A Competitive Market Squeezes Fees For Real Estate Agents
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Contributed by: John Michael
John Michael Properties
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By Anna Bahney The New York Times
FRIDAY, MAY 20, 2005
NEW YORK Real estate agents are beginning to hear a rumbling, something that makes them stop cold and stand at full attention: the sound of sellers asking, "Do I have to pay 6 percent?"
In Manhattan, the vast majority of commissions are still 6 percent of the sale price. But some sellers realize that, with agents starved for listings and prices strong, they have the upper hand, not only with buyers, but with brokers as well.
The rates and reasons are different, but the situation is similar in other
See the rest of the story at: http://www.iht.com/articles/2005/05/19/business/reagent.php
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