Discussion in 'General Home Improvement Discussion' started by karsan, Nov 30, 2006.
how can I save money on what I pay my realtor?
Some realtors will discount their price. Some realtors are the discount type. Some offer less services that cost less overall.
Welcome to the Forum, Karsan:
Check with the local law officials first, to see what is legal.
Some folks list their homes themselves and welcome Realtor interest at their own rate. Some make a deal with the Realtor in the begining for a lower rate of pay. If the house is priced right and there is a lot of interest, the Realtor knows he can turn a quick buck and may be glad to get 1-1/2% on the sale.
If they have to advertise the home, conduct open house, and have to show it more than 3 times they want the full rate; in some cases, up to 10% of the sale price. The key to a real estate sale is, if your home sells, it creates at least 4 more sales so, they don't have to make all their commission off you.
well, you can always ask them to take a lower fee. Im sure with the soft market, less is better than none. Or you can try FSBO services like www.forsalebyowner.com.
I checked out for site, really cool. I didnt even really think of this before.
yeah, its pretty cool. I mean what does a realtor cost? 6%
1 out of every $20 of your home price going to them? No thanks.
Well I appreciate the info.
no problem. Good luck with it.
there are home for sale signs that you can buy at wal mart. it has a cd that comes with it and it has a web site so you can post your house on the web for more exposure.
Selling of my home was done by www.sellhousefastcash.co.uk
You can also contact them. I would like to tell some of the benefits of this site:
1) Sell home within 28 days
2) Pay your completion cost
3) No estate agent fees
4) No survey fees
5) No legal fees (legal fees covered up to £500)
6) No hidden charges
Go for it on the FSBO system... I have purchased and sold 3 homes this way and never had a problem. Once you have a willing Buyer and have the details worked out, simply ask for the advice of your local Mortgage Loan Officer. They are very knowledgeable and helpful with the details. Just Ask For Their Advice! They know what type of inspections and all the forms needed in your area to complete the sale.
Anyone can buy or sell without a Realtor ~ you simply ask for needed information and you will learn how to do it.
another one is http://www.FSBO.com
With the Internet now adays why even have a Realtor? Unless you don't have the time I agree with everyone else, waste of $$$$!
I know how you feel but if you get the right salesperson, it can be an advantage. The difficulty is finding the right one. Most salespeople are inexperienced and were trained during the "real estate boom" era where you didn't have to really work to sell a home. All they had to do was list it and let the others do the work. Or... there were so many buyers that they were scrambling to buy anything-- all you needed was an order taker. Of course, the ranks are thinning. Now, when times are difficult, if you find the right salesperson, they will better be able to market your home as well as work with/on the buyer(s) to actually make a sale. As a FSBO, it is more difficult for you to become activly involved with the personalities, legal and financial aspects of a sale to make it happen. It is also unlikely that you will be able to easily recognize real buyers and may waste time on these "tire kickers".
As a FBSO, you will be less likely to be exposed to all the buyers out there -- and there are people that are changing jobs and moving to new areas that use real estate salespeople because they are essentially free to them. Some salespeople/brokers will absolutely not work with FSBOs even if you will pay the commission.
Lastly, people think they are saving the commission by selling it themselves. This is a very indeterminate thing because nobody knows what a house is worth(net) until it sells and then you need to include all the conditions of the sale to determine what you actually got for the house. Some people shop FSBOs because they think the price will be less or they will force it to be less. Time is money too because the moment you decide to sell the house, every payment you make toward the mortgage and taxes will probably be unrecoverable from the final selling price. Every day that goes by may mean another repair to the house. The longer it's on the market, the lower the selling price(or the offer you will accept).
I sold real estate at one time and have sold homes FSBO. As long as you know what you are up against and need to do, you can best decide for yourself how you want to proceed.
I agree with Craig, getting someone to help in the sale of the home who knows how to sell, is going to save you money most of the time. Getting a bad realtor is where you are at fault usually. You need to do your homework, check a few out and decide on someone who knows your neighborhood.
Selling FSBO is a headache, there are plenty of surprises that come up last minute. Having done so many home inspections with so many types of people....egos and pride of your home gets in the way. Having the experienced realtor being in the middle to provide experience, objectivity and a cool head , pays for itself in the long run.
Folks who FSBO need to be there when someone looks at the home and during the inspection...to many times the buyers are not comfortable with them around...and look elsewhere.
Having been on all sides of every fence, coming from experience, I would go with the realtor. I do not always agree with them...hehe ...but they are there to help with your biggest investment.
My 10 cents worth.
I used to think selling your home yourself was the best bet but not anymore. We sold our home last year through a realtor and I'm so glad that he had to handle all of the inquiries because there were a ton of them.
I picked my realtor by having 4 different agencies in our area come look at my house and give me an idea of the market value. Our house was a Country Farmhouse look with a wraparound porch - NOT BRICK. All of the agents but one thought that was a drawback and would make the house difficult to sell at the price we needed.
The other agent thought the place was absolutely beautiful and when he took pictures and placed them on the web, the pictures reflected the beauty. He sold the place for us within 3 months for $10,000 below our asking price (it was a buffer to make sure we got the $$$ we wanted). He handled all of the turmoil - except he didn't take care of keeping the house clean for me - now that would have been a real deal.
Yeah - a good realtor is worth the fee.
I feel that Realiter get way to much money but you dont really have a choice. Its not really your listing agent that sells your house its the buying agents. They are the ones that pick out the houses for their clients to see. They will not show them a for sale by owner period. They will also aviod any house with a small commission. The buyer would have to find your house on the web them selves and drag their agent there. Then the the ageint will have nothing nice to say about the house. In this marker I would say to go with an agent and pay the 6% with a large office. and you will be able to ask more for your house and sell it.
It is very true that some agents(and brokers!) won't try to sell a house that has less than the regular commission for your area. Sometimes agents/brokers will offer discounted rates but this usually comes off the commission that they give to the selling agent which means your house may be in MLS but selling agents aren't going to push it because they make less profit. Having your home on MLS is better than not but some brokers unofficially boycott discounts and discount brokers to keep the customary rate fixed.
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