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Article: Real estate commissions are negotiable for seller; Willingness to cut fee varies from agent to agent; 7 percent commission in Twin Cities exceeds most areas.(HOMES)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- March 27, 1999
- Author:
CopyrightCOPYRIGHT 1999 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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What's the standard real estate commission in the Twin Cities? "There isn't a standard commission," said Kevin Ries, president of the Minneapolis Area Association of Realtors and an agent with Edina Realty.
"Brokers don't want to talk about it, but all commissions are negotiable . . . particularly on higher-priced homes," said George Karvel, holder of the University of St. Thomas' distinguished chair in real estate studies.
That may be true, but it's not widely understood by all consumers, according to Stephen Brobeck, executive director of the Consumer Federation of America (CFA), a nonprofit association of consumer groups based in Washington, D.C.
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