BrokerageIndustry News

Slow market drives up commissions in some areas

Part 4: Surviving a real estate downturn

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Editor's note: In this four-part series, Inman News examines the effect of the housing slowdown on everyday real estate business. We've asked brokers and agents what they are doing differently with marketing now that listing times are longer, how they are keeping an edge, and how a slowdown may or may not be impacting commission rates. (Read Part 1, Part 2 and Part 3.) The housing market slows down -- real estate commissions go up. It's a pattern that agents are witnessing in markets across the country. Real estate agents in declining markets are reporting that the compensation offered to agents and brokers representing buyers appears to be on the rise, as listing agents seek to attract more attention to for-sale homes in the face of declining sales and rising inventory "Sellers I'm dealing with are actually eager to pay full commissions to both the listing and the cooperating brokers," said Nate Sumner, an agent and broker for Pacific Union GMAC Real Estate in Marin County, Calif...