Prior to listing our home with our agent who helped us find a new home, we found a buyer to purchased our existing home. My husband and I negogiated a price with the buyers of our home. Our agent was then only responsible to draw up the closing papers. He did not have to list the home, stag it or show it.

The purchase price was $430,000. What would be an appropriate fee we could give our agent for helping us?

Thanks,

Sandra Fortura

Negotiation will depend a lot on how much commission the agent has to split with the broker. If the agent can be flexible, than you can negotiate a flat fee. Some brokers pull really tight reins on their agents.

You could go as low as 2%, since 2.5% is a mid-range fee. You could also just give him a flat fee that is a little lower than 2%. You are free to do as you want. The sale, though, is not all about paperwork, though, as there are quite a few hours spent on the phone with the buyer's agent and the escrow office. Be fair, but realize there is great room for you to negotiate.

First when you signed with your agent, did you list this person as having already looked at the home. You had to have that in the agreement, or the full commission would be due.

Next I will assume you did not have them do it, without coming to a written agreement on a fee.

Next the broker does not do closing papers, they may do a contract for the sale of your home, but in that paper work his fee would be listed.

So more details of what contract agreements were already made