My home sellers seem to always know how much the average real estate agent charges. They have information that I don’t have. I can figure out what the average payout to a buyer’s agent is by looking in the MLS but it doesn’t show how much the sellers agent charged.
Real estate agents are not allowed to discuss commissions with agents from other brokerages. Brokers are not allowed to discuss commissions amongst themselves. It is actually illegal. Anything that could lead to price fixing among brokers is illegal.
I have not decided if I want to be a discount broker but admit I am curious as to what the going rate is these days and how my clients have the information when I don’t. What if I am already charging less and am a discount broker and don’t even know it? What if I am charging too much and my clients don’t know it?
I have on occasion offered a 10% discount if you list your home with me in the month of _________. So far no one has taken me up on it which is a good thing because I am not sure what % or fee I need to charge that I can deduct 10% from and still make out like a bandit.