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Home sellers can try to negotiate real estate commissions

December 7, 2010 - In these tight economic times, that old cliché, "you never know unless you ask" may hold very true for those thinking of relocating and selling their home.

According to an article in the L.A. Times, many home sellers, as well as homebuyers, may not be aware that they can try to negotiate the usual 6 percent real estate commission.

The commission is usually divided between the broker and agent who sold the property in addition to a cut for the buyer's agent and other brokers involved in the sale of the property.

Some agents may be willing to work for a reduced commission, while others may not. The article went on to say that while it may appear to be a buyer's market, for agents it may mean having to work harder to make the sale which doesn’t make reducing their commission all that attractive.

Elizabeth Weintraub, a real estate broker in Sacramento told the newspaper, "You'd be foolish to give part of your salary away. I'm worth what I get paid."

Homeowners looking to cut costs on their sale, listing the property as "for sale by owner" and selling it yourself may save you thousands of dollars. Consider investing a bit of money on home repairs and maintenance to make the home appear more appealing to buyers as well as potentially increasing your profit.

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