From New York Times writer Susan Stellin comes this always sensitive piece today on the 6% commission.
Doug Heddings, who started the Heddings Property Group in 2009 after working at Prudential Douglas Elliman, says commissions “have always been negotiable.” But now that he is an independent broker, he said, he has more freedom to set his fee than when he worked for a large firm.
Still, Mr. Heddings sees the 6 percent commission as justified by the money and time he spends marketing a property. And, he said, he is more likely to cut a deal on his commission during the negotiating process to bridge a gap between the buyer and the seller.
“If we’re $10,000 or $15,000 apart,” he said, “I’ll do what I can with a commission to make sure a deal happens.”
Well that is what I had to say but check out the entire piece for alternatives currently available to sellers.