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Old 05-06-2021, 10:22 AM
 
30 posts, read 14,283 times
Reputation: 62

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As hot and crazy as the current real estate market is, I'm considering using a Realtor that only charges 1% commission. At work I meet Realtors several times a day and they all say with the low inventory of available homes, I could realistically except to recieve many offers over list price, many that would waive appraisal and inspections, after holding a open house. My house would sell within a few days.

Has anyone used a 1% commission Realtor recently? Can you let me know your experience and give a recommendation?

Thank you!
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Old 05-06-2021, 10:40 AM
 
107 posts, read 41,446 times
Reputation: 383
After using (mod cut) to sell my home, I wouldn't pick anyone else. Smooth sale all the way around. He's a busy guy and I dealt with his assistant quite a bit by email which was just fine.

I think now sellers simply need a way to get their house on the MLS and for help with documents, HOAs and that sort of thing. Houses on MLS pretty much sell themselves. He'd have the other realtors contact me by text and I'd arrange the time for their clients to see my house. Easy and within days I had multiple offers and was out of the house in no time.

Last edited by Mike from back east; 05-06-2021 at 01:44 PM.. Reason: Cannot recommend realtors in open forums, can by sending a DM.
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Old 05-06-2021, 10:57 AM
 
1,282 posts, read 1,551,070 times
Reputation: 1494
I'm in the process of selling my home and I'm using a 1% percenter. If your home is in good shape it will sell itself.
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Old Yesterday, 09:04 AM
 
901 posts, read 375,645 times
Reputation: 1064
I am not a Realtor but have bought and sold a large number of homes. To me a good Realtor is worth it to help you stay unemotional in evaluating offers, keep the deal together through escrow, and to make things easier for you. If you are a DIYer than sure the 1% is great but if you like others to work for you pay 4 or 5% and get it done right. In this market it's all about getting a multitude of offers as you always want to have a solid back-up in place just in case. Plus more offers helps substantiate the appraisal needs. Offers 2 or 3% to the buyers agent does get you some buyers that you might not get if you do a 1% listing deal. Good luck with sale!
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Old Yesterday, 10:39 AM
 
1,282 posts, read 1,551,070 times
Reputation: 1494
Quote:
Originally Posted by longviewJoe View Post
I am not a Realtor but have bought and sold a large number of homes. To me a good Realtor is worth it to help you stay unemotional in evaluating offers, keep the deal together through escrow, and to make things easier for you. If you are a DIYer than sure the 1% is great but if you like others to work for you pay 4 or 5% and get it done right. In this market it's all about getting a multitude of offers as you always want to have a solid back-up in place just in case. Plus more offers helps substantiate the appraisal needs. Offers 2 or 3% to the buyers agent does get you some buyers that you might not get if you do a 1% listing deal. Good luck with sale!
My 1% Realtor offers 2.5% to buyer's agent. I had plenty of offers. As I said before, if your house is in good shape it'll sell itself in this ultra heated seller's market. Which is the case with my home, as I got well over list on the accepted offer.
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Old Yesterday, 10:47 AM
 
901 posts, read 375,645 times
Reputation: 1064
Quote:
Originally Posted by timothyaw View Post
My 1% Realtor offers 2.5% to buyer's agent. I had plenty of offers. As I said before, if your house is in good shape it'll sell itself in this ultra heated seller's market. Which is the case with my home, as I got well over list on the accepted offer.
That's great. As they say as long as you feel good with the deal it's a good deal! Congrats on your success.
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Old Today, 03:09 PM
 
598 posts, read 454,551 times
Reputation: 648
Lets call it what it is, parasitic, bloodsucking behaviour.

5% is absolute robbery. Agents stick a lockbox on a door and think thats worth a 2.5% split of 5%. Absolutely insane.

In the uk the most i've ever paid is 1.4% (total, though there's only 1 agent there). For that money the all also include a detailed floorplan, and professionally taken photos.

realtors here are an absolute disgrace, and I have yet to be convinced that a single one is worth his money. Do your own homework figure out what you want and get it listed. Especially in a market like this. Anyone who says, ”my realtor was amazing he got me my asking price in 1 day!!” is basically saying their realtor listed it too cheap.
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Old Today, 05:13 PM
 
Location: Lone Mountain Las Vegas NV
17,297 posts, read 7,359,566 times
Reputation: 8184
Quote:
Originally Posted by timothyaw View Post
My 1% Realtor offers 2.5% to buyer's agent. I had plenty of offers. As I said before, if your house is in good shape it'll sell itself in this ultra heated seller's market. Which is the case with my home, as I got well over list on the accepted offer.
Quote:
Originally Posted by hotjambalaya View Post
Lets call it what it is, parasitic, bloodsucking behaviour.

5% is absolute robbery. Agents stick a lockbox on a door and think thats worth a 2.5% split of 5%. Absolutely insane.

In the uk the most i've ever paid is 1.4% (total, though there's only 1 agent there). For that money the all also include a detailed floorplan, and professionally taken photos.

realtors here are an absolute disgrace, and I have yet to be convinced that a single one is worth his money. Do your own homework figure out what you want and get it listed. Especially in a market like this. Anyone who says, ”my realtor was amazing he got me my asking price in 1 day!!” is basically saying their realtor listed it too cheap.
It is a common talk subject in the industry. But it always come back as to how you end up with high skill agents. And even at the present level you often do not. I would suggest half the agents I deal with do not meet an acceptable level of competence. I have had to mainage both sides of way too many deals.

So cut it down to 1 percent to each side. Then see what happens. You end up with nothing but systematic operators who market well and do as little as possible. Then you will have a set of those who can't make a living and screw up even the simplest of deals. To retain those of us who are very competent at doing it well we need 3 or 4 deals a week to make it worth the trouble. It might be possible to work that by requiring much higher education and knowledge and then a 3 or 4 year apprenticeship under a skilled agent.

Want to spend a dull year or two try and get that past the big brokers...
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Old Today, 06:01 PM
 
9,377 posts, read 3,118,786 times
Reputation: 16480
Quote:
Originally Posted by hotjambalaya View Post
Lets call it what it is, parasitic, bloodsucking behaviour.

5% is absolute robbery. Agents stick a lockbox on a door and think thats worth a 2.5% split of 5%. Absolutely insane.

In the uk the most i've ever paid is 1.4% (total, though there's only 1 agent there). For that money the all also include a detailed floorplan, and professionally taken photos.

realtors here are an absolute disgrace, and I have yet to be convinced that a single one is worth his money. Do your own homework figure out what you want and get it listed. Especially in a market like this. Anyone who says, ”my realtor was amazing he got me my asking price in 1 day!!” is basically saying their realtor listed it too cheap.

Don't hold back, hotjambalaya; tell us how your REALLY feel.
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Old Today, 06:08 PM
 
9,377 posts, read 3,118,786 times
Reputation: 16480
I tried a discount realtor about a decade ago. After 60 days, I had only received one extreme low-ball offer with highly unfavorable terms. I terminated my relationship with the discount guy and went with a well-known full-service team that focuses on higher end homes (>$1 million). I had a good offer two days later.

At the time, I suspected full service realtors consciously decide not to show the properties listed by discount realtors.
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