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Interested in any feedback on discount and flat fee real estate firms servicing the Wake Forest area. There seem to be several of them and I have visited their websites to investigate their pricing and packages. I don't mind paying a reasonable commission (2.4-3%) to the buyer's agent but paying 3% to the listing agent seems unreasonably high. Very interested in anyone's experiences, good or bad, and recommendations for the flat fee/discount realtors as I am looking to list my house sometime in the next 60 days. Thanks!
Actually, you do not need to go with a discount service company or flat fee company to get lower fees. You are lucky that you live in an area where there is a FULL SERVICE company that charges 3.9%. 2.4% to the buyers agent and 1.5% for himself. They make money by volume. You see their signs EVERYWHERE up there. If you use them to buy AND sell, then they drop it to 3.4%.
I cannot recommend a real estate agent or company, so just do a little google digging for the 3.9% full service company in your area and disregard anything that says discount or flat fee. Real estate agent fees are negotiable and no one has to pay 5% or 6%, as long as they can find a quality company to do it for less.
We used Click-It Realty and I would NOT NOT NOT EVER use them again. I failed to send our closing certificate to them within 24 hours and I was fined $200. And then the owner of the company aggressively threatened me with repeated phone calls and emails (I had filed a charge back on the credit card as I didn't know what the charge was when he billed me with no warning - and then reversed the charge back but his "bank" had a hard time figuring out how to collect the funds.)
So anyway - very unpleasant experience. Use any other company.
We used Click-It Realty and I would NOT NOT NOT EVER use them again. I failed to send our closing certificate to them within 24 hours and I was fined $200. And then the owner of the company aggressively threatened me with repeated phone calls and emails (I had filed a charge back on the credit card as I didn't know what the charge was when he billed me with no warning - and then reversed the charge back but his "bank" had a hard time figuring out how to collect the funds.)
So anyway - very unpleasant experience. Use any other company.
Yikes. Was the "fine" outlined in your listing agreement?
Location: Sodo Sopa at The Villas above Kenny' s House.
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Quote:
Originally Posted by DJKB
We used Click-It Realty and I would NOT NOT NOT EVER use them again. I failed to send our closing certificate to them within 24 hours and I was fined $200. And then the owner of the company aggressively threatened me with repeated phone calls and emails (I had filed a charge back on the credit card as I didn't know what the charge was when he billed me with no warning - and then reversed the charge back but his "bank" had a hard time figuring out how to collect the funds.)
So anyway - very unpleasant experience. Use any other company.
I'm sorry but if the 24 hour rule was written on anything signed then it's you that's at fault. Then to stop payment on something without investigating first,which created processing delay for the recipient also backs up my asertation.
We used a flat-fee company when we sold our home in New Jersey, 5 years ago, to move here. I offered 2.5% to the buyer's agent. It worked very well, we saved thousands of dollars. We did have to do more of the work as far as researching appropriate pricing, hosting our own open house, doing our own marketing, and negotiating price and closing details, but for the amount we saved, it was definitely worth it to me. I did have some familiarity with the process, having worked as a mortgage underwriter for many years. We also still hired an attorney, which was a typical practice/ expense in that area.
We got a professional-looking yard sign, with a toll-free number. Callers could choose to listen to a description of the property or press a button and be forwarded directly to my cell phone. We got a lot of calls from Realtors referring clients. We rented an electronic lockbox for an additional fee so that we didn't have to be home hovering over the would-be buyers when they viewed the property. If a buyer was not using a local Realtor (and so wouldn't be able to access the lockbox) my husband was the one who stayed and showed the property and the kids and I cleared out. That actually only happened twice. We made up fliers ourselves for people to grab at the curb. I also posted them all over the place, in supermarkets, library, train station, etc.
The company we used provided everything that they said they would, and nothing more. I asked a question early in the process and was told rather rudely to read the terms of the agreement, which I had already done. My question required some clarification of what I'd read. So, I would say customer service was rather lacking, but they still provided a good product and I saved about $9000, even after our out-of-pocket expenses, so I was able to get over it.
Oh, they also sent a photographer who arrived 2 hours late (Jersey traffic was heavy at rush hour, go figure) and it was almost dark. She couldn't figure out how to use the flash on her cheapo camera. She took about 10 minutes total to take photos of the whole interior and exterior. They looked like crap, grainy and dark. I asked if we could use our own photos for uploading to MLS, and was told yes. So, we did. I don't have a fancy camera either, but I did have a vested interest in making sure I had decent shots, so I spent a few hours taking about 20 pictures of each room in daytime lighting, and then choosing the ones that looked best for use on the websites.
I see from their website that this company also operates in NC. It was mls2u.com. We got the 6-month package that used max # of photos. We didn't buy any of the extras.
The OP is talking about controlling costs and getting a return. Expenses should bring value. Unnecessary expenses should be controlled by a smart agent, or passed on to the seller.
You are right about the floor plan. A licensed appraiser will turn out a fine one for $100. I gladly pay that because it also removes SF liability from me.
Professional photos are usually an unnecessary expense for a seller. No one has ever been able to tell me how much more one of my listings would sell for, or how much quicker, if a seller paid a pro to shoot the photos. And, too many pros understand lighting, but know nothing about houses. It shows, when their beautiful photos tell you very little.
Professional photos are a tool for listing agents to impress sellers, not for selling houses at increased prices.
More often than not, fad staging is an unnecessary expense for a seller. But, if a seller wants staging, they should have the option to spend that money. I know several good stagers, and can refer them.
Contractors and handymen database is free.
Planning for best price is the province of a good real estate agent. Cutting through fluff is one of the skills an agent should bring.
Actually, you do not need to go with a discount service company or flat fee company to get lower fees. You are lucky that you live in an area where there is a FULL SERVICE company that charges 3.9%. 2.4% to the buyers agent and 1.5% for himself. They make money by volume. You see their signs EVERYWHERE up there. If you use them to buy AND sell, then they drop it to 3.4%.
I cannot recommend a real estate agent or company, so just do a little google digging for the 3.9% full service company in your area and disregard anything that says discount or flat fee. Real estate agent fees are negotiable and no one has to pay 5% or 6%, as long as they can find a quality company to do it for less.
What is the standard buyers agent commission here for a flat fee listing company? 3.9% sounds very competitive to have a licensed person represent your home instead of doing it yourself. Can you PM me this broker? I know you can't post on here but I am interested in using them.
What is the standard buyers agent commission here for a flat fee listing company? 3.9% sounds very competitive to have a licensed person represent your home instead of doing it yourself. Can you PM me this broker? I know you can't post on here but I am interested in using them.
I just sent you the info. The guy is the hardest working realtor I have ever met. Great marketing as well. He simply makes money by doing more deals than other realtors. He is that good. Real down to earth, too.
You generally get what you pay for. If an agent is taking less, then they are cutting costs somewhere. Granted though, if they are independent brokers with no franchise fee or splits with someone above them, then that certainly helps.
I do question the "volume seller" thing though... if someone is doing that many deals that they can afford to charge less, then they simply will not have much time for each individual client. The whole selling process from an agents end is a lot more time consuming and costly then 99% of people think.
I wish you the best of luck, hopefully this guy the moderator recommended is as good as he claims.
You generally get what you pay for. If an agent is taking less, then they are cutting costs somewhere. Granted though, if they are independent brokers with no franchise fee or splits with someone above them, then that certainly helps.
I do question the "volume seller" thing though... if someone is doing that many deals that they can afford to charge less, then they simply will not have much time for each individual client. The whole selling process from an agents end is a lot more time consuming and costly then 99% of people think.
I wish you the best of luck, hopefully this guy the moderator recommended is as good as he claims.
Oh, he is. There is no franchise fee or splits that are negative to him. He does employ other realtors who help people BUY homes, in which the full buyer's agent commission comes in, to be split between him and his realtor.
The 6% figure is just what the RA has decided they can get away with as an average. Way too many people just assume that is what they have to pay. Just like you will have to negotiate the price on the house, you should negotiate the realtor fee. It is not rocket science, with very few scientists. There are thousands of agents....most underqualified....many adequate....and some superb. I know of one superb one in this form and another superb one outside of this forum. I would highly recommend both of them, but I only know of one doing business this way......and it works.
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