Selling condo "by owner" & realtor is asking 4% to show it... (real estate, houses)

[LeavingNJ]

Just curious if you all think this is reasonable. She says she has potential buyer that would be interested, but won't show the condo unless we agree to a 4% commission. We were ready to offer 3%, but may offer her 3.5%

What do you think?

[Lusitan]

I think it's BS and I wouldn't go for it. She can expect no more than 3% if she were showing them any other listing (other than her own listings, of course) so she's just trying to pull one over on you. Tell her to take her usual 3% or take a hike.

By the way, if you make sure to get your house on the MLS, these prospective buyers are probably savvy enough to search the MLS on their own and will force their agent to show the house if they really are interested.

Gee - wonder why agents have a bad reputation ...

[Ellwood]

If she is hungry enough, she'll take the 3%. In this market she's lucky you are even agreeing to give her anything.

[tahiti]

I did a FSBO and offered 3% - agents were happy to show, and this was in a sellers market. I'd be surprised if she turns it down.

[LeavingNJ]

Hmmm...thanks. We went and told her 3.5% would be the most we'd offer, but now I'm wondering if I should just tell her 3% is fair, on reflection. I'm a little irked to be honest. She's going to fax over some type of agreement, so I still need to peruse that to see if I need a lawyer's eyes on it or not.

I appreciate the opinions, folks.

[wileynj]

Originally Posted by LeavingNJ

Hmmm...thanks. We went and told her 3.5% would be the most we'd offer, but now I'm wondering if I should just tell her 3% is fair, on reflection. I'm a little irked to be honest. She's going to fax over some type of agreement, so I still need to peruse that to see if I need a lawyer's eyes on it or not.

I appreciate the opinions, folks.

Make sure the agreement id for THAT buyer only! Sounds like she's looking for the listing... watch your back!

[Jillian Mason]

Hi there. A realtors opinion for you if I may...2.5%-3% is the standard today. There are agents out there who will not show listings with 2% commission. These agents are obviously not working in their clients best interest, but their own. 3.5 percent is a bonus commission usually for someone who wants a quick sale. If you already told the agent 3.5%, it's up to you if you want to change it. I think 3% is more than fair though and you don't want to get yourself involved in a deal with an agent who's a bully and/or greedy. As for the paper to sign, that is standard. It usually just says that they are bringing a buyer and introducing them to the property and that if at any point, this buyer makes an offer on the home, you acknowledge that the agent was responsible and you'll pay a (fill in the blank) commission. My only tip to you is to make sure the commission is payable when the home closes (not when the contract is written).

[Bill Keegan]

Originally Posted by LeavingNJ

Just curious if you all think this is reasonable. She says she has potential buyer that would be interested, but won't show the condo unless we agree to a 4% commission. We were ready to offer 3%, but may offer her 3.5%

What do you think?

That depends. She's telling you what it will take to get her to bring her clients in to see, and possibly buy, your house. Perhaps she has reason to believe that she will have to do more work, since there isn't a real estate agent managing the other side of the transaction. Or perhaps she knows, and is taking advantage of the fact, that it's a tough market, that many houses are sitting for long periods of time, and that a good buyer is worth something to an eager seller.
Have you had significant traffic through the place? Is it on the verge of being sold to someone else? You can agree to her 4%, and just make sure you account for it during the negotiations to get to a final price. After all, what's more important to you? What the agent gets, or what you put in yrou pocket? If you say no to this agent, and her buyer, are you leaving your pockets empty?

[nutleynut]

if it is FSBO then you don't use an agent. If you are paying an agent then it isn't FSBO. If it is the buyers agent, then the buyer pays the agent. If I were you I'd wait for another buyer, this agent is scamming ya.

[joe moving]

I think that HALF of normal is fair. Normal is 5-6%. So 3% would be on the high end. JMO.