Standards For Real Estate Transactions: Fill & Download for Free

To answer your core question: any commission can be negotiated. The standard commission can be difficult for a person to negotiate on their own simply because that is the norm when it comes to real estate sales. Seldom will someone accept less money out of the kindness of their heart, so be willing to give something in return for this type of request. A broker may be interested in learning that you will use them for future real estate transactions or that you plan on referring them in the future. The acceptance of those terms will certainly come down to what the broker is comfortable doing. Remember, just because you ask does not mean it’s what you’ll get.The good news is, real estate is full of negotiation! Negotiating for terms on your own can be complicated, but there are real estate attorneys who can help you. LawTrades is a marketplace that offers top-notch attorneys who can help you negotiate the terms of your contract and walk away with the best outcome. Don’t feel like you have to do this solo! Contact us today for a free initial consult!

23 Wall StreetWhen JP Morgan bought the land at 23 Wall Street in New York around 1912 for a new headquarters building for his banking business, it was the most expensive real estate transaction in the history of the United States up to that time.The technology already existed to build tall buildings. Not quite "skyscrapers" by our modern standards, but there were already buildings in New York with more than ten stories. Indeed, there was one such building standing just across the street.JP Morgan decided to build his building only four stories high, just to show off that he could afford to buy the most expensive piece of land in the country, and then put a building only four stories high on it.He also didn't put his name on it, nor the eponymous name of his company, because he figured everyone would know what the building was.(Photo credit: wikimedia.org)JP Morgan & Co. owned the building until 2003, using it as a conference center after moving their headquarters to a larger building in the 1980's. They never did put their name on it.More information: 23 Wall Street

According to this article, sometime in the 1940s:The idea of a 6% Real Estate commission being paid to the agent originated during the 1940's when local Real Estate Boards openly engaged in price fixing to establish a standard rate. This process was an out and out case of an unfair practice, but the 1940's was a time when the attention of the country was directed to some serious external matters and the idea took hold and spread quickly through the industry.http://ezinearticles.com/?The-Origins-of-the-Six-Percent-Real-Estate-Agent-Commission&id=614635Article Source: Page on ezinearticles.com