Lower commission real estate agents

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lastmont
Posts: 1
Joined: 04 May 2022 10:56

Lower commission real estate agents

Post by lastmont »

I have a plot which I wish to sell and a couple real estate agents that I contacted asked for the usual 5%+VAT.

I consider 5% too high, especially considering that selling a plot does not require the same effort that selling a house or flat would require, which would necessitate showing around the place to potential buyers and sometimes arranging the visit with the current occupant.

Do you know of any real estate agents asking for only 3%+VAT commission?

Regards,

Christos
Pantheman
Posts: 807
Joined: 26 Jan 2008 14:44
Location: Famagusta District
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Re: Lower commission real estate agents

Post by Pantheman »

lastmont wrote: 04 May 2022 11:27 I have a plot which I wish to sell and a couple real estate agents that I contacted asked for the usual 5%+VAT.

I consider 5% too high, especially considering that selling a plot does not require the same effort that selling a house or flat would require, which would necessitate showing around the place to potential buyers and sometimes arranging the visit with the current occupant.

Do you know of any real estate agents asking for only 3%+VAT commission?

Regards,

Christos
Dear Christo,

I don't know any agent that will sell for less sorry, but your assumption that land is easier is very much wrong. I used to think this and I used to charge the 3% for land, but there is so much more 'running' around for land than for a built house.

When you get a client, you still need to take him there to see it, he may then ask for the boundaries to be identified, meaning you need to arrange a 'topografo', he may wish to know the zoning and what are the characteristics of the plot, where in the past you had to go to the planning office to get, although now it's online, it may require a title deeds and 'topografiko' to get and he will ask assorts of questions about planning.

Showing a house/apt is much easier imo, as everything is there in front of you.

But good luck finding an agent all the same.

Regards
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leojones
Posts: 2
Joined: 01 Jan 2024 09:38

Re: Lower commission real estate agents

Post by leojones »

lastmont wrote: 04 May 2022 11:27 I have a plot which I wish to sell and a couple real estate agents that I contacted asked for the usual 5%+VAT.

I consider 5% too high, especially considering that selling a plot does not require the same effort that selling a house or flat would require, which would necessitate showing around the place to potential buyers and sometimes arranging the visit with the current occupant.

Do you know of any real estate agents asking for only 3%+VAT commission?

Regards,

Christos
Yes, commission rates can vary among real estate agents based on the location, type of property, market conditions, and negotiation skills. While many agents might ask for around 5%+VAT, it's not uncommon for some to negotiate or have lower rates, such as 3%+VAT, especially for specific types of properties like plots. You might need to shop around or negotiate with agents to find a rate that you find reasonable.
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