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hi everyone. i was curious about your take on showing a house where an owner has used a flat fee service for their listing. on one hand, i would think a commission is a commission but on the other i would think it would be something realtors wouldnt like.
we had previously sold a house using this service-we had saved 1% by listing the commission at 3% to the selling agent. we had seen that most sellers were gettting commission rates of 4% with a 50/50 split and we were hoping the extra % going to the selling agent-3 %- would be helpful.
we are thinking of trying it again-we realize real estate is a different animal now-we had done it 2 years ago-but thought we would give it a shot. thanks-
hi everyone. i was curious about your take on showing a house where an owner has used a flat fee service for their listing. on one hand, i would think a commission is a commission but on the other i would think it would be something realtors wouldnt like.
we had previously sold a house using this service-we had saved 1% by listing the commission at 3% to the selling agent. we had seen that most sellers were gettting commission rates of 4% with a 50/50 split and we were hoping the extra % going to the selling agent-3 %- would be helpful.
we are thinking of trying it again-we realize real estate is a different animal now-we had done it 2 years ago-but thought we would give it a shot. thanks-
The question is, since you're using a flat fee service, what exactly is your flat fee agent doing on your side of the deal? If they're just throwing it on the MLS and putting up a sign, how experienced are you in all the things that are necessary for a successful (and legal) deal?
That would determine how much extra work the buyer's agent has to do, for whatever commission, to make sure the deal comes to closing, and how enthused they would be to show your house.
That being said, I show my clients all houses that meet their specs and let them decide which ones they want to see. Don't even look at who is listing it until it's time to look at the showing instructions to set up a showing, usually. That's my responsibility as a buyer's agent.
manderly6, it is confusing but the selling agent can be the the buyer agent. The seller's agent is the one that represents the seller. I don't like the term selling agent but it is still used in some parts of the country where sub-agency is still in force. A selling agent can bring in a buyer, but still represent the seller, OR they can be a buyer agent.
Anyway...as long as you offer a competitive buyer agent commission agents will show your listing.
To put in simple terms, money talks and b.s. walks. If any realtors do show up at your house it will be try to get you list your property. Have you watched the program Selling New York? Some of them make over $100,000 for a sale. It is beyond me why they think anyone should pay those fees when many people don't earn that in a year. No matter what you decide, I urge you have a good real estate attorney review your paper work since you are not a licensed realtor. Often, the lawyer will be cheaper (gasp) than the realtor. Best wishes.
The question is, since you're using a flat fee service, what exactly is your flat fee agent doing on your side of the deal? If they're just throwing it on the MLS and putting up a sign, how experienced are you in all the things that are necessary for a successful (and legal) deal?
That would determine how much extra work the buyer's agent has to do, for whatever commission, to make sure the deal comes to closing, and how enthused they would be to show your house.
That being said, I show my clients all houses that meet their specs and let them decide which ones they want to see. Don't even look at who is listing it until it's time to look at the showing instructions to set up a showing, usually. That's my responsibility as a buyer's agent.
-the only experience we have has been selling 3 houses and purchasing 4 houses on our own-we are not realtors-
-flat fee only gets you on mls-i provided my own pictures, description, etc-
-i set my own appointments from the calls received
-to make sure it is without as much trouble as can prevented we hire a real estate attorney who we have trusted to use in the past-
The buyers agent is usually the selling agent, so you guys are both referring to the same person with those two terms.
So I'm assuming then there is a world of difference between saying selling agent and seller's agent?
Sorry to go off on a tangent.
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