I am located on Seattle's East Side where the real estate market is hot and inventory low, so I doubt I'm going to have a difficult time selling my home. 99% of buyers first search online to find the homes they're interested in rather than having agents show them the homes sight unseen like in decades past. It's really online MLS listings that sell homes in 2017, not agents so I have decided to use a flat fee broker which will put me on the MLS and all of the major real estate sites and save me the 3% listing agents commission ($75000).
I realize that I need to offer the buyers agent a commission (or there will be no incentive to show the home), however 3% or $75,000 for 20/30 hours of work seems extreme. It's just as easy to sell a lower priced home than it is a higher priced one and I'm sorry but opening a few lockboxes, driving clients around and completing paperwork isn't worth $2500 an hour in any universe no matter how good the agent is. 2% commission is still $50,000 (which in my mind is still ridiculous compensation for the value that agents add, but still saves me $25,000. My worry is that buyers agents will bad mouth my house or be reluctant to show it if the commission is less than the full 3% even on a 2.5 million home. In the higher end real estate market how common is it for people to offer buyers agents a lower percentage of the sale price; what is the acceptable range? Any advice greatly appreciated!