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Brokers asking for 2 percent commission
Posted: May 4th, 2011, 2:17 pm
by prashet
I've recently come across several brokers who demand 2% commission. I've clearly told them that I wouldn't do that and avoid any brokers who ask for more than 1%. What do you think? Would a broker who takes 2percent would be twice as much effective as one who takes 1 percent?
Re: Brokers asking for 2 percent commission
Posted: May 4th, 2011, 3:33 pm
by anandchida
Never encourage brokers asking for 2% comission. Even the 1% is negotiable. Just set the terms BEFORE you start working with him. Make sure the rate that you negotiated is communicated to all the brokers along the way.
Anand
Re: Brokers asking for 2 percent commission
Posted: May 4th, 2011, 6:15 pm
by ardesarchitects
Hi,
2% of commission is too high,they generally demand 1% and negotiable .Some demanding 2% of 1% all of them take no responsibility when you need then to.
80% brokers just work for money and they just need money no matter what value addition he can give.
In my observation brokers with brokerage as second job are more honest than person doing only brokerage works.There are many people having jobs (lower level)and do real estate brokerage jobs
Regards
Ar.Praveen.N
Ardes Architects and Interior Designers
ardesarchitects@gmail.com
Re: Brokers asking for 2 percent commission
Posted: August 6th, 2011, 3:57 pm
by harishlr
High end brokerage houses charge for 2% from sellers and 1% from buyers (slightly negotiable). However they add value in terms of making the complete transaction. They give the professional land record checks, arrange for loan from a bdsest bank, suggestions, arrange for registration etc. All that you need to do is to agree for the deal, get the land records double check by your lawyer and just go for a registration and sign. By just showing the property and introducing owner, we should not give not more than 0.25% in my opinion.
Regar