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Remember that if the deal doesn't close, the agent is paid nothing. Are you willing to do your current job with that potential risk ?? Do you have the resources to market the home to the most potential clients ?? Do you have time to show a home to potential buyers at a moment's notice ??
There is a lot involved that the seller/buyer never sees that is handled by the Realtor. Some folks utilize services by a Real Estate attorney. They very rarely discount their fees out of the kindness of their heart.
there are a variety of representation/listing models available. They are distinguished by their cost to the Seller, and by the activities performed for the Seller. If someone is bottom line - "What's the commission?" - and that's their primary choice, then they should seek the lowest cost. That is either FSBO or an entry-only MLS listing, which runs from $99 to $1,000.
If you're a Seller and your are bottom line - "what $ amount will I walk away with?", then you should talk to a variety of agents to see their expertise, abilities, value, and commission rate.
How did you find the house and how did you view the house? Were there any Realtor's involved in finding the property for you?
Hope there aren't any disclosure or other legal issues on either side.
Somebody who knew the seller told me that he was shopping around for a realtor. I went and asked to view the house, crammed full of boxes, and made an offer before he signed with any realtor. He told me that the realtors wanted him to move stuff out ASAP so that they could stage and show it. Thus, the benefit to him was a chance to move out slowly knowing that he had a buyer lined up. I gave him a check for several thousand $ to prove that I was serious in going through with the purchase.
I hired an inspector to check things out and the seller made ALL the changes suggested by the inspector. I didn't require any of them, but the seller is one of those guys who wants to make everything right. There were a couple of disclosures that he told me about, but I already knew three of his neighbors and they were also aware of those; e.g., private wells and not on city water. I am paying to have the house connected to the city water line (curb boxes already in place). Radon was another disclosure, but he had the inspection report from several years ago and radon levels are below the concern point.
Why would any seller forgo the use of an agent just to give you that reduced price, it makes absolutely zero sense? Now if you said the seller and I are good friends and we decided to split what the commission would be I’d buy that, but not your scenario. I guess maybe he could of priced it at a point where no one would pay it anytime soon so he took you up on your offer? I’m not saying your story isn’t true, but there has to be more to it.
Besides that, most people aren’t moving their stuff out and hiring staging companies to sell their house, HGTV isn’t the real word. I do get the benefit of not having any showings though, but I’d still rather go through that and have the agent deal with everything along the way than to deal with it myself and give you the money. Also, I’m not sure why moving his stuff out slowly over a month would be any different than any other 30 day escrow?
Lets look at the truth as to how Real Estate Agents are are getting rich selling real estate at 6% commission. Current information, as of last full year 2018, and was compiled by NAR.
Median income first 2 years in the business is $9,300 per year before expenses, which can eat 1/3rd of that.
Median income for all Realtors was $41,800.
Median income with 16 years or more in the business was $71,000-down from $78,800 in 2017. Fourteen percent of members had at least one personal assistant. This is the group that had one, as they could afford one, and was the key for their higher earnings. After paying their assistants, and paying all expenses, figure their true net income is less than $50,000.
Median expenses $4,600, and will be much higher for higher income agents.
Typical Realtor is 54 year Old White Female, college graduate, married to a successful man, homeowner, and is 67% of all agents are women.
Men make up only 37% of agents, as men have been fleeing the business, as they cannot support a family selling real estate.
Men are the vast majority of agents selling commercial and investment real estate, farms, ranches, large land sales, leaving only a smaller percentage selling homes as residences.
People like the OP and many others think Realtors are getting rich selling real estate at 6% commission but they are wrong.
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