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Old 07-08-2008, 12:21 PM
 
Location: Mostly in my head
19,831 posts, read 56,079,330 times
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I have lived in 3 states and 6% was pretty much it for a good agent with a good company, meaning one who will work for you rather than just list the house.
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Old 07-08-2008, 12:22 PM
 
236 posts, read 732,289 times
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johne482

ppl are saying that i should try to negotiate a better realtor fee than the typical 6% they charge.
i am looking to list my home this week. the realtor typically charges you 6% of the total sale price.
they are telling me to ask the realtor to lower his fee to 4%...which would allow me to save more money (put less money in the realtors pocket).
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Old 07-08-2008, 12:37 PM
 
7,109 posts, read 9,745,269 times
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Do you know the answer to:

0+0=?

Answer: Zero. You're not putting less money in realtor's pocket you are putting -0- in YOUR pocket.The object is to sell your house now. Lots of competition out there. Money needed for your next house or money in the bank--how much is that worth?

A lot of people have plenty to say when they have nothing at risk. Heck, it's your house! Do yourself a favor and do the following: (a) check to see how many posts there are on City Data with people CRYING that they can't sell their house (b) check MLS data for AVERAGE days on market to sell (c) check data how many houses are in foreclosure now in U.S. and how many banks don't give a damn about $$$$they will accept to get out. They too are your competition.
Clue to answer of question (c)--Bigger than a bread box smaller than a nuclear explosion. (1-2mil)

BTW. I AM NOT A REAL ESTATE AGENT NOR AM I ASSOCIATED WITH ONE.

Good luck and let us know your decision is because I am always interested in anything having to do with real estate.
john
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Old 07-08-2008, 12:38 PM
 
Location: Wantagh to Waxhaw
536 posts, read 1,542,642 times
Reputation: 164
Default It's all good!

Quote:
Originally Posted by stephen424 View Post
johne482

ppl are saying that i should try to negotiate a better realtor fee than the typical 6% they charge.
i am looking to list my home this week. the realtor typically charges you 6% of the total sale price.
they are telling me to ask the realtor to lower his fee to 4%...which would allow me to save more money (put less money in the realtors pocket).
If there policy is 5-6% asking them to lower it, will just unmotivate them, IMO. If you want to go lower than that %, then you should stick to the companies, that have streamlined there business to maximize the low % they ask for.

I used to do 4% back on Long Island, when I left there over two years ago (times were good then), but the high price on a starter home dictated a lower percentage. Hence BIG name companies were only doing it for 4-4.5%. Since then, I am hearing they have raised it to 5%-6%, because it is tougher to sell a home. That is why when I came down here I decided to go with a company that I believe charges a fair amount.

Here are some stats (broken link)for you to comtemplate.
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Old 07-08-2008, 12:41 PM
 
Location: Trinity Florida
7,930 posts, read 17,803,940 times
Reputation: 1997
they arent going to lower it if u go with a traditional agency like allen tate they arent allowed to go under 6%....Remax might be able to do it for 4% as I worked for Remax for quiet a few years...You might also want to try a Discount Broker if you cant do the commision, they will list your home for 1% but u still have to pay out to the buyers agent 3% so either way your spending 4%. but if you really want to sell I would go with a proffessional with a full service agency...Also remember if you dont require full service then go that way, but the discount brokers dont really do very much as a full service broker will...

Last edited by Swimmom32; 07-08-2008 at 12:50 PM..
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Old 07-08-2008, 12:48 PM
 
7,109 posts, read 9,745,269 times
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I forgot one thing then I must go to collect some rents overdue by 8 days. I posted somewhere today about paying a bonus. If you want to play Donald Thrump if front of your friends do the following:
a) negotiate the fee down to X
b) offer to pay commission in full if the RE sells your place in 75 days and 1% more if he sells in in 45 days or less.

At least now you're a player and not just another house seller looking to sell "another house "

BTW I used this statergy 2x and it worked both times. Once in NY and once in CLT. Both times less than 45 days.
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Old 07-08-2008, 12:48 PM
 
Location: Mostly in my head
19,831 posts, read 56,079,330 times
Reputation: 19030
You need an experienced agent who knows how to price it in this market. An experienced agent is too aware of their value in marketing, contacts, and knowledge to cut their own $$.
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Old 07-08-2008, 12:51 PM
 
7,109 posts, read 9,745,269 times
Reputation: 2564
Quote:
Originally Posted by Keith "Baby-Face" Lutz View Post
If there policy is 5-6% asking them to lower it, will just unmotivate them, IMO. If you want to go lower than that %, then you should stick to the companies, that have streamlined there business to maximize the low % they ask for.

I used to do 4% back on Long Island, when I left there over two years ago (times were good then), but the high price on a starter home dictated a lower percentage. Hence BIG name companies were only doing it for 4-4.5%. Since then, I am hearing they have raised it to 5%-6%, because it is tougher to sell a home. That is why when I came down here I decided to go with a company that I believe charges a fair amount.

Here are some stats (broken link)for you to comtemplate.
Good stuff and FAST.
OP-look at the "active" col.The "withdrawn" col. is prob. b/c they couldn't sell and want to list with new date.
see you later folks
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Old 07-08-2008, 12:52 PM
 
236 posts, read 732,289 times
Reputation: 139
BABYFACE,

I don't see how asking them to lower to 4% would "unmotivate" them.
4% is still better than zero
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Old 07-08-2008, 12:58 PM
 
7,780 posts, read 13,508,637 times
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Quote:
Originally Posted by stephen424 View Post
BABYFACE,

I don't see how asking them to lower to 4% would "unmotivate" them.
4% is still better than zero
But it's less than the majority of the other homes in the market.

You just bumped your home way down on any touring agents list.
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