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Updated over 3 years ago,
Selling my home - looking for a Broker in CA
Hi guys, new to BP. Looking for an advice. I'm licensed real estate agent in CA - got my license about 4 years ago mainly to save money when buy/sell investment properties. Was affiliated with a broker who deducted 30% of my commission and no monthly dues. I didn't mind giving him a cut since I'm not full-time agent and have in total 4 or 5 deals closed for the 4 years. Well the broker recently passed away. Signed up with a new one who was recommended from the same office. Have not signed any commission agreement yet but verbally I was told the commission structure will stay the same. I'm currently in escrow selling my own house. Listed the house in MLS and got in escrow in less than a week. I'm representing Buyers as well. I dont have listing agreement in place yet. I offered 2% for the Buyer's agent on the MLS. My Broker wants to charge me 1% of the purchase price ($600k) and in his mind that's a discount. I'm doing all the work and literally never met the broker in person, also not getting any help from him. Seems to me that paying him 6k just because he is a broker is an overkill. Is it too late to transfer the deal to a new broker? Is the 6k he wants normal fee for doing business under him? and finally how to find a new broker? I haven't sent commissions instructions to escrow yet.Thanks in advance!