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.
Yes but unfortunately you can't. Besides there is a lot more to it than just "putting your house on the MLS". Even entering a listing on the MLS is a lot more complicated than you may think.
No its not. I was a realtor before I became an investor instead. Putting a house on RMLS is a simple transaction. With all due respect maybe you should get some more training.
If you didn't advertise that you would pay a commission to a Realtor, then you don't need to pay the commission. Your option is to tell the buyer, since he hired the Realtor, that they would have to pay the Realtor's commission.
Nicki
surely the agent must have discussed this with the buyer. There are laws taht state if the seller agrees, and if the realtor causes performance (is the reason the house sells) then the realtor gets a commission. But you did not sign any agreements. Your OK.
Misleading...pretty much propaganda. Not corrected for the value of the house. May actually be a few points better but not enough that NAR is willing to risk finding out. If it costs 5 and saved 4 would we publish the numbers? I don't think so...
I also have never seen a number higher than 16% quoted. So we have now doubled the unbelievable.
You know, maybe we need a National Association of FSBOS, then we could say that things like, 89 percent save an average of 18,000 in Realtor commissions. (just made the number up, don't attack me).
I'm NOT a realtor. I'm a homeowner that has been trying to sell for 3 months. I have gone the "discount brokerage" route - I've paid 1,000 up front, and will pay 4% commission if a buyer who buys it is represented by a realtor.. if not, I don't pay a commission.
This is the first time I've sold a house, and was trying to save some $$ by not paying the 6%. I wish I would have gotten a full service realtor with the market the way it is now. It is saturated with houses, and the only good traffic you will get is through a realtor. If I had it to do all over, I would leave the selling to the professionals, and pay them for the job they are doing... getting people through the home. I don't care how hard you try, and how much you think you can do it "just as good"... if you aren't a realtor and don't use a full service realtor, you're going to "get what you paid for", and in my case it is a house still sitting.
I might feel differently should the market improve, or was trying to sell in a better market, but with the things the way they are use the realtor!!!!
You offered 4 percent fee to the buyer Agent? Something was wrong. On average, they get 2.25 to 3 percent. Your house would have been known to every realtor in town and shown 4 to five times a day. realtors would be pitching tents in your yard. What state and city are we talking about. I don't doubt your word, I am just interested to know what area in the nation could be that bad.
You offered 4 percent fee to the buyer Agent? Something was wrong. On average, they get 2.25 to 3 percent. Your house would have been known to every realtor in town and shown 4 to five times a day. realtors would be pitching tents in your yard. What state and city are we talking about. I don't doubt your word, I am just interested to know what area in the nation could be that bad.
RE is local.
3% here is standard. Even the banks have pretty much gone to it on foreclosures.
However 4% would not be unusual. I doubt you would see much if any increase in activity. You got a buyer you want to find them the right house quick.
One local Pulte Tract just went to 6% for a while.
Ever worry about whether you can take 4% or 6% without your clients permission? Remember that ugly word "fiduciary" .
Is it really in your clients best interest to get you an extra 3% that you could pass to them?
3% here is standard. Even the banks have pretty much gone to it on foreclosures.
However 4% would not be unusual. I doubt you would see much if any increase in activity. You got a buyer you want to find them the right house quick.
One local Pulte Tract just went to 6% for a while.
Ever worry about whether you can take 4% or 6% without your clients permission? Remember that ugly word "fiduciary" .
Is it really in your clients best interest to get you an extra 3% that you could pass to them?
Yeah, get a little suspicious when your realtor trys very hard to take you to a builder. 6 percent....that would lead even the most honest of us to corruption. The heck with the buyers interest, baby needs new shoes.
If you had a Buyer Agency Agreement signed, and you were paid more than you had agreed to in the BAA, then I pay the buyer the difference at closing (including gifts and incentives; like a bottle of wine or a $500 gas card.)
You should see the look on the buyers face when you give them a $12,000 check at closing. They may remember when they signed the BAA I said, "Now anything over the amount here will be given to you at closing." But they don't believe I'll do it, until it is done.
I never mention it to them during the deal. I do not want to influence their decision on whether to proceed or not based on the money they will get back at closing.
If you had a Buyer Agency Agreement signed, and you were paid more than you had agreed to in the BAA, then I pay the buyer the difference at closing (including gifts and incentives; like a bottle of wine or a $500 gas card.)
You should see the look on the buyers face when you give them a $12,000 check at closing. They may remember when they signed the BAA I said, "Now anything over the amount here will be given to you at closing." But they don't believe I'll do it, until it is done.
I never mention it to them during the deal. I do not want to influence their decision on whether to proceed or not based on the money they will get back at closing.
There are also buyers broker agreement that blanket agree that anything you get is yours...had a wonderful example that was a NC standard form.
Just thought I'd just finish this thread off, if that ever happens...
I have signed off on a great offer, full asking price, cash deal, no banks to deal with, no appraisers, nothing like that. It's really remarkable. His lawyer, my lawyer are both really happy, as are the buyer and I. We're closing by the end of this month, and I'm off to my new job far away....
Perhaps I'm just lucky, I don't know. But I appreciate everyone's advice and input along the way....
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.
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.
signed contract today
