Home Buying in 10312>Question Details

cheapskate, Home Seller in 10312

Are there local brokers who will accept listings for 3% and do what it takes to find a qualified buyer?

Asked by cheapskate, 10312 Wed Sep 4, 2013

Help the community by answering this question:


Joe Simone’s answer
Remember Foxtons home of the 2% listing? Not many people do yet when they began business they were the fastest growing real estate company. The reason they were so popular yet still failed is agents in other companies wouldn't show their listings. Majority of the time its not the listing agent who brings in the buyer. When you offer too little commission you limit the agents that will show your home, they do after all work on commission. I have two suggestions for you. The first would be to try to sell your home yourself. A lot of For Sale By Owners offer out 3% to agents if they bring in a buyer. The other option is to pay out more commission. If your agent is good you can list for 6% and still walk away with close to the same amount in your pocket. I almost always list for 6%. I can then set the price a little higher and it'll give me more wiggle room when it comes time to negotiate. If I really want to have agents fighting to show my listing i'll try to get the seller to throw in a bonus to the selling agent if under contract by a certain date. You might have a bidding war and get more then you expected. If you sell your home with 3% at $100k you make 97k if you sell at 6% but get 110k you make 103k. Food for thought
0 votes Thank Flag Link Thu Oct 3, 2013
Short answer yes brokers will take on a 3% listing and hope to find the buyer for your property since there will not be much to share with a buyers agent.
1 vote Thank Flag Link Mon Sep 30, 2013
Dear Cheapskate, There is no free lunch, and you get what you pay for! Have a few agents show you the highest comps in your area, and then ask what commissions those agents received for getting the highest prices. You wouldn't go to an important business meeting without dressing appropriately, and you would go out on a date to a fast food restaurant.
1 vote Thank Flag Link Thu Sep 5, 2013
Consider choosing your agent with care and not by commission alone....
1 vote Thank Flag Link Wed Sep 4, 2013
If you would like to setup a meeting please contact me directly to discuss brokerage fees.

Thank you,
0 votes Thank Flag Link Tue Jun 17, 2014
Annette, you're describing a "net listing" - it is illegal in NJ and in a number of other states (I believe including NY, but I didn't check).

cheapskate - commissions are negotiable........interview a few agents and see what they tell you.
The question is....if you only pay 3%, what part of that would be shared with a buyer's agent?

Maybe you need to have this (break down) explained to you....maybe you don't care about having your home on the MLS, and just want an exclusive listing with 1 agent...I don't know, but I do know you need to sit down and understand what it is you're asking!

Best wishes...........
0 votes Thank Flag Link Thu Sep 5, 2013
Hey cheapskate,
There's an even better 'sounding' deal out there that a NY professional may want to offer you.
That deal would be...."I'll sell your home and charge you NO compensation!"
First, you and I must agree on the price you WILL sell your home and you SIGN that CONTRACT..
Then, I (the agent)will keep 100% of every dollar above that amount.
How could a cheapskate turn that deal down?
Be aware, you WILL get what you paid for. Are you ready to dance?
Real estate in New York City is different anyplace in the country. Given about six seconds of thought, most NYC professionals will see the opportunity.
Tell me, wouldn't you prefer a situation where you can see what is going to take place such as what is provided via a traditional sale with appropriate compensation or discovering months down the road your 'cheapskate' agent pocketed an equivelant 18% compensation. Which would make you happier?
Real Estate professionals are engaged in business, this is not a hobby. There's comes a point where saving money is going to be truly costly.
0 votes Thank Flag Link Thu Sep 5, 2013
My concern is as to why commission is the focus here. I feel as if you might have had an unpleasant experience in the past, is that so? I believe that any sellers should interview three real estate companies before hiring the right company and Realtor to represent them in the sale of a home, the largest investment of your lifetime. I believe that a homeowner looking to sell should focus on marketing strategies and quality, local market knowledge, customer service, knowledge of pricing and list to sell %. At the end of the day the professional you chose to hire will impact the end result of the sale which includes: the final sold price of the house, engineer inspection and termite issues, contract terms, just to name a few. Finally, what seams like savings might actually be a loss.

Thanks for your question.
0 votes Thank Flag Link Thu Sep 5, 2013
I would like to is how I can help,just call me.
Fajardo Delacruz
347 932-0609
0 votes Thank Flag Link Wed Sep 4, 2013
I know some Staten Island agents look at the payout and show the homes with the highest payout. Also agents have to pay for advertising and promoting your home
0 votes Thank Flag Link Wed Sep 4, 2013
First, you should be consulting with realtors on Staten Island. Second, yes, there are realtors who will accept a 3% commission. However, you must consider that the 3% commission will be split with any co-broker who brings the buyer. While a 3% commission won't deter the listing agent from seeking to sell your home quickly, it may not get as much attention from other agents.

Contact me and I would be happy to take a look at your home and see what can be done to get your home sold quickly.
0 votes Thank Flag Link Wed Sep 4, 2013
There are brokers that will offer 3% but you will get what you pay for. The most impt thing to remember is not the commission but who you are hiring and what they will do for you at 3% not much
0 votes Thank Flag Link Wed Sep 4, 2013
It depends on the price range of your home, and how easy they expect it to be to market it. If you are in an area with very little inventory, and things sell fast, you might find what you are looking for. If you have a small co-op, and it will sit on the market for longer, you may not. Keep in mind that the 3% sounds like a lot, however it gets cut up a number of ways before the listing agent gets their percentage.
0 votes Thank Flag Link Wed Sep 4, 2013
Looks like you have an offer! Keep in mind -- you get what you pay for! What you're asking is for an agent to basically work for free. (presumably the agent will offer the buyer's side a portion of that 3%, so he'll keep whatever is left over....almost nothing).

Keep in mind that any agent who offers these "limited service" agreements is going to do the minimum amount of work. If there are any issues that come up during the contract, you're pretty much on your own. Hire an attorney. Your money will be better spent.
0 votes Thank Flag Link Wed Sep 4, 2013
Leave me u'r info & I'll get back to u.
0 votes Thank Flag Link Wed Sep 4, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer