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Lee
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Location: High in the Colorado Rockies
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Quote: Originally posted by DianaT  | | Quote: Originally posted by monoloco | | Quote: Originally posted by cabobaja | Mono, do not feel you know what you are speaking of.
Todos Santos MLS commissions:
Up to $150,000 10%
$150,001-$300,000 9%
$300,001-$600,000 8%
$600,001-$2,000,000 7%
Over $2,000,000 6% |
But basically the rates are non-negociable if a realtor is in the MLS. Correct?
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Some Realtors in the states will try and tell you that and it is garbage. They would all like you to think it is etched in stone.
BTW-- I was a Realtor in one of my past lives.
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Not sure if the references here are NOB or SOB. NOB, any agent implying, hinting or suggesting that commission fees are anything but negotiable
would be putting their license on the line. Off the record, agents might admit to ''going'' fees. In my former office, percentages were
''standard'' and a Listing would, generally, be turned down if a Seller was firm in a lower fee.
SOB anything goes and if every agent in Todos agrees to fix fees at a certain percentage, it's perfectly legal.
NOB 7% was the going rate for residential back when. That was sometimes negotiated to 6% but never lower (generally and in the offices I worked
in). Land was 10%. Agents I knew never took a Listing for less than 6%.
I too was a Realtor, once, and a Broker/Owner.
US Marines: providing enemies of America an opportunity to die for their country since 1775.
What I say before any important decision.
F*ck it.
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Gaucho
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Mood: Bohemia por favor...
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Sellers are WAY too focused on the 10% fee rather than the 90% they will be netting. Once you have agreed upon a fair commission let it go and save
the negotiating for the sales transaction itself. You will double or triple what you would have "lost" paying a higher fee to the listing agent.
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gnukid
Ultra Nomad
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It IS reasonable to pay attention to details-from commission, all taxes, notario interpretations of your cap gain tax due, fees etc... Agents have no
reason to work for your benefit and every reason to work for their own benefit. They also have no incentive to be reliable, prompt because they aren't
being paid based on performance detail. The only one who is concerned about the cost vs performance is the buyer. Worse there is no standard, no
training, no testing of the "agency" role.
Take time to get a breakdown well in advance of contract of expected costs then validate and work these costs down, go meet notarios about cap gain
settlement and build a relationship with a notorio who is educated and communicative, and willing to make an effort to show you they know what they
are doing, they need to know you, and be willing to work for you, then you specify the notario along with the buyer, not the agency.
Be realistic, incompetency, unreliability, and corruption is as common as not. They have no reason to have your best interests so it is up to you to
manage your interests-as you would anywhere else in your life. It's your money.
[Edited on 4-12-2015 by gnukid]
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J.P.
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Listing%
The listing % can be confusing to the average buyer there is a whole lot of real estate sold where the selling agent gets only 1.5 %
The only time someone gets the full commission is when the listing Broker sells his own listing.
The secret of the trade is getting listings. Someone will sell it.
and I agree listing fees are pretty much a wash. You sell You Pay. You buy seller Pays.
And contrary to popular belief when you are the buyer the agent is not working For You. he is employed by the SELLER.
[Edited on 4-12-2015 by J.P.]
[Edited on 4-12-2015 by J.P.]
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bajafreaks
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Thanks everyone for all of the input. I don't have a problem paying 10% especially if I get good results. I just need to figure out what is the best
plan to ultimately having a home in Baja.
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MitchMan
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Can a knowledgeable/experienced Mexican accountant or attorney reliably handle the details of the sales transaction and leave all of the marketing up
to the seller? That way there is no commission, only fees to a trained educated professional instead of a commission to an uneducated, unlicensed,
unregulated, unlicensed, self-dealing real estate agent?
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wessongroup
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Dittos MitchMan ... 
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gnukid
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+ mitchman
adding a so called non-agent in the mix is just a delay and a added cost
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