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Old 09-06-2019, 09:23 AM
 
867 posts, read 566,331 times
Reputation: 339

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I'm in the process to put my first home on the market and my realtor is the same one who got us the house. She is going to charge us 2% commission fee and 3% will go to the buyer's realtor. Is this common? Regarding the Seller's Disclosure form, how detailed do I need to be with things that are either broken or need fixing in the house? For example, one of my bath faucet is sticky. Do I need to fix it or note it on the disclosure?

Is there anything else major I should be aware of when selling a house? Thank you.
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Old 09-06-2019, 09:38 AM
 
Location: The Triad (NC)
28,944 posts, read 63,120,597 times
Reputation: 33056
Quote:
Originally Posted by Surfertx View Post
She is going to charge us 2% commission fee and 3% will go to the buyer's realtor...
It sounds like a statement was convoluted and made confusing.
Rather certainly... YOU will be paying the whole 5%. How that gets split is the agents concern.


Quote:
Is there anything else major I should be aware of when selling a house?
Your 2% agent should be handling these petty questions better.
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Old 09-06-2019, 09:44 AM
 
867 posts, read 566,331 times
Reputation: 339
Quote:
Originally Posted by MrRational View Post
It sounds like a statement was convoluted and made confusing.
Rather certainly... YOU will be paying the whole 5%. How that gets split is the agents concern.



Your 2% agent should be handling these petty questions better.
Yeah sorry about that. Is 2% commission to my agent standard?
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Old 09-06-2019, 09:53 AM
 
2,644 posts, read 5,387,248 times
Reputation: 5334
Quote:
Originally Posted by Surfertx View Post
Yeah sorry about that. Is 2% commission to my agent standard?
These days it is not uncommon. If the realtor offered it without even asking then maybe you should ask for another point or half point.

If the 2% is what the agent usually gets then he should work as hard as he usually does.

On the disclosure-

(1) answer the question. Answer the exact question. Tell the truth, the whole truth, and not more than the whole truth.

(2) if a fix is obviously needed, not too expensive or difficult, and likely to be prominent in the mind of the buyer, then fix now.

(3) Few buyers will ever discover a faucet is sticky before purchase. Most will not care a whit.
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Old 09-06-2019, 09:57 AM
 
867 posts, read 566,331 times
Reputation: 339
Quote:
Originally Posted by rational1 View Post
These days it is not uncommon. If the realtor offered it without even asking then maybe you should ask for another point or half point.

If the 2% is what the agent usually gets then he should work as hard as he usually does.

On the disclosure-

(1) answer the question. Answer the exact question. Tell the truth, the whole truth, and not more than the whole truth.

(2) if a fix is obviously needed, not too expensive or difficult, and likely to be prominent in the mind of the buyer, then fix now.

(3) Few buyers will ever discover a faucet is sticky before purchase. Most will not care a whit.
Thanks! I definitely will be truthful, I want who ever buys my house to be a happy home buyer
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Old 09-06-2019, 11:46 AM
 
Location: Rochester, WA
6,187 posts, read 3,446,527 times
Reputation: 16797
Commission percentages vary quite a bit by market and antitrust laws and our industry discourage us from saying there is any “standard” rate but I will say as an agent who prefers to work with buyers, I appreciate listing agents who see the value in giving fair compensation share to the buyer side of the transaction. As a seller I would see this as a good sign for you that she would like to give you the best price while attracting the most good buyers.

As far as the disclosures... as said above, answer every single question and answer it truthfully and completely and don’t skip any. If you’re not sure ask your realtor exactly what you should say on any particular issue.
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Old Today, 12:34 PM
 
Location: El paso,tx
2,346 posts, read 884,807 times
Reputation: 3760
One benefit of disclosing, is it makes your chance of not having itvrequested to be repaired, higher, since they knew about it before offer. (Assuming your agent puts it as attachment in mls, or sends disclosure to buyers agent when they say they are writing offer, or you leave copies on counter for showings).
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Old Today, 01:44 PM
 
Location: Florida -
8,865 posts, read 11,022,382 times
Reputation: 17047
... So is your realtor saying that if a buyer doesn't have their own agent (or comes through HelpUSell or other service), your realtor will handle the sale for 2-percent? (or will they then consider themselves to be both the seller and buyer agent ... and collect the entire 5-percent?) IMO, they are playing 'pea and shell games' with the commission terms question.

Just a few thoughts: You should also probably determine the amount of your closing costs -- and decide how much of a concession on price and other issues you are prepared to make. Also, do you have some obvious items needing repairs (that will come-up in the buyer's inspection) ... and how are you prepared to handle those? How long of an 'exclusive' period are you willing to agree to -- and do you have an 'out' if you are dissatisfied with your realtor? What are you including with the sale? (appliances, furniture items, other?); Do you have anyone who has expressed an interest in your home, that you want to include as a commission exception?
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