Commissions Are Negotiable
When discussing fees, industry members must be honest in advising their clients as to the “typical” or “usual” rates charged in their area. The amount of commission or fee that might be charged is not officially set out by any industry body, therefore they may not indicate these fees are set and/or not negotiable.
Commissions are negotiable. However, wise consumers will know that the cheapest deal is not always the best deal. The old adage of, you get what you pay for, can apply to real estate services too. Therefore, shopping for an agreeable mix of services offered at a fair commission is recommended. Every brokerage will have its own policy on its services and fees and consumers are free to negotiate their own agreement with the brokerage of their choice.
Before entering into a contract, smart consumers will compare the services and fees of a few brokerages by interviewing industry members. The interviews will help the consumer understand what range of commission rates is common in the marketplace and what types of services each brokerage will offer. This will assist consumers in working out a fair arrangement with their brokerage of choice.
Robert W May is a Real Estate Broker in Lethbridge Alberta, having now been in the industry for over 23 years. . He was also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta for the past 10 years. He is an industry leader always willing to help train and educate others in how to improve their business models for financial and personal benefit.