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Article: Study: 6 percent too high for real estate commissions. (Focus on Real Estate).(Brief Article)
- Article from:
- Fairfield County Business Journal
- Article date:
- January 21, 2002
CopyrightCOPYRIGHT 2002 Westfair Communications, Inc. 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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The vast majority of homeowners in the greater New York-metro area are unhappy with the customary 6 percent real estate commission and believe commissions can be lower, according to a recent Zogby International survey.
The study was commissioned by YHD Foxtons of West Long Branch, N.J., a full-service, 2-percent-commission real estate agency.
In addition, the survey showed that four out of five homeowners believe some agents hold back information on some homes in order to promote the sale of other homes.
The survey showed that:
* 71.3 percent of New York-metro homeowners think a 6 percent commission for real estate agents is too high.