HUGE step for the B$ travelers. We just listed our condo on the market. When researching to find a realtor who’d offer us the lowest commission rates, I stumbled across hungryagents.com.Typically agents for buyers and sellers each take a commission of roughly 2.5% to 3%, for a total cost of 5% to 6%, paid out of the seller’s proceeds. But as agents compete with discount brokers and flat-fee services, some are becoming more amenable to reducing their cut to 2% or less.
The realtor we ended up working with was Charna Osmundson with Oz Realty. Charna was able to offer us a commission rate of 3.75%! Charna provides the buyer’s realtor with a commission of 2.50% and she receives the remaining 1.25%.
Visit Hungry Agents to find out the specific details to how it works, but essentially, you create a profile and a handful of realtors will submit their commission rates (or bids) through the site. The next step is for you to decide on which realtors may contact you. This control in the process prevents hundreds of realtors from calling you up and selling their services.
Overall, we’re very happy with our decision to use Hungry Agents. It should end up saving us approximately $2,500 on commission fees to sell our place.