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Joined: Sep 2000
Posts: 713
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What is the typical real estate commission in San Pedro? 6%? More? Less? Negotiable? Whatever the traffic will bear? Do buyers agents and seller's agents (or FSBO's who "cooperate with brokers") split commissions like they do in the US? I'd be interested in seeing this info posted by realtors, buyers and sellers.
Susan Guberman-Garcia, Attorney at Law. Phone: 510-792-2639 Fax/Voicemail:: 510-405-2016 Email: [email protected]
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Joined: Nov 2000
Posts: 2,976
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I think that it is 5% and yes some will give you a referal fee if that person looking gave your name before the they started looking with that certain person or company. Rick
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Joined: Apr 2000
Posts: 498
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What say you Jesse or Amanda? They are the most accurate on this because they know the business and are professionals.
Jim
**Jim
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Joined: Sep 2001
Posts: 502
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Susan, i hear tell that it's 10 percent... and it could be nogotiable.
MR
Love is a many splendid thing and food runs a close second.
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Joined: Nov 2000
Posts: 6,251
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Susangg, I tend to think that Mosquito Rose has credibility on that subject. I asked about it, not necessarily on SP, but mainland and that seems to be the percentage spoken.
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Joined: Oct 2000
Posts: 20
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It was 10% when i lived on San Pedro. Susan should know that as she used to date one of the realtors there!
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Joined: Sep 2000
Posts: 713
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Whoops, you have me confused with someone else (I hope she's YOUNG and THIN!) I have never "dated" anyone in San Pedro since we first bought property there 11 years ago. I have been married since 1980. My husband may look like a "local" but he isn't. And he's never been a realtor, either here or in Belize.
Susan Guberman-Garcia, Attorney at Law. Phone: 510-792-2639 Fax/Voicemail:: 510-405-2016 Email: [email protected]
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Joined: Apr 2000
Posts: 498
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Susan,
The reason I suggested Jesse or Amanda was because I wanted you to get the answer from people in the business.
I too remember only 10% as the commission to be paid on a sale, but I wanted to make sure.
Okay Jesse, your move. I am sure you are reading this.
Jim
**Jim
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Joined: Sep 2000
Posts: 139
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Just listed my property to sell.The commission is 10% plus 8% of the 10% for sales tax on professional services.
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Joined: Oct 2000
Posts: 58
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I have been busy asking several realtors this exact question since I plan to sell my land. 10% seems to be the going rate though there are a couple exceptions for exclusive listings.
Everyone wants an exclusive listing but to me that didn't seem to be the way to go to ensure the best coverage. They tried tactics such as we will not advertise non-exclusive listings, etc, to try and get me to sign exclusively. The way I figure it those that do the work should reap the benefits.
There is not a multiple listing service in Belize such as we are accustomed to in the states. I have been asked to sign contracts with clauses that if anyone they bring decides to buy within a year after the end of the listing then I would be liable to pay a commission. They also indicated that they will charge prospective purchasers to show the land. They would not consider commission sharing. Lots of requests that I don't feel are reasonable.
I have not run into a request that I pay sales tax on their commission. Seems like they should absorb their own cost of doing business with commissions as high as 10%. I would never agree to paying such a fee.
Actually it is the Belizean lawyer (who costs the buyer an addtional 2-3%) that does the work on processing the titles so I really cannot figure out what the realtors do to ask such a high fee.
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