The Palm Beach Post is reporting that Donald Trump has sold his Palm Beach oceanfront mansion (at left) for $95 million. He and his real estate broker originally listed it for $125 million. Since it sold for $30 million less than the asking price (or 24% less than the asking price), we now have another great piece of evidence that agents don't do a good job in effectively pricing homes. For a better way to price a home, click here.
We'd also like to know how much in commission The Donald had to pay his agent. While the average commission rate is in the 5-6 percent range, we suspect that he is paying more in the 3.5% range. Even at this percentage, Donald Trump is paying a $3.325 million commission!
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1 comments:
I would love to know this as well! I mean, just 5% is nearly half a million. Definitely more than most people make in a year.. wow
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