Home Buying in Flower Mound>Question Details

Flower Mound…, Home Buyer in Flower Mound, TX

We need to sell our FLower Mound home to relocate this summer. We have only lived in our home for 3 years, so we don't have much equity.

Asked by Flower Mound Resident, Flower Mound, TX Wed Jan 20, 2010

However, we did buy the house under the market price. To list the home aggressively and try to sell it within 3 months, we need to find a realtor who will only charge 3% so we do not pay more than 6% total for agent fees. The agent we've worked with in the past wants a full 6% because we are not buying another home in this area. Are there realtors out there who will work with us for only 3% commission if we help with marketing?--Maria

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20
Dear Maria,

Hopefully I can explain the commission which so many people don't fully understand and that will help.
If the homeowner agrees to pay a 6% commission - 3% goes to that Listing agent (the one who works for the seller and puts their sign in your yard) and the other 3% goes to the Buyers agent whom brings the buyer to your home. Then each agent must split that 3% with their Broker 50/50 (unless they have a different split). In the end the agent gets about 1 1/2 %. Some Listing Agents will discount and only charge 5% (3% still goes to that Buyers agent) and they only keep 2% (1% after splitting with Broker) if they are going to assist you on your future purchase - this is because they will get the 3% on the Buy side when you purchase a home (which you would not pay/ that home owner would).
If you list your home and only agree to pay 3% total - that means your agent would be working for free. They would have to list your home on the MLS offering the 3% commission to the Buyer Agents out there working with buyers. Even if you were to help with Marketing expenses (which is very thoughtful), the listing agent has many expenses associated to listing a home. In addition, the bulk of what you are paying for is the agents knowledge, experience and representation during the contract/negotiation process. Also keep in mind that the Listing agent here can refer you to another agent wherever you are moving to (even out of state) which would get him a "referral fee" . This isn't a full 3% but its better than nothing and you could offer this as part of your negotiation. Hopefully this helps clarify some. Please let me know if I can help in any way, I would love to have the opportunity to assist you in selling your home.
Feel free to call me.

Shelly Biro
Keller Williams Realty
817-675-3299
shellybiro@kw.com
1 vote Thank Flag Link Wed Jan 27, 2010
Maria try marketning your home yourself. EXPOSURE is KEY! I live here in Flower Mound.
Let me know if I can help out.
Laurie Kash
Flower Mound Realtor
972.342.0929
http://lauriekashrealestate.com
0 votes Thank Flag Link Mon Jul 19, 2010
Have you thought about trying to market your home and sell it FSBO For Sale By Owner?
Their are also other ways you get your home Sold. I am a realtor and also investor.
Owner/Seller Financing is a very, very hot selling market right now. Their are more homeowners
out their who cannot even qualify for a loan.....................if you can why not help them out?
I can explain the whole process to you. It takes knowledge in this area of real estate.
Worth a try. text me at (972)342.0929 if interested.
Flower Mound Realtor
0 votes Thank Flag Link Tue Jul 13, 2010
Dear Flower Mound Home Buyer,

I agree with you that a "few" agents may not seem worth what they are paid, but we are all professional and we have different things that motivate us. Some it's our Reputation, some it's our pride of service, some because we really like helping people, some it's for the money, and for some others it's all of the above.

My comment: "All agents are not the same and "MOST" of the time; you will get what you pay for, Choose the best, not just the cheapest. " was meant for you to consider other factors in your decision. Such as which agent will explain the market to you to insure that you are getting the highest return for your money, who's market plan will get you the most exposure, and who is experienced enough to handle any type crisis if necessary.

You mentioned that you didn't have much equity, Your agent may have a plan to get the most out of the market, just asked them how they plan to do it. I believe in supporting all true professional Realtors, and client awareness of expectations will only help our profession to get better. I hope that this will help to explain my comment.

Good Luck with your home Sale and please give your Realtor a chance to explain their marketing program to you and how they can ascertain the highest price,

Curt Anderson, CRS,GRI,ABR,RDCPro
Realtor
Century 21 Judge Fite
214-315-6753
0 votes Thank Flag Link Tue Feb 2, 2010
I have a commission structure that is a low as 1% total - if you would like to hear about it call me direct - As far as "you get what you pay for" I agree that some agents work hard for the agreed to commissions and others do not - in this market I have a reputation to protect it is more about that then the paycheck at the end of the transaction.

Great day to you

Charles
0 votes Thank Flag Link Tue Feb 2, 2010
As noted in previous answers, all real estate sales commissions are negotiable. Realtors work on 100% commission and have significant expenses running their business. I'm open to discussing my fees, with my clients, and helping them understand what they need to do, to get their home sold expeditiously, for the highest price. Experience does matter, I see mistakes being made everyday. My job is to represent my client's interests and capitalize on mistakes and inexperience, by others. I don't look at my fee as a cost to my clients, as I routinely save them significantly more than the sales commission fee, through the process of completing their real estate sale.

We work as a team and bring multiple perspectives to all opportunities. Professional Real Estate Sales and Marketing, Flower Mound area residents for over 13 years. We welcome the opportunity to help anyone looking for professional help.
0 votes Thank Flag Link Mon Feb 1, 2010
Thank you to all of you who have offered clarifications regarding the commission structure. My question should have been whether it is possible and/or unusual for one agent to charge more than the standard 3%. Perhaps I misunderstood the realtor I have worked with in the past. I will follow up with him, as it appears that 6% (which includes both agents) is the norm as I suspected.
I also want to emphasize that I do not undervalue or underestimate the work that goes into selling a home--from the agent's perspective. I don't necessarily agree with the statement that you "get what you pay for," however. I've sold four homes in my lifetime, and believe me--there are realtors that in my opinion, did nothing, and received their full commission. I worked with one in the past who was wonderful--and who charged me only 2% in selling my home because I was buying a new home and also worked with him. So, there are options as some have pointed out above.
This is not the most ideal time to be selling a home, and for many of us who do not want to seek a short sale or lose a great deal of money, we are looking at all possibilities.
0 votes Thank Flag Link Sun Jan 31, 2010
I'd love to have the opportunity to talk with you about how professional home staging can really help you. Research" home staging" and you will learn that staging is one of the most effective ways to sell quickly and for top dollar. Staging may be the best weapon you have for making as much profit as possible. I'd love to talk with you.
0 votes Thank Flag Link Sun Jan 31, 2010
I like what Shelly Biro has written, and she pretty much explained the full process. However, some details that effects this whole picture is how would your chosen agent help you sell the property for most money. Some discount brokers or flat fee agents may just put you on the MLS, sit back, and wait for a buyer agent to bring you a contract and they may not even get you 95% of the list price. Is that even worth a commission?

But a Real selling agent will help you market your home by helping you to prepare, stage, and present it in a way that will appeal to most buyers, thereby allowing you the chance to get a higher price. So, if you used a discount broker and gave up 3-5% in sale price, what have you gained? It may also take them longer to sell.

But if you use a true marketing/listing agent that puts up their own money to help you make more money, then they will earn the commission that they charge. So, it's not who is charging the lowest commission, but who will bring you the highest price. Ask the agent what is their marketing plan for your home. Are they using all the technologies, the best virtual tour, the best web presence, the best staging, the best follow-up, the best communication, and do they have listing experience. Also, to what extent is their knowledge in case a problem occurs, and what is their past sale price to list price ratios.

All agents are not the same and most of the time; you will get what you pay for, Chose the best, not just the cheapest. Good Luck and God Bless,

Curt Anderson CRS,GRI,ABR,RDCPro,CDPE
Century 21 Judge Fite
Flower Mound, Top Producer 05-09
214-315-6753
CurtandSarah@judgefite.com
Web Reference: http://www.casaC21.com
0 votes Thank Flag Link Fri Jan 29, 2010
Guys, its really not cool to be discussing commissions in a public forum. There's those pesky anti-trust laws.
Flower Mound Resident,
All commissions are negotiable. Do keep in mind that the commission is usually split four ways, and I would strongly suggest choosing a realtor based on how good they are, not how little they charge.
0 votes Thank Flag Link Tue Jan 26, 2010
Most agents are going to want 6% since you are not purchasing another. I would be willing to talk with you to see if we can work something out. Please conact me at your convenience.

Do not hesitate to give me a call to discuss furhter at 214-789-8143
0 votes Thank Flag Link Tue Jan 26, 2010
You should not have to pay more than 6% total agent fees. I charge 6% of which 3% will be paid to a buyers agent. I am a full service experienced FLOWER MOUND REALTOR that will work for your business and get your home SOLD at the best possible price in the fastest amount of time.
Call me anytime for a consultation 214-727-3602, or Nancy@NancyKoket.com
0 votes Thank Flag Link Tue Jan 26, 2010
Few FYI's

1. We do a flat fee listing based on restrictions of $995 this saves you $1000's at closing and buyers agent would be paid via seller (you) 3% . Which is less than 6%
2. Are you NOT confused with who you spoke to for a listing agent to take a full 6% not split that with buyers agent which is normal standard practice

IF your home is within the 1st time home buyer credit OR move up buyers I would not wait have your home listed now... many buyers are out there searching.

ANOTHER OPTION: Lease your home we also represent property owners in leasing market

CONTACT OUR OFFICE TODAY
972-699-9111


Lynn A. Crosby ~ National Featured Realtor
Follow me on Twitter: http://twitter.com/Lynn911
Dallas Realtor, and Credit Repair Consultant -
The Michael Group - "Dallas Business Journal 07, 08', 09’ list top Realtors"
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Dallas Real Estate Office: (972) 699-9111
Dallas Real Estate Website: http://www.lynn911.com 60,000 listings Dallas homes for sale
0 votes Thank Flag Link Thu Jan 21, 2010
Maria,

I think we can work something out with you.
Please give me a call at 214-675-6992.
I would like to see your home.
In the meantime if you would also like to keep track of prices in your neighborhood please follow the link below.

Bruce Lynn
Keller Williams Realty
214-675-6992
Web Reference: http://www.dfwSnapshot.com
0 votes Thank Flag Link Wed Jan 20, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Maria,

I understand your situation. I will be happy to help you in anyway.
I offer a Commission Plan for my clients so you can choose your own Commission Plan. You will have an aggressive marketing plan includes online and offline marketing programs which I explain during our first meeting. Please feel free to contact me as soon as possible.

Sincerely,
Pelin
http://www.dallashomelist.com
0 votes Thank Flag Link Wed Jan 20, 2010
Want to mention - We are located in Flower Mound
0 votes Thank Flag Link Wed Jan 20, 2010
I have a marketing plan and a commission structure that will help you. My sales record for last year is 24 days on market - this means we were priced right and in condition to sell. Just call me Charles Nuber 214 284 7136. The Nuber & Nuber Group can help! our web stie is http://www.DallasHomesTX.com

Make it a great day!

Charles NUber
0 votes Thank Flag Link Wed Jan 20, 2010
Hi Maria,

I have a 4% commission rate and have an aggressive marketing plan that we can discuss. Connect with me on justinhenryhomes.com.

I look forward to working in achieving your goal.

Thanks,

Justin Henry
Justin Henry Home Sales Team
972-757-6273
0 votes Thank Flag Link Wed Jan 20, 2010
In my area 1/2 of the commission paid out by the sellers is going to the listing brokerage and the other half to the buyer's agent brokerage. So you really want someone to list and market your home for 1.5%? Out of that the agent generally gets a split which varies from brokerage to brokerage. Maybe half in some cases. Out of that the agent has expenses, car, mileage, advertising, membership fees, education and a deductible on Errors and Omissions Insurance (ours is $2500 paid out of pocket if anything goes wrong - just to start). The commission stated in the listing contract for MN is the sum total for both agents brokerages. Is it different in Texas?
Web Reference: http://topbrainerdagent.com
0 votes Thank Flag Link Wed Jan 20, 2010
Maria,

Most buyers agents work very hard for their clients, guiding them through the buy process in addition to time showing them homes. Many seller's want to offer the buyer's agents who brings a buyer to their home 3%. Now, as a seller's agent, some of the things I do off the cuff is to enact my 30 point marketing system and a professional sign goes in the yard. Most of the time, we spend an average of 40 or so hours between marketing the property, negotiating with agents, talking with other real estate agents about the property, listing it on other Realtor based websites and feed websites, negotiating, responding to showings and appointments, creating and sending out marketing material to select pre approved buyers and buyer's agents in the area, etc. I do this job well, and I expect to get paid (not pay) for a job well done. I hope that you can understand that my clients who pay me expect for me to work hard for them, and I do not think it would be fair for me to work for free in order to do so. There are discount broker's out there who may stick a sign in your yard, put it on the mls, but if that was all it took to sell a home in this market, wouldn't all of them be sold? I would be happy to discuss my easy listing marketing plan and see which items you may not need and consider a limited agreement and terms possibly. Feel free to call me and best wishes!!

Nicole Arenas, Realtor
214-991-9507
0 votes Thank Flag Link Wed Jan 20, 2010
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