Malibu Ransom: Half a million for a buyer
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This one comes out of left field: A $10.5 million listing in Malibu with a 7.5% commission, including 5% for the buyer’s agent. From Michael Gardner’s Malibu Real Estate blog:
‘Most agents go into a listing appointment hoping for a 6% commission but will often get the contract signed at 5%. In areas like Malibu and other expensive communities, it’s not unusual for the commission to be 4% on homes that are $6,000,000 or more. This home on Broad Beach (pictured) not only offers an exclusive address right on the sand but a whopping 7.5% commission with the buyer’s agent receiving 5%! If the house closes at the asking price the agent who brings the buyer will walk away with close to $250,000 AFTER the split (based on a 50/50 split) with their brokerage! This is one motivated seller!’
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Photo Credit: Michael Gardner