Expert: Dick Dennis - 6/14/2006

Question
I am wondering about the commission for an agent when selling
land.  I know that it is between 4 and 7 percent for a home.  Our
agent wants to charge us 10 percent.  Is that reasonable?  

Thanks, Isabel

Answer
Yes, Isabel, land is usually listed at 10%, except when it is priced into the millions. Then the commission is usually negotiated. For that matter, your listing did say your commission is negotiable. If you have a comparatively small parcel of land, then chances are you are not going to lower the commission. Just hope that your agent is going to work on sell it.

Oh, by the way, house commissions are slowly rising because agents are encouraging sellers to pay a higher fee to get agents to inspect and buy their properties. Quite the opposite it was last year and before.

I do wish you well.

Dick Dennis             dixiedee13@aol.com