Realtors commission.

ChristopherPalacios

I'm selling a property in the Philippines which will likely sell for just over 100 million pesos. The realtor states that her commission is 5% and stated that it's not negotiable. First off, I believe everything is negotiable and 5% of the cost is too much considering the fact that the realtor will be doing the same amount of work regardless of the price. My problem is that I'm in New York and have no to little experience in this. The realtor I'm speaking of is working for the buyer. If I threaten to hire my own realtor to represent my interest won't they have to share the commission? If so I can use that as leverage to lower her commission to 3% and not use a realtor to represent me. Of course I'll have my own lawyer. Can I have your opinion regarding this matter?

lomosedo

Hi Christopher. yes, if you hire your realtor they will have to split the commission. true, everything is negotiable. As for the %, it really depends on the scope of work to be rendered, and more importantly, the quality of the service and the overall process experience. You may always hire another realtor to represent your interest if you think there is at the very least risk of compromising a fair outcome. also, at the end of the day, we do business with people who we like. Hope it turns out well for you!