Generally under $100,000 is 7% for a multiple listing that goes out to all other realtors and 6% for an exclusive listing. It is negotiable though. Interview a few realtors instead of just going with the first one and MAKE SURE to get what you negotiated in writing. Realtors in general have a reputation similar to lawyers. There's some real good ones but a lot of bad ones.
I had bad experiences with 2 realtors who were supposed to be really good. The first one said she would multiple list my properties for 6%. The total price for both properties was a little over $100,000. When I got a copy of the real estate weekly that's in the newspaper, my properties weren't listed. I asked the realtor and she said that's only for multiple listings. I said I went with her because she was going to multiple list for 1% less than another realtor I liked. Then she tells me the agency she works for has a policy of not multiple listing for less than 7% and she was trying to save me money. What a LIAR! She told me 6% so I would go with her. I should have recorded the first meeeting. The realtor I went with the next time wasn't much better. She said she'd take back up offers because it was a prime location. When there was a big problem with the first potential buyer and I could have backed out, I asked about back up offers and she said she didn't think she needed any. There was at least 6 other people/realtors very interested in the property. I eneded up selling to the first offer but made the realtor take $1500 off her commission. If there would have been back up offers I could have made more money. The buyers were late with the down payment so I had every right to cancel the deal and I would have if there had been back up offers. Number 1 rule, don't trust realtors! Also, NEVER EVER let the your realtor act on behalf of the buyer, NEVER! They won't have YOUR best interests in mind. They'll want to get a sale and try to convince you to sell at a lower price while telling the buyer not to offer more because you're motivated. Also best to not use the same lawyer. I had 1 lot sell with the same lawyer but it was a real straight forward deal and the buyer and myself just needed the official paper work done to complete the deal.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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