 tax/real estate (by Rosalind Hazel [OH]) Jan 6, 2015 10:36 AM
 tax/real estate (by Kristy [LA]) Jan 6, 2015 10:48 AM
tax/real estate (by Kim [WV]) Jan 6, 2015 8:58 PM
tax/real estate (by Vee [OH]) Jan 7, 2015 7:21 AM
tax/real estate (by Pm h [TX]) Jan 7, 2015 12:48 PM
tax/real estate (by John [NY]) Jan 7, 2015 3:23 PM
tax/real estate (by Rosalind Hazel [OH]) Posted on: Jan 6, 2015 10:36 AM
Message:
State Specific Question About: OHIO (OH)
Is there a set percentage of tax real estate agent charge in OH
on any sales they make for home owners?
Thanks ,
Rosalind --98.109.xxx.xxx |
tax/real estate (by Kristy [LA]) Posted on: Jan 6, 2015 10:48 AM
Message:
It is not a tax. It is a fee. In Ohio, I believe the fee is 6% of the purchase price, to be paid by the seller, and split 3% for seller's agent, 3% for buyer's agent.
--174.70.xxx.xxx |
tax/real estate (by Kim [WV]) Posted on: Jan 6, 2015 8:58 PM
Message:
The seller pays the fee. It's usually 6% but a savvy seller can negotiate a lower percentage. On high price residential properties or commercial properties (think 7 figures) it is customary for the agent to accept much less than 6%. The seller's luck in negotiating a lower percentage is going to depend on their negotiating abilities, what services the listing agent will provide, how badly the listing agent wants the listing, the policies at the listing agent's company, and the listed price of the residence or commercial property. --173.218.xxx.xx |
tax/real estate (by Vee [OH]) Posted on: Jan 7, 2015 7:21 AM
Message:
Last time I checked it is 7 percent reduced to 6 for the amount over 100k and splits equally to the agents. Closing, escrow and other fees will be found and applied as negotiated. --75.94.xxx.xxx |
tax/real estate (by Pm h [TX]) Posted on: Jan 7, 2015 12:48 PM
Message:
Fee is negotiable in TX --166.137.xxx.xx |
tax/real estate (by John [NY]) Posted on: Jan 7, 2015 3:23 PM
Message:
It is a fee not a tax. For RE Agents it can range but it is solely up to the Broker (owner of the firm) NOT the agent to determine what the rate is going to be. That is also true for the split between other agents/offices. Not all offices split "evenly" or at all.
All of this would be disclosed in your contract with the agent/office though.
Some listings may be higher than the 6% or 7% and could be listed as a flat rate depending on the price (being that if it's sold too low- there is a "break even" point for the agents/offices. Not many out there will bother showing a property if all they are going to get is a few bucks. --24.59.xx.xxx |
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