Our Commission Schedule


 

 

Residential Fees:

  •  6% of the sale price up to $200,000
  •  5.5% of the sale price from $200,000 to $400,000
  •  5% of the sale price from $400,000 to $600,000
  •  Over $600,000 is 5% of the first $600,000, plus 4% of the next $500,000, plus 3% of the remaining balance.

Commercial Fees:

  • 6% of the sale or lease price up to $1,000,000
  • 5% of the sale or lease price over $1,000,000

 

Flat Fee Structure offering significant savings to the Seller:

A Listing Fee" equal to one percent, (1%) of the list price will be paid at the signing of the Exclusive Listing Agreement for a minimum six month term. Great Lakes Realty will create and distribute a marketing flyer, place a sign on the property (if allowed), enter it into the MLS & Internet, and run the first month's advertising campaign. (Seller will pay all advertising and marketing expenses after the first month). If Great Lakes Realty sells the property during the term of the exclusive listing, or any extensions thereof, with no co-broker involved acting as a "Dual Agent"; 50% of the above commission schedule will be paid by Seller in addition to the paid Listing Fee. Co-Brokers selling the property during the term of the exclusive listing, or any extensions thereof, acting as a "Buyers Agent"; will be paid 50% of the above commission in addition to the paid Listing Fee.

 

Savings example assuming an average sale price of $200,000:

1.      The industry standard commission would normally be 7% of the first $100,000, plus 5% of the balance equal to $12,000.00.

 

2.      Our fee structure would be the "Listing Fee of $2,000.00, plus 3% of the sale price totaling $8,000.00. That's a $4,000.00 SAVINGS over the industry standard equal to 4% of the sale price!