A LendingTree survey found that only 31% of homebuyers or sellers tried to negotiate a lower commission, but 64% were successful.
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A new survey from loan comparison website LendingTree shows that most homebuyers and sellers don’t try to negotiate a lower commission with an agent, but most who do succeed.
Although they have faced some trouble in a recent series of court cases, real estate agents have always said commissions are negotiable and determined by the market.
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loan tree Survey January 17-19 The survey of 2,034 U.S. consumers appears to support at least some support for the National Association of Realtors’ contention that commissions are not set in stone.
A LendingTree survey found that only 31% of homebuyers or sellers tried to negotiate a lower commission, but 64% were successful.
Jacob Channel
“Like most things in life, you won’t know if your real estate agent is willing to lower their commission unless you ask,” LendingTree senior economist Jacob Channel said in comments accompanying the survey.
The result of LendingTree is the same as 2008 Analysis consumer reportsThe survey found that of the 46% of sellers who tried to negotiate a lower commission, 76% were successful.
But only one in five people surveyed by LendingTree believed sellers should pay buyers’ attorney fees — an issue at the heart of multiple antitrust lawsuits across the country that threaten to upend the industry.
LendingTree found that 84% of respondents believe real estate agent fees should be flexible, with this share higher among baby boomers (92%) and six-figure earners (91%).
The good news for those who make a living in real estate is that 64% of Americans surveyed by LendingTree believe a real estate agent is a necessary part of the home-buying process, with only 9% saying they are not needed.
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