U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Orlando
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-06-2007, 09:29 AM
 
Location: Central Florida
442 posts, read 2,811,324 times
Reputation: 220

Advertisements

anyone that has their house on the market right now, what is your raltor commision rate?
i have heard Crazy like 8% and then i have heard %5 ? we have'nt put our house up yet but i would just like to know before we do
thanks
Rate this post positively Reply With Quote Quick reply to this message

 
Old 02-06-2007, 09:34 AM
 
1,418 posts, read 9,804,454 times
Reputation: 933
If you shop around, you will find people to list your house and offer a cooperating brokerage commission for a total of 5%. Threre are even realtors out there that will put your house on the mls for just a flat fee, but you will still have to pay 2-3% to the broker that brings you the buyer.

FWIW, 6% is about average. For 8%, I'd expect the Broker not only sell my house, but buy me a new $15,000 motorcycle as a referal gift.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 09:37 AM
 
Location: Central Florida
442 posts, read 2,811,324 times
Reputation: 220
I know , when i heard %8 i about fell on the floor , but apprently thats what one of them charge over this way
I see that places like assist to sell charge a nominal fee , but i heard they don't do much work for you
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 09:47 AM
 
670 posts, read 1,627,611 times
Reputation: 270
6% is standard. If you list it yourself and offer buyers agent/cooperating broker a 3% commision it will work also (it amounts to the same money for the buyers agent)
The 8% and 10% commisions did exist and were paid by builders(Lennar KB etc)
By the way the 3% commision (and you list it yourself) is the way to go.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 10:16 AM
 
Location: Central Florida
442 posts, read 2,811,324 times
Reputation: 220
so i put my house up for sale "BY OWNER' who actually gets the 3%/...Im sorry im not realestate savy , and want to know a little before i jump in!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 10:24 AM
 
1,418 posts, read 9,804,454 times
Reputation: 933
The places that charge a nominal fee don't do much for you, and they really aren't for people who are inexperienced at selling and buying houses. Personally, I think they're great, but I don't need much help buying/selling houses - just space on the MLS.

If you are not experienced in buying/selling houses, and don't want to pay a real estate lawyer $250-300/hour to teach you the ropes every step of the way, then you are much better off using a reasonable full service real estate broker. But, if you are going to invest in real estate on some regular basis, other than your home, you would be best served to pay what you need to to learn the ropes.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 11:12 AM
 
Location: Lakeland, FL
523 posts, read 2,723,374 times
Reputation: 188
I found that when you try to sell yourself people think you will eat the 7 percent if they buy your house. or they wanted us to hold mortgage, I actually had young couple ask me to up the price by 20,000 and give it to them in closing. Then I had people ask me what is my bottom line, I started our bottom line. Another problem I had was they wanted me to pay 3-6 % to their realtor. I had to laugh. Nver again will try for sale by owner. or try myself.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 01:57 PM
 
1,418 posts, read 9,804,454 times
Reputation: 933
Quote:
My experience found that for sale by owner dont work.
I've sold 3 houses "by owner". Each sold within 2-3 months and went smoothly. I priced the houses right, showed the houses, and weeded out the flakey buyers. Factor in 3% comission to the price, but if you get someone not using a broker be prepared to share the saving. You need to know how to do the contract and who to use for closing before you get started. This is not for the inexperienced.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 02:09 PM
 
670 posts, read 1,627,611 times
Reputation: 270
This is an important topic and I don't want to say something that harms another person. Therefore, first thing first, if you don't feel comfortable doing it alone, then don't. However, as a person that has held a real esate license, I may be able to give some insight. If you give an agent a 6% commision to list your property in the MLSA, what do you get for the 6%?
3% goes to the agent who brings in the actual buyer. (unless the listing agent finds the buyer, which is normally not the case) For his 3% (agent gets less as a split occurs with his office) the agent advices you on setting a selling price, negotiates with buyers, walks you through the closing and most importantly puts your property in the MLS.
If, repeat, IF, you feel comfortable doing the first 3 above, then paying 6% makes no sense. If you pay a flat fee realty $250 to list it in the MLS and offer 3% then you give yourself a chance to sell it yourself and get exposure in the MLS.
Best of both worlds.
Hope this has been of help.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-06-2007, 05:19 PM
 
670 posts, read 1,627,611 times
Reputation: 270
Yes, you're missing something. I mean a flat fee MLS listing. Costs about $250-$300 to get listed. That is all they do. Moderator cut: cut I have no personal experience with them. It really boils down to how comfortable you feel doing the work yourself. Can't really advise you other than that.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Orlando
View detailed profiles of:

All times are GMT -6.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top