further details in a thread I've just replied to in the MBUK forum). We contacted several agents, for a valuation and commission rates. Some agents will negotiate, others will not, maybe it depends on their broker I'm not sure.
Anyhows we agreed to list with a realtor for 4%. Funny enough the farm next to us listed with the same company for 5 % . One firm did state they were open to negotiation, but we decided against going with them at that point in time. This may change next time we list however. When we sold our last property we sold for 2 1/2 % commission I note that there are only 2 realtors in your home town (your not that incredibly far from us...well by Canadian distances ). Have you thought about listing with an agent a little further afield, but one who can still technically cover your area. Worth a thought, as IMHO most properties are sold through the MLS anyhow. Most realtors will tell you this. I'd shop around for the price of a few telephone calls. Best of Luck
I've just noted the last but one reply (shameful) . There are some rubbish realtors out there :curse: If you want any more details please P.M. me.
There are some with a sense of humour though!
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Old Apr 5th 2008, 5:29 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Morwenna View Post
This is a particularly caustic post, especially in the light of this other recent quote from yourself .... "Realtors charge up to whopping 6% commission for a Sale in Nova Scotia that is shared between the company representing the seller and the company representing the buyer"

You are a "Johnny come lately" to the real estate business in Canada, and one thing you might learn is to be respectful and helpful to potential customers. Be nice.
That was before I found out what we do to earn it.............now I know, so learn.
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Old Apr 5th 2008, 5:31 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
There are some with a sense of humour though!
There's a phrase that " Patriotism is the last refuge of a scoundrel ". Similarly, to profess a joke or humour after a very poor post is the last refuge of someone caught in a headlight.
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Old Apr 5th 2008, 5:35 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Tangram View Post
There's a phrase that " Patriotism is the last refuge of a scoundrel ". Similarly, to profess a joke or humour after a very poor post is the last refuge of someone caught in a headlight.
Also he who laughs last laughs longest.

And if you read the post it is pointing out to look at the competition act, NSREC by laws, real estate trading act, contrcat law etc - that is where the answer lies as to why realtors will not negotiate to english sit behind a desk with feet up rates.
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Old Apr 5th 2008, 5:37 pm
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Default Re: Real Estate commission....is it negotiable?

Is that ok NSPaul?!
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Old Apr 5th 2008, 5:37 pm
  #23  
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Default Re: Real Estate commission....is it negotiable?

Back to work now
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Old Apr 5th 2008, 5:49 pm
  #24  
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
That was before I found out what we do to earn it.............now I know, so learn.
It wasn't the explanation per se that was objectionable, just the (humorous??) abuse that went with it.

It is, in fact, interesting to know the justification behind the fee.
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Old Apr 5th 2008, 6:00 pm
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Default Re: Real Estate commission....is it negotiable?

ontheboatout
I have met with a few realtors during the time we have been planning to move to NS. Some of those realtors had a better grasp of my requirements than others, but, without exception, they were all polite and helpful.

I have even met on or two realtors in NS on a more casual basis and have always found them to be polite and respectful.

The fact that they are probably nice people aside, they are also being astute from a business point of view. Word gets around in NS, networking is so important.

I can't imagine that you are going to do your business much good by being antagonistic to people having a perfectly reasonable discussion and pointedly rude to someone not even involved in the conversation.

I know that you and I haven't always agreed in the past, but I was always of the impression that you would be an astute businessman. Apparently I was wrong.
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Old Apr 5th 2008, 6:05 pm
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Default Re: Real Estate commission....is it negotiable?

What a lovely house you have bought and such a great deal.
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Old Apr 5th 2008, 6:06 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Morwenna View Post
It wasn't the explanation per se that was objectionable, just the (humorous??) abuse that went with it.

It is, in fact, interesting to know the justification behind the fee.
What abuse - the username is "old bag"!
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Old Apr 5th 2008, 6:12 pm
  #28  
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Default Re: Real Estate commission....is it negotiable?

As a supplementary, is a discount for selling likely if one uses the same agent for buying an alternative property?
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Old Apr 5th 2008, 6:16 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by BristolUK View Post
As a supplementary, is a discount for selling likely if one uses the same agent for buying an alternative property?
Yes definitely - if someone sells and buys they should get a lower rate.
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Old Apr 5th 2008, 6:34 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
Vicarious liability
Contract Law
Competition Act
Nova Scitia Real Estate Commission By-laws
Real Estate Trading Act

Look them up! That's why I'll never list below 6%.

Also the agent who brings the buyer spilts the commission = 3%
Then the broker gets half = 1.5%

Stop being an old bag and think yourself lucky you have someone who has to "protect and promote the clients interest above all except the law" or lose their license!
Well thank you! I'm sorry but what happens to the commission once I've paid it is totally irrelevant........that's entirely up to the agent(s) involved. As for Nova Scotia laws - they only apply in Nova Scotia don't they? I live in Ontario, but you probably wouldn't know that.
As for your last sentence, I wish the agent who sold us this house in the first place had adhered to that; she wasn't concerned about anyone's interest but her own, which is why I'm reluctant to put my business her way.

I may, or may not come back to you when I've done as you so kindly suggest and "looked 'em up"!
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