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Just found out my agent's fee was way higher than normal
I was looking through my closing paperwork from last month and noticed my real estate agent's commission was 6%. I asked a buddy who just bought a house in Austin and he said his was only 4.5%. Started digging around on the FTC website and found out there's actually no set rate for commissions and you can negotiate them. I found a study from 2023 that said most buyers don't even realize they can ask for a lower fee until after they sign. Has anyone here successfully talked their agent down on the commission rate before?
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felix_hayes6415d ago
Hang on though, that study you mentioned from 2023 - most buyers actually don't realize they can negotiate at all, not just until after they sign. I've seen a few local agent contracts here in Denver that had the 6% rate printed right there and people just signed without a word. You're right about the FTC stuff though, there's no rule saying you have to pay it. I talked to a guy last month who got his realtor to drop from 6% to 5% just by saying he'd walk if they didn't match the other agent he was looking at.
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