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Old 07-08-2008, 12:58 PM
 
Location: Trinity Florida
7,930 posts, read 17,809,489 times
Reputation: 1997

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they arent making 4% they have to pay their broker and if they DONT sell the house and someone else does the buyer agent gets paid...
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Old 07-08-2008, 01:02 PM
 
Location: Wantagh to Waxhaw
536 posts, read 1,542,890 times
Reputation: 164
Default Easy Breezy!

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

That's easy. If you took a paycut by 66%, how motivated would you be?
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Old 07-08-2008, 01:05 PM
 
Location: Wantagh to Waxhaw
536 posts, read 1,542,890 times
Reputation: 164
Quote:
Originally Posted by Alpha8207 View Post
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.
Not sure I follow your logic. The listing agent gets 1%, the Buyers Agent still gets 3%. No bumping down any list.

If I sit at my computer in Timbuktoo, and ask my Realtor to show me this home MLS#123456, then he should show it to me when I visit. In Charlotte the Buyers Agent is KING! They make the money.
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Old 07-08-2008, 01:07 PM
 
7,780 posts, read 13,512,232 times
Reputation: 3457
Quote:
Originally Posted by Keith "Baby-Face" Lutz View Post
Not sure I follow your logic. The listing agent gets 1%, the Buyers Agent still gets 3%. No bumping down any list.

If I sit at my computer in Timbuktoo, and ask my Realtor to show me this home MLS#123456, then he should show it to me when I visit. In Charlotte the Buyers Agent is KING! They make the money.
I thought we were talking about a listing agent lowering their commission.

My bad.
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Old 07-08-2008, 01:11 PM
 
Location: Huntersville
1,852 posts, read 4,677,900 times
Reputation: 525
Honestly, the sellers agent can only do so much. It's the buyers agent, that brings in the buyers. A 5% or 6% isn't going to stop a buyer (unless their realtor specifically doesn't show the house). Why it's a buyers market and 5% may work, depends on the house and if the realtor thinks they can sell it. Remember a realtor has to agree to the % up front, so if they don't want the job, then they don't take it. I have plenty of friends in the business who would take 5% in a decent market where the seller knows how to sell their house. But 10% on a house that won't sell doesn't help. So do whatever you want, it's your money, but you aren't required to do 6%. Shop and compare, but make sure you get in writing what they will do.

As far as 60 or 90 days, it doesn't matter, but again, you are the buyer in this case, buying an agents services, you pick who you are comfortable with. I interviewed 5 realtors before I chose one. I did a 60 day, but market was in my favor. Today I would do a 90 day 5%, with a $500 to $1000 bonus.

Last edited by Whytewulf; 07-08-2008 at 01:51 PM..
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Old 07-08-2008, 01:17 PM
 
Location: Huntersville
1,521 posts, read 4,486,071 times
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A sellers agent doesn't do a lot? .... I can't even be bothered to go into detail. I had a list but hit a few keys and it deleted. Anyways a strong selling agent will spend a good amount of $$ to market your property etc. This is even before they get paid. Remember they only get paid when you close unless otherwise agreed upon.
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Old 07-08-2008, 01:48 PM
 
Location: Huntersville
1,852 posts, read 4,677,900 times
Reputation: 525
Quote:
Originally Posted by QC Misfit View Post
A sellers agent doesn't do a lot? .... I can't even be bothered to go into detail. I had a list but hit a few keys and it deleted. Anyways a strong selling agent will spend a good amount of $$ to market your property etc. This is even before they get paid. Remember they only get paid when you close unless otherwise agreed upon.
Let me rephrase... A Sellers agent spends the upfront money(listing, open house, marketing, tours, calls, etc) so they take on the risk right away. But in the "selling" of the house they can only do so much. So you could spend 20% and it can't help them sell an unsellable house.
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Old 07-08-2008, 01:49 PM
 
Location: Trinity Florida
7,930 posts, read 17,809,489 times
Reputation: 1997
Quote:
Originally Posted by QC Misfit View Post
A sellers agent doesn't do a lot? .... I can't even be bothered to go into detail. I had a list but hit a few keys and it deleted. Anyways a strong selling agent will spend a good amount of $$ to market your property etc. This is even before they get paid. Remember they only get paid when you close unless otherwise agreed upon.

right on the money as ive been a realtor in NJ for 6.5 yrs a good listing agent will do the advertising, is there for inspections, does the negotiating when an offer comes in, does the best to get you the best deal, A good agent is there every step of the way...but again I wont go into it.....NOT ALL listing agents are good I will give you that, but the GOOD ones will do whatever they can to try and get it sold...Also remember these market conditions arent easy to sell homes in right now, and since the market dictates everything what else can I say...

good luck in your decision....me personally I dont like Buyer agent Bonus's they should want to sell a house regardless of whether or not they make an extra 1,000 bucks...I always told my clients whether or not there was a bonus on it because I didnt just show a property because I was getting a bonus....the buyers agent does work very hard which also is their job and a good buyer agent knows their clients wants and needs...
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Old 07-08-2008, 01:51 PM
 
Location: Charlotte, NC
195 posts, read 483,053 times
Reputation: 56
Wait did someone say a seller's agent doesn't do anything???? WOW- you must be talking about the listing agents that would be happy to put your home on MLS for 1% and let it sit there.
Ok I think we all agree you get what you pay for. If you want a 4% listing you will get 4% service. I, for example, am confident in saying I have an outstanding marketing program and am very driven when it comes to selling homes and will not settle for 1%. Many brokers are worth every dollar they are paid, just like any other profession. Would you do your job at 100% if your boss paid you 66% less? It's a good way to look at it.
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Old 07-08-2008, 01:56 PM
 
Location: Huntersville
1,852 posts, read 4,677,900 times
Reputation: 525
Quote:
Originally Posted by Kari Strong View Post
Wait did someone say a seller's agent doesn't do anything???? WOW- you must be talking about the listing agents that would be happy to put your home on MLS for 1% and let it sit there.
Ok I think we all agree you get what you pay for. If you want a 4% listing you will get 4% service. I, for example, am confident in saying I have an outstanding marketing program and am very driven when it comes to selling homes and will not settle for 1%. Many brokers are worth every dollar they are paid, just like any other profession. Would you do your job at 100% if your boss paid you 66% less? It's a good way to look at it.
I agree 4% is too low if you expect the agent to do anything. If you plan on doing the work yourself, as a family member of mine did, and you just want the listing and paperwork there ya go. But if you want some effort I wouldn't go lower than 5%. Again, it depends on the agent and interview. Don't let them come in and promise the world. If they disagree with your pricing that might be a good thing. I'd rather have an honest agent that says, hey Jack you can't sell your house for $450,000 in this market and I won't waste my time trying, versus, putting up and hiding for 90 days. Just read your contract!
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