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Market conditions impact commissions
Whether they've had to take a cut in their real estate commission percentage rate with the sale of a foreclosed home or saw a decrease in commission dollars per sale due to plummeting prices, many brokers throughout Florida have seen their income drop precipitously with weakened market conditions.
"People are trying to close sales any way they can," said Ellie Trahan, a broker with Golden Rule Real Estate in Ocala. "One of the first things that gets cut is the commission."
With a 25 percent drop in sales activity and an 18 percent drop in the median sales price of single-family homes from 2007 to 2008, Ocala has been one of the hardest-hit areas of the state, according to data released by the Florida Association of Realtors.
To brokers, that means not only a drop in the number of sales they are able to close, but also a drop in the overall level of commissions due to declining home prices. "If you're not making any sales, then 6 percent of nothing is nothing," lamented Trahan.
See full article on Inman News website »
February 19, 2009 in Save on Comission Fees | Permalink
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Comments
I would think that more sellers would be interested in results than empty promises. An agent that lists for 2% and does not sell the home is not exactly what the seller needs. They need a sale, and it can only come with an experienced agent.
Posted by: Prince William Homes | Mar 1, 2009 8:21:11 PM
I find the softer the market the better the commission for experience agents.
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