CBGundaker rate is 6% to 7%
I am one of
the Top 10 Listing agents in my market area. From 2015 to 2020
I've taken 122 Listings - only 10 did not sell. Ask a competing agent for their track record. My marketing strategy gets my listings sold.
Minimum commission is $3500 for homes under $50,000
For properties over $500,000 -- 5.5% or 5%
Commissions are negotiable.
I'll be happy to discuss commission upon seeing your property.
Reduced commissions always offered on higher priced homes.
Choosing a Realtor
who charges the lowest commission does NOT
necessarily net you more money. Having sold over 1200 homes has made me a skilled
negotiator. A discount broker may offer you savings on commission. But the savings can be easily be lost during poor negotiations of offers with buyers.
Also consider this. Should you agree to make repairs requested from a buyer's home inspection, I have a large list of skilled and reasonable repair contractors that may save
you a few hundred dollars. One seller had gotten a bid for a new roof that I thought was high. I call my roofer (A&M Roofing) whose bid was $1200 lower!
Here are commission rates typically paid by sellers I represent:
7% for properties under $130,000
6.5% for $130,000 to $190,000
6% * for over $190,000
5% * allowed at $500,000+ *CBG charges $350 additional commission for listings taken at 6% or lower.
Commission Savings - Below shows that on lower priced
homes, a commission reduction does not provide significant savings. As does many other brokers, CBGundaker charges an additional $350 for listings at 6% or lower. Below shows savings at 1/2% and 1% reduction from our full commission of 7%. Examples take into
account the $350 for 6% and lower rates:
From 7% to 6.5% From 7% to 6% + $350
$75,000 sale price......... $375 less $400 less, only $25 less than 6.5%
$100,000 sale price....... $500 less $650 less, only $150 less than 6.5%
$125,000 sale price....... $625 less $900 less, only $275 less than 6.5%
$200,000 sale price....... $1000 less $1650 less
$150,000 sale price....... $750 less $1150 less
$180,000 sale price....... $900 less $1450 less
$250,000 sale price....... $1250 less $2150 less
$300,000 sale price....... $1500 less $2650 less
$400,000 sale price....... $2000 less $3650 less
7% to 5.5% + $350 7% to 5%+ $350
$500,000 sale price....... $7150 less $9650 less
$750,000 sale price..... $10900 less $14650 less
Offers will be closer to list price when they're received within the first few weeks. Offering a competitive or better buyer commission is a marketing strategy as this motivates buyer agents. Initial numerous showings often gets a property sold quicker and with higher offers made. If not selling, a typical price reduction is $3000 to $5000. The discount broker offering $350 to $800 savings often ends up netting you much less if property is not marketed properly. I suggest starting at a competitive commission to get offers before having to consider price reductions.
BUYER PAYOUT: CBGundaker follows the traditional payout to your buyer's agent, which is 45% of the total commission: 7% = 3.15% 6.5% = 2.925% 6% = 2.7%
commission payout to the buyer side of the transaction. CBGundaker's
Listing Agreement states in writing the payout that will be advertised
to buyer agents. Beware of a competing Realtor that takes your Listing
at 7% or 6.5% and only offers the buyer's agent a 2.7% payout. This
practice increases the commission your listing agent gets while you lose
the benefit that a better buyer agent payout provides. If interviewing
with a competing company, be sure to ask what their advertised buyer
payout will be.
Based on research
conducted by the National Association of Realtors and published
in the New York Times on Jan 5, 2005, using a Realtor nets you 16% higher
than selling By Owner. So hiring a Realtor for 6% to 7% is a
investment. A Realtor with a large company utilizing their
advertising dollars and resources, will get your home market exposure a
hundred-fold more that what you could do on your own, thus resulting in a
quicker sale. Realtors provide an important service to the community.
Consider a seller transferring out of state who has a $1200 payment on
their current home. If a
Realtor sold the home 4 months sooner than the by-owner, $4800 in
payments would be saved for the transferee who had already moved out of
Selling your home using a Realtor nets you 16% higher than selling For Sale By Owner.