We originally said 6% is fine, but the realtor said when we were going over this – it is flexible. How likely would it be that she would lower it to 5% or 5.5% thanks!
Also, if we originally signed paperwork saying we agree to 6% when we sat down to get our condo listed, can it be revised to a lower %. I don’t think we are locked into 6% are we. Our place has only been on the market for 2 weeks. Thanks again!
It is usually the listing agents commission that you are negotiating. The selling agent (who has the buyer) expects a full commission. If three percent is the typical split for the buyers agent, I would only expect the listing agent to discount their fee so much before it starts to seriously affect their efforts to market your home.
If you have already signed a listing agreement, you may be stuck with the 6% for the time being. If it doesn’t sell. you might consider one of the flat fee deals and offer a bonus for the selling agent. Lets say you can list it for $495. Then you offer 4% to an agent who brings you a buyer. That saves you 2% less the $495.
MLS sells houses. Get creative if it starts to take longer than you would like to get it sold. Offer incentives to the buyer (e.g. assistance with closing costs, paying the 1st years condo dues, etc.) before you just start reducing the price. You may have to end up providing the incentives anyway and lower the price in advance of that will just reduce your net.
Good luck with the sale.
5.5 probably, 5.0 probably not
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In todays market, you’d be surprised how low they’ll go on acceptable commissions. I wouldnt be surprised if a 3% rate would be accepted.
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Well that is something you need to work out B 4 signing with her. In todays market most are happy to get a house if you are willing to list it at a price that will sell. The bare minimum they would list a house for is probally 3% and that’s if your there very very best friend. But it may not be worth there time and advertising for that. It costs them to list you and advertise. I would definetly check around and see what other realtors would take, sometimes alot less is not best because you can pay for it in the end in paperwork. It is not unreasonable to ask her to take 5% especially if everyone else is asking more he or she will be making a profit if it sells and you probally will have to take quite a reduction on your profit-its a competitive business and everyone is hurting right now, some real estate companies are closing its so bad. Get a CMA, comparative market analysis on your neighborhood with all details of the ones they are comparing your home to. Also before you tell them what you want to ask for your home have them come and look at your house and tell you what they think they can get for it right now and go from there, good luck.
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How serious are you about selling your property?
Assuming Salesperson "A" can show (2) homes selling at the same price. If he earns $1 for selling home No. 1 and 50 cents for selling home No. 2, which home will be marketed harder and faster?
In today’s market I would offer, in addition to a customary 5% fee, a bonus of 1% -3% to any broker who procures a Buyer assuming I need to sell the property.
A Spanish expression is sometimes a thing that looks cheap in the beginnning is really the most costly in the long range. If you need to sell…..sell and pay for the service. Otherwise, you can seek discount brokers who will do your paperwork for 2-2 1/2% of the selling price but will do no advertising or showing of the house. If this meets all your needs take advantage of this. Hope someone drives by your property…calls. shows up and makes an offer…It does happen.
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Been there done that
It is usually the listing agents commission that you are negotiating. The selling agent (who has the buyer) expects a full commission. If three percent is the typical split for the buyers agent, I would only expect the listing agent to discount their fee so much before it starts to seriously affect their efforts to market your home.
If you have already signed a listing agreement, you may be stuck with the 6% for the time being. If it doesn’t sell. you might consider one of the flat fee deals and offer a bonus for the selling agent. Lets say you can list it for $495. Then you offer 4% to an agent who brings you a buyer. That saves you 2% less the $495.
MLS sells houses. Get creative if it starts to take longer than you would like to get it sold. Offer incentives to the buyer (e.g. assistance with closing costs, paying the 1st years condo dues, etc.) before you just start reducing the price. You may have to end up providing the incentives anyway and lower the price in advance of that will just reduce your net.
Good luck with the sale.
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7 years mortgage lending experience.