commission (6%, negotiations, agent, commissions)

[michael11747]

is 6% too much commission for a multifamily worth 475k? realtor won't even negotiate. you'd think that in this day and age, they would at least talk with you.

[chet everett]

No other real estate agents interested in the listing?

[michael11747]

this is the first one. i am meeting a few tomorrow.

[Brandon Hoffman]

Originally Posted by michael11747

is 6% too much commission for a multifamily worth 475k? realtor won't even negotiate. you'd think that in this day and age, they would at least talk with you.

Why? If anything the transaction will be more difficult. And to boot it's gotten more expensive to be in real estate.

[Beena]

Capt Bill just explained to me why 6% commission is necessary. It made no sense whatsoever, so I will go ahead and have him explain it to you.

[michael11747]

what? who is capt bill? i have never forked over 6% to an agent, and i have done business as early as last june. he is crazy if he thinks i can't list this myself. i take care of most of the transaction, and i have documents already drawn up, he does almost nothing except show the place.

he talked my ear off about the "education" i was going to get from him. sounded like desperation to me. ok buddy, let me give you 28500 for listing my property. i ALWAYS end up doing most of the work as it is when it comes to using an agent. anyone else have similar experiences?

[Bill Keegan]

Originally Posted by michael11747

what? who is capt bill? i have never forked over 6% to an agent, and i have done business as early as last june. he is crazy if he thinks i can't list this myself. i take care of most of the transaction, and i have documents already drawn up, he does almost nothing except show the place.

he talked my ear off about the "education" i was going to get from him. sounded like desperation to me. ok buddy, let me give you 28500 for listing my property. i ALWAYS end up doing most of the work as it is when it comes to using an agent. anyone else have similar experiences?

I'm not sure of your question. The guy you talked to was offering, and expected to be paid for, something you feel you don't need, and therefore don't want to pay for. That's his right, his business. As it's yours to say thanks but I don't need what you're selling. So, you'll find one who does what you need at a price you feel is fair to pay. It's just not that guy. What else do you need to know?

[olecapt]

Lemme try it this way...

If I want to sell a place for near a half million in this market place I first off wish to assure that the buyers agent gets 3%. That is so the buyers agent is motivated to bring their client to look. I am sure they would also bring the client at 2.5% but they might put this listing down at the bottom of the stack. I would rather be up the stack a ways.

They might also be complete straight shooters who never look at commissions until the deal is done. But I don't want to count on it.

So we are really discussing what I get paid. Now it comes down to how hard is it? Priced to sell immediately? You made me do that so I can sell it next week? I will take a 1/2% off...gladly.

Ahhh but you want full value? Shoot...You mean I may have to work a lot? Spend money advertising? Get the web site up? Hold an open house? Start beating the bushes for someone dumb enough to overpay for your place?

Maybe I ought to get 7%...you think?

Truth lies somewhere in between mostly.

I really hate working six months trying to sell a property and fail. Costs me and my client. But then the client says you did not do a good job...which is somewhat true...and goes off and hires someone else to sell it. I crawl into the backroom and lick my wounds.

[Marty Van Diest]

Originally Posted by michael11747

is 6% too much commission for a multifamily worth 475k? realtor won't even negotiate. you'd think that in this day and age, they would at least talk with you.

Commissions are negotiable. Period. There could be a lot of good reasons why this agent doesn't want to negotiate.

If this agent doesn't want to come down, that's his option. You have your own options.

It's a free country...so far.

[michael11747]

it is priced to sell, and realtors around here don't work that hard. i have a blacklist of dead beats which i share with my colleagues and likewise. i honestly don't mind paying 6%, but when someone tells me there is no negotiations, i can't take them seriously.

if on the other hand, this guy were to do what the previous poster mentioned, i would gladly pay him 6%. i guess i just posted this question because i have never run into a non-negotiable term in real estate.