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We were considering possibly trying to sell to "move up" for a few reasons. We can stay where we are, but it was just a thought.
Anyway, after we did the math, it didn't make sense. One thing that really discouraged us was the realtor listing fee.
If you're selling a house for, let's say, $800,000, why should a realtor in NJ get 5-6% of that when the same house in a cheaper state would be $400,000?
We came to the conclusion that the "move up" market is dead in NJ.
Years ago, I thought the 6% fee was fair compared to the selling prices of houses. I don't now. The home values have gone down so much, but I don't hear any realtors lowering their listing fees to help. I really think some people would sell their homes through a real estate office, if the listing fee was lowered.
Years ago, I thought the 6% fee was fair compared to the selling prices of houses. I don't now. The home values have gone down so much, but I don't hear any realtors lowering their listing fees to help. I really think some people would sell their homes through a real estate office, if the listing fee was lowered.
Sellers should negotiate a lower listing price.
I guess you could try to negotiate a lower fee. It is interesting though that there hasn't been a lot of downward pressure on listing fees considering the market.
I guess the brokers aren't motivated to lower the fee. It just means they have less agents working for them now (I assume?)
my wife watches that selling manhattan show and sometimes i see some of the shows with her. it seems that when you have very expensive homes to sell, you get realtors that wear fancy suits and throw cocktail parties in the homes they are trying to sell. its much more fancy and civilized.
i was thinking 10 years in my current home but maybe ill stick it out here until im retired. i like it here.
Thinking about coughing up that much cash to a realtor made me like my current house a lot more.
Years ago, I thought the 6% fee was fair compared to the selling prices of houses. I don't now. The home values have gone down so much, but I don't hear any realtors lowering their listing fees to help. I really think some people would sell their homes through a real estate office, if the listing fee was lowered.
Sellers should negotiate a lower listing price.
The lower sales prices by default lower the commission the realtors make.
We were considering possibly trying to sell to "move up" for a few reasons. We can stay where we are, but it was just a thought.
Anyway, after we did the math, it didn't make sense. One thing that really discouraged us was the realtor listing fee.
If you're selling a house for, let's say, $800,000, why should a realtor in NJ get 5-6% of that when the same house in a cheaper state would be $400,000?
We came to the conclusion that the "move up" market is dead in NJ.
Six percent is standard in most states. I paid 6% on sales in two US states.
You can try negotiating a lower commission, using an Assist-to-Sell type service, or just hiring someone to write the sales contract while you sell it yourself.
The lower sales prices by default lower the commission the realtors make.
True, but I'm not talking about five years ago. I'm talking about 20 or more years when the homes were a lot cheaper. I know of someone that paid $55K and the sellers paid 6% to the selling agent. That same house was "lowered" in value today to $275K and if listed with a realtor, the listing fee would still be 6% (unless negotiated). 6% is too high.
Thinking about coughing up that much cash to a realtor made me like my current house a lot more.
yeah, my apartment i sold to move to nj was real cheap so i didnt give it much thought. i think the fee was 4%. it will probably become more of a factor when i sell my current house. but i really like it here and i dont want a very big house. the only improvement id want would be a large private yard. i guess it also depends on how you did on the house and whats your next step. one lady who owned a house i made an offer on wanted to move to manhattan from there. she had this amount of money determined that she needed for a place in manhattan, and used that as a reason why should couldnt move down on her price. as if im going to pay her more based on her need for the additional money.
yeah, my apartment i sold to move to nj was real cheap so i didnt give it much thought. i think the fee was 4%. it will probably become more of a factor when i sell my current house. but i really like it here and i dont want a very big house. the only improvement id want would be a large private yard. i guess it also depends on how you did on the house and whats your next step. one lady who owned a house i made an offer on wanted to move to manhattan from there. she had this amount of money determined that she needed for a place in manhattan, and used that as a reason why should couldnt move down on her price. as if im going to pay her more based on her need for the additional money.
That's what we want, a better yard/lot. I think we could sell our current house for what we bought it for, but it's the realtor fee that is killing the plan.
So what do the people who thing the rate is too high think it should be?
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