What a difference! (agents, contract, closing, sellers)

[the painter]

Here is one for the books. Agent says to me that she would handle the contract to closing IF I lucked out and sold it myself. Says she would have to charge just 2%, which would be 5k or so, another agent says the fee would be $250 bucks and a 3rd said between $300-$500. Do any of you do just the contract to closing for a FSBO? Just curious because of the price/fee difference. Thoughts anyone?

[Silverfall]

Originally Posted by the painter

Here is one for the books. Agent says to me that she would handle the contract to closing IF I lucked out and sold it myself. Says she would have to charge just 2%, which would be 5k or so, another agent says the fee would be $250 bucks and a 3rd said between $300-$500. Do any of you do just the contract to closing for a FSBO? Just curious because of the price/fee difference. Thoughts anyone?

Yep I do. I do an hourly rate for those and my cheapest was $400 and most expensive $1250 (LOTS of hand holding on this one and neither party had access to fax and emails so lots of driving all over). Generally get them done for $600-$700 dollars.

[chet everett]

Probably more a way to respond to the "we'll put you in MLS for a flat fee" type offerings. I suppose it might work in some areas, but the value is hard to know until things go well or horribly wrong...

I personally would not find this to be useful as either a seller or an agent...

[middle-aged mom]

My brokerage does not allow agents to handle contract to close, cases.

Independent brokers often will do so, on a fee for service, basis.

A real estate attorney may also be an option, depending on how much the attorney is willing to do as it relates to the oftentimes necessary "hound dogging" that must be done.

[the painter]

I was curious is all. My soon to be ex agent is also the broker and she is the one that says it is 2%. I am not going FSBO, not yet anyway. I would think an hourly rate would be better but...the 2% isn't much different than if she acted as a sellers agent or buyers is it?

[Silverfall]

Originally Posted by the painter

I was curious is all. My soon to be ex agent is also the broker and she is the one that says it is 2%. I am not going FSBO, not yet anyway. I would think an hourly rate would be better but...the 2% isn't much different than if she acted as a sellers agent or buyers is it?

Well it might have been different if she hadn't listed your house. Since she has advertising costs that weren't reimbursed then I assume she is trying to make up some of that.

[Brandon Hoffman]

Negative Ghost Rider.

[the painter]

Originally Posted by Silverfall

Well it might have been different if she hadn't listed your house. Since she has advertising costs that weren't reimbursed then I assume she is trying to make up some of that.

I could except that IF she had done any advertising. She put it in the MLS and that is where it ends, not even on any free sites. I asked her to send a release of contract last night and so the search is on once again. I would agree to a 2% to her if she had done all she could to sell this place, it would only be fair.

[Silverfall]

Originally Posted by the painter

I could except that IF she had done any advertising. She put it in the MLS and that is where it ends, not even on any free sites. I asked her to send a release of contract last night and so the search is on once again. I would agree to a 2% to her if she had done all she could to sell this place, it would only be fair.

Ahh....

[MMichelle]

It's getting close to the line. An agent can't charge for the paperwork "only" ... an agent can not "practice law" ... everyone needs to be very careful.