In the years I have been a Realtor, I have found more often than not, that clients, whether Buyers or Sellers, including Investors, are not familiar with the rules and the codes that Realtors must adhere to. That said, most have no idea that the Realtor fees are always negotiable. In fact, Realtors are not allowed to set fees amongst themselves in this profession. True, there is an average of what percent of the sale is paid to the Realtor, but it is not a set in stone rate. Also, a Realtor can even be paid a flat rate instead of a percentage!

The rules and codes that Realtors are obligated to abide by are designed to protect the clients' interests and this very much includes the rule that Realtors can't set fees amongst themselves. So, beware, if one is told otherwise, i.e. "the fee is not negotiable", one may want to walk away and look elsewhere for representation.

Being uneducated, clients are pretty much walking blind through the Real Estate selling and/or purchasing process, which is why one needs a competent, trust-worthy Realtor to guide them. When one finds that Realtor, one can expect that he/she will be worth whatever fee was negotiated.

But how does one select a Realtor who will be a good fit? Its really up to the client. Some want a Realtor who has many years of experience and sells an average of 100+ homes per year. Some prefer newer agents, ones who are barely selling 10+ homes per year. Reason being, they want someone who, being new, is very conscientious, also not too busy to pay attention. Some look to "Yelp" for those with 5 star-ratings and excellent reviews. Some will go with a Realtor who they know on a personal level or one who is referred to them by someone they trust.

However, many will choose one whose fee is well below the average. But please note, whatever the fee, a low one doesn't necessarily mean incompetence and desperation, nor does a high one mean beyond the beyond amazing representation.

On the other hand, a low one could result in a "you get what you pay for" and a high one impeccable service and a significantly above listing price accepted offer, closing on time or ahead of schedule.

One is fully within their rights to shop for the best fit and should do so. Above all, it is in one's best interest to select a Realtor whom one can trust and one who will be in good communication with one throughout the process. Once that is nailed down, negotiate the compensation for a win-win.

I wish you all the best in your journey.

I attended an Advanced Contracts Continuing Education Class in Denver, CO. This particular clause (below) was gone over in detail. I am sharing this as I feel it is very important for all Colorado residents and potential residents to know, especially if looking to purchase a home in Colorado.

8.4 - Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY AND BY OBTAINING FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND RECORDER, OR THE COUNTY ASSESSOR."

I hope you find this information useful and that it helps you safely navigate through the somewhat daunting process of purchasing a home.