TOphotog
New Member
I show all listings which fit the buyer's criteria to the buyer (it's all computerized - it spits them all out) - it is my duty to fully inform them of all properties. If my contract with my buyer also states that I am to receive 2.5% for the selling side, the buyer then has to make up any difference between what's being offered and the 2.5% in the contract. How many buyers do you think would want to do that? I show them the listings, but they choose which ones they would like to physically view and possibly negotiate on. None to date have chosen to see the lower commission properties.
On another note: the general public is under the misconception that 2.5/2.5 is off the mark these days. If I can bore you with some stats (current as of 20 minutes ago, not skewed by any other criteria other than area and price range). These stats are only showing the commission being offered to the selling agent, our system doesn't allow me to see how much the listing agent's portion is.
Areas: C01 C02 C03
Price Range:
400-500 9 listings 1 less than 2.5%
500-600 9 listings 1 less than 2.5%
600-700 12 listings 3 less than 2.5%
700-800 11 listings 0 less than 2.5%
800-900 8 listings 0 less than 2.5% 1 at 3.0%
900-1.2M 20 listings 4 less than 2.5%
C01 C02 C03 C04 C05 C06 C07 C08 C09 C10 C11 C12
1M-1.8M 200 listings 4 FSBO - to be negotiated
17 less than 2.5%
169 at 2.5%
10 at 3.0%
1.8-3.0M 132 listings 1 FSBO - to be negotiated
10 less than 2.5%
113 at 2.5%
1 at 2.75%
6 at 3.0%
1 at 4%
3M-14M 115 listings 0 FSBO - to be negotiated
0 less than 2.5%
110 at 2.5%
3 at 3.0%
1 at 3.5%
1 at 4.0%
As you can clearly see, the majority of listings in the central area are at 2.5% and more to the selling agent. Extremely few are selling it themselves through MLS (FSBO), even though that option is available to them. In the $1.8-3.0M range, four of those listings under 2.5% were builders who commonly reduce the rate and want the HST included. In the over $3M range, all are offering 2.5% or more, right up to 4%.
In other words: almost everyone is offering 2.5% or more to the buyer's agent even with all the various commission models available.
On another note: the general public is under the misconception that 2.5/2.5 is off the mark these days. If I can bore you with some stats (current as of 20 minutes ago, not skewed by any other criteria other than area and price range). These stats are only showing the commission being offered to the selling agent, our system doesn't allow me to see how much the listing agent's portion is.
Areas: C01 C02 C03
Price Range:
400-500 9 listings 1 less than 2.5%
500-600 9 listings 1 less than 2.5%
600-700 12 listings 3 less than 2.5%
700-800 11 listings 0 less than 2.5%
800-900 8 listings 0 less than 2.5% 1 at 3.0%
900-1.2M 20 listings 4 less than 2.5%
C01 C02 C03 C04 C05 C06 C07 C08 C09 C10 C11 C12
1M-1.8M 200 listings 4 FSBO - to be negotiated
17 less than 2.5%
169 at 2.5%
10 at 3.0%
1.8-3.0M 132 listings 1 FSBO - to be negotiated
10 less than 2.5%
113 at 2.5%
1 at 2.75%
6 at 3.0%
1 at 4%
3M-14M 115 listings 0 FSBO - to be negotiated
0 less than 2.5%
110 at 2.5%
3 at 3.0%
1 at 3.5%
1 at 4.0%
As you can clearly see, the majority of listings in the central area are at 2.5% and more to the selling agent. Extremely few are selling it themselves through MLS (FSBO), even though that option is available to them. In the $1.8-3.0M range, four of those listings under 2.5% were builders who commonly reduce the rate and want the HST included. In the over $3M range, all are offering 2.5% or more, right up to 4%.
In other words: almost everyone is offering 2.5% or more to the buyer's agent even with all the various commission models available.