# finding a va realtor for 5%



## nancy237 (May 29, 2008)

How would I find out if any realtors near Farmville Va would list my 40 acres of raw land for 5% commision. It seems they often get to be buying & selling 
realtor which should help their bottom line.


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## ChristieAcres (Apr 11, 2009)

nancy237 said:


> How would I find out if any realtors near Farmville Va would list my 40 acres of raw land for 5% commision. It seems they often get to be buying & selling
> realtor which should help their bottom line.


I'd speak to anyone you trust who lives near or in Farmville VA, get a referral and then negotiate a 5% commission. In most places, raw land pays a higher commission. Sorry, I am not there, as I am a Managing Broker who negotiates with my Clients, doesn't just set a commission, and believes it should always be that way. It would also be wise to find out what most commissions are paying to Buyer's Agents in that area. That helps to set that side of the %. It is always better to be competitive on the Buyers Agent side. Where I am, there are few Dual Agencies where the Realtor represents both sides.


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## nancy237 (May 29, 2008)

Thanks..Lorichristie


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## ChristieAcres (Apr 11, 2009)

nancy237 said:


> Thanks..Lorichristie


Your welcome & hope you sell that property soon!


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## rickfrosty (Jun 19, 2008)

nancy237 said:


> How would I find out if any realtors near Farmville Va would list my 40 acres of raw land for 5% commision. It seems they often get to be buying & selling
> realtor which should help their bottom line.


What she said (Lorichristie) - I'm a broker too & land rates are generally higher than for houses, but the thing to think of is you want to get this sold & the agents & brokers all can see what commission you are paying, so will they promote property which will pay them less ??


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## bill not in oh (Jul 27, 2004)

rickfrosty said:


> but the thing to think of is you want to get this sold & the agents & brokers all can see what commission you are paying, so will they promote property which will pay them less ??


I'm not a broker or agent, but that's what I was going to say....


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## Evons hubby (Oct 3, 2005)

Pay the man his due. If most of the brokers in your area are charging more than 5 percent.. theres probably a pretty good reason. I cant imagine 5 percenters being out there anymore.. but check around and see what the rates are.... then sign on with a company that has a habit of getting the job done. You could list for 2 percent... but if they dont sell the property..... where does that leave you? Better to pay the man and get the job done.


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## CocalicoSprings (Mar 12, 2008)

Raise the price of the property you want to sell by 2%. 
Tell the agent you will pay 7% commission.
Watch the activity increase....more showings....
reason: brokers will work hard for an extra 2%...to them it is 33% more income if they sell your house.
Example: your house is listed for $200,000 a 5% commission is split between the listing agent and the selling agent. They each get 2 /1/2% ( of course they're firm gets a cut of that and the real estate agent gets the rest)
By increasing the price to $204,000 it will cost you nothing and the agents will trip over themselves trying to sell your house. Not just at the listing firm but all the other agents in the area too.


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## ChristieAcres (Apr 11, 2009)

CocalicoSprings said:


> Raise the price of the property you want to sell by 2%.
> Tell the agent you will pay 7% commission.
> Watch the activity increase....more showings....
> reason: brokers will work hard for an extra 2%...to them it is 33% more income if they sell your house.
> ...


It is correct that if you pay a higher % to the Selling Agent, it will attract more showings and likely sell faster. By increasing the price, you may or may not sell the property faster (would have to be within market value for that area...otherwise being an incredibly desirable property worth extra $). What I put in bold? That is incorrect. A Real Estate Commission is negotiated directly with the Listing Agent, and *the Seller has the right to set the Selling Agent's commission*. It is not a "given" that it is split 50/50. I have listed properties and took 1% less on my side, while giving the Selling Agent/Broker side 1% more, and have even recommended this.

In my area, most Land Commissions are 10% or close to. Here, 7% would be considered low. I just listed Vacant Land for 8%, Seller set the Sales Agent/Broker Commission at 4%. This was after I researched that area to see what most of the Listings were offering (4% was fine). You don't want your listing to pay the least Sales %! Also, I offer another "deal" for my Clients. They get to save 1% right off the top if I represent both Buyer & Seller. That can be something that is also negotiated with a Listing Agent.


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