[SouthFloridaNative]

Anyone else think that the commission is a bit high for realtors? We plan to sell our house cheap for a quick sell....we don't want the haggling. So basically whoever we list with isn't really going to need to put much effort into selling it. I just don't see paying someone $15,000 to $20,000. No wonder everyone ran out to get a realtor's license in the last year..EASY $$$. I can see paying maybe $5,000 but to give them half the profit of your home is a bit much. We are the ones that spent the time making it nice and putting more $ into it..not them. And all I hear now is how this is a "down market". If it is so down then how come there are so many realtors??? I think there are more agents than there are homes for sale. Am I missing something?

[JBrown]

I agree with you.. they bring nothing to the table for the money they get

I don't plan on ever again using one....I've found they only add to the confusion

[Sunscape]

I agree with you . We have , several times now, used the companies that will advertise and do the paper work for you for a much lower fee and have been pleased with the results. There are several in all areas that will charge a flat fee for doing that and it's not like paying a 6% fee to a real estate agent. The down side to this is, you probably, have to show your own house; if you would feel comfortable with this , you would not be paying high prices for a full real estate company. Of course, you can first try to sell it yourself, and if you don't , then hire one of those companies.

[SouthFloridaNative]

I am glad others see it like I do. I really wish Assist2Sell had an office in our area. I have heard alot of good about them. I have been calling local realtors and telling them I am shopping around and playing dumb like I don't know anything about real estate transactions. So far only 1 has offered to negotiate the commission and some of them seem to have less knowledge than I do. I think they need to compete and try to please me (since I am the one that will be paying them) or I simply will not use them. I am capable of researching, taking pics, writing descriptions, and showing the good/bad points of my home. They just want everyone to think it's impossible so they can keep making that big easy $.

Oh, also, they keep on about the "down market"..it's such a "buyer's market" here but when I called on house in North Fl for sale the agent told me prices are going up everyday there and and it's a "seller's market "and how I better act fast before it's gone. LOL!!

[hiknapster]

I don't know. That may be true. I bet a lot of people are moving to north Florida.

[mbmouse]

I am not pushing Realtors here, and No I am not one, but I work in a field that I deal with them. (Nope, not a builder/contractor either hahahaha) But the average 7% that is a real estate commission, is split between the buyer and sellers agent (vary rarely is it the same one) and they both have to split that 50/50 with their Broker (Centery21, Remax, ect.) This pays for their phone lines, office space, general advertising etc. So if the commission on a sale is 10k, each Realtor gets 5k, then split that with their broker, means $2,500 per Realtor. They have paid $500 for MLS listing of you house, gas for driving folks to see your house (and 20 others) and they have the knowledge and expertise to have your best interest at heart when filling out the contract. Then they follow up with your Mortgage Broker and make sure they are having your best interests at heart, and the title company is doing the proper searches on your property and several other aspects of the sale they handle for you that you don't even realize. They act as the checks and balance system for your transaction. So for the $2,000 they will actually end up with in their pocket,(less gas and other small expense's) they have put 60 or more hours into your sale transaction,(that is assuming it sells in about 3 weeks) divide that out by the hour and you get about $33.00 per hour. A lawyer gets what..........$125....$250 an hour? (Would you go to court without a lawyer?) So is that really that much to pay someone to protect your interest in one of the largest financial transactions the average person conducts in a life time?
Again, this is assuming you have a GOOD Realtor, which I know can be far and few between. But if you are going to sell, it is a benefit to do the homework to find a really good Realtor.
Just my 2 cents worth here, not meaning to get anyone riled up, just explaining.
Oh, and you can always ask them to accept 5% for the listing of your house if it sells within a short time. This IS negotiable. If they say it is not, move on to a different broker .

[gypsychic]

Originally Posted by mbmouse

I am not pushing Realtors here, and No I am not one, but I work in a field that I deal with them. (Nope, not a builder/contractor either hahahaha) But the average 7% that is a real estate commission, is split between the buyer and sellers agent (vary rarely is it the same one) and they both have to split that 50/50 with their Broker (Centery21, Remax, ect.) This pays for their phone lines, office space, general advertising etc. So if the commission on a sale is 10k, each Realtor gets 5k, then split that with their broker, means $2,500 per Realtor. They have paid $500 for MLS listing of you house, gas for driving folks to see your house (and 20 others) and they have the knowledge and expertise to have your best interest at heart when filling out the contract. Then they follow up with your Mortgage Broker and make sure they are having your best interests at heart, and the title company is doing the proper searches on your property and several other aspects of the sale they handle for you that you don't even realize. They act as the checks and balance system for your transaction. So for the $2,000 they will actually end up with in their pocket,(less gas and other small expense's) they have put 60 or more hours into your sale transaction,(that is assuming it sells in about 3 weeks) divide that out by the hour and you get about $33.00 per hour. A lawyer gets what..........$125....$250 an hour? (Would you go to court without a lawyer?) So is that really that much to pay someone to protect your interest in one of the largest financial transactions the average person conducts in a life time?
Again, this is assuming you have a GOOD Realtor, which I know can be far and few between. But if you are going to sell, it is a benefit to do the homework to find a really good Realtor.
Just my 2 cents worth here, not meaning to get anyone riled up, just explaining.
Oh, and you can always ask them to accept 5% for the listing of your house if it sells within a short time. This IS negotiable. If they say it is not, move on to a different broker .

All of this is true, I used to be a realtor/associate many, many moons ago. It is very helpful to use a GOOD professional realtor when you sell. When I sold my home a year ago I hired a good one with a lot of experience in the area, and she negotiated the commission to 5%. She did a great job, posted a great looking virtual tour on the net, and bottom line helped me sell my home in ONE WEEK! If you are in a hurry to sell, or in a down market I think you need a good realtor who is willing to negotiate and work with you. Also, remember if you are selling yourself, you are opening your home to strangers, and that scares me a lot. My realtor pre-screened everyone, and only brought pre-qualified buyers.

JMO, of course, but good realtors are needed more often than not when selling property.

[SouthFloridaNative]

Thanks for responding. I appreciate the different opinions. Selling or buying is extremely stressful for sure.

[mandyh]

We have had our farm for sale on and off for 2 years. We went through 2 bad realtors before we found the one we have now. Our realtor negotiated the commission to 5%. He is very experienced and has been working hard to find a buyer for our place. The one thing I found out about selling property is you dont want a new realtor and you dont want someone who is just a part timer. Makes a big difference. When we finally sell our place, I think I can safely say our realtor will have earned the commission and I wont mind paying it to him.

[bbabessp]

OMG 8 or 7 % in northern virginia we only charge 4 or 4 1/2 depending if you buy your next house with us. And we always give the buyer agent 3% and when you buy a house with me we give cash back to all our buyers at .5%