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Question though...let's say you offer 2.5% to a buyers agent..
Will a buyers agent bring buyers, or do they just ignore those listings? I remember when we were buying this house there was one self-listed one, and we asked about it, and our buyers agent sort of brushed it off, I forget exactly what she said.
Most of us don't care with what broker your house is listed. If it's easy for us to find out about it, if it meets the needs of our client, if we can get answers to questions, and get in to show it without having to jump through a series of silly hoops, we'll get our buyers into it.
We bought a house that was being sold under Foxtons? I think? Anyway they had a 3% commission. My realtor brought us there and there was also another offer on the house. So I guess they do show it. But that would be my fear listing through someone like that.
Selling a house is tough, especially now. We are trying to sell ours and taking a huge hit.
40,000 is a lot to spend on selling your house but everything is expensive about north jersey real estate!
I think paying by the hour would be great! I mean sometimes you buy the first house or second. Not much work done here. Or a house is sold in a month(or even a few days) compared to 8 months plus.
But since it doesn't work that way its all about the percentage. I mean if you can afford that 800,000 house most likely you are making more than a person who is buying a 200,000. So although it might only cost 15,000 to sell that 200,000 house that is a big hit to them too.
We are looking to rent until we can sell our house and it sux because as the renter you have to pay both commissions. Dumb! The person renting the house doesn't pay anything!?!
Think of some person selling their house FSBO who has no experience vs. dealing with another realtor who does have experience. Does the owner know he has to get a COO? How is he going to deal with the inspection? Things I as a seller expect to get help from my realtor with.
I'm not saying it has to be that way, but my guess is it would generally be more difficult.
Think of some person selling their house FSBO who has no experience vs. dealing with another realtor who does have experience. Does the owner know he has to get a COO? How is he going to deal with the inspection? Things I as a seller expect to get help from my realtor with.
I'm not saying it has to be that way, but my guess is it would generally be more difficult.
The CO is usually something that is on the standard contract, and if not, something the buyers attorney needs to catch and add.
I definitely don't see how the inspection would be harder. At the point, the deal is at the attorneys and they are the ones who write the letters back and forth once the inspection report comes back.
I could see though that it might be more a pain dealing directly with the seller. I guess the commission would have to be worth it to them.
We are looking to rent until we can sell our house and it sux because as the renter you have to pay both commissions. Dumb! The person renting the house doesn't pay anything!?!
Question though...let's say you offer 2.5% to a buyers agent..
Will a buyers agent bring buyers, or do they just ignore those listings? I remember when we were buying this house there was one self-listed one, and we asked about it, and our buyers agent sort of brushed it off, I forget exactly what she said.
It is actually unethical to even consider the amount of the offer to the buyers agent. We are supposed to be thinking of our client first and foremost, and if the house is a fit, then we are supposed to show it without prejudice. Some agents adhere closely to the required ethics. But I would argue that many do not. If you remember Foxton's, they charged 3% and kept 2% and offered the buyer's agent 1%. And they went under, so apparently many agents did not pay attention to their ethical obligation and "ignored" Foxton's listings.
It is completely negotiable though. Don't assume as a renter that because the agent tells you you have to pay the commission that that is the only way it can be. Make an offer to pay 1/2 the commission. In many cases, the landlord will say OK. Especially if you are a strong tenant with decent credit and a stable job. In fact, in some cases you can offer to not pay any of the commission, and the landlord might give in, especially if the apartment has been vacant for awhile.
ALL commissions are negotiable, so do not be afraid to negotiate.
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