Home Buying in 23451>Question Details

clk, Home Seller in Chicago, IL

looking for a realtor/broker who is willing to take 2.5% or less. this will be a huge qualifying factor, might as well get it out there. Anyone?

Asked by clk, Chicago, IL Sat Feb 20, 2010

interested? Rogers Park, Chicago

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10
Cheryl,

Give your keys back to the bank now! if you are serious about your equity you do not have enough to mess around. Save your time and effort and just have your home repocessed.

Good luck
2 votes Thank Flag Link Sun Feb 21, 2010
Dear Cheryl,

I just sold a property that was listed with a "deal of a broker". The seller gave it to me because the agent she asked to sell it before at a discount did a discounted job getting it sold. I also brought her the buyer in 60 days from listing to sold. If you're serious about getting your house sold go with a professional. Would you ask your hair dresser to cut it for $5 and expect a $50 job?
1 vote Thank Flag Link Sun Feb 21, 2010
Santiago's answer is what you really have to pay attention to.
If you understand that the commission is essentially split 4 ways, between the listing agent, buyer's agent and each of their brokers, then hopefully you will understand that 2.5% split as I just described is probably not going to attract a lot of agents and therefore few buyers to your listing.
I would like to say that buyer's agents do not pay attention to the commission percentage when they show their buyers different properties but there have been long discussions on this website that show differently.
I will show my buyers any property they choose to see( I rarely pay attention to the commission offered), but I am under the impression that not all agents will do that.
1 vote Thank Flag Link Sun Feb 21, 2010
this was asked almost 4 years ago!
0 votes Thank Flag Link Wed Nov 13, 2013
Discount prices get discounted services and discount quality. If you cannot afford to sell, short sale might be your best option.
0 votes Thank Flag Link Wed Nov 13, 2013
You get what you pay for, and if an agent is no more concerned with what they will make than to jump on your offer, well how concerned will they be when it comes to negotiating what you will make? Good luck.
0 votes Thank Flag Link Sat Sep 8, 2012
Hello Cheryl
Make sure to check full experience, client reviews and past sales history along with a personal one on one interview at the agents office. Not only to learn about the agent but also see how active and what strenghts they have to offer you to get the most for your listing as far as marketing and advertising and promote your home for sale. Your selling price should factor in the amount of commisions so not to have any issues on what needs to be paid out. Remember you get what you pay for and finding an agent that settles on low commision will possiblly give low results. I wish you all the best in your real estate transaction.
Web Reference: http://www.maryjodaly.com
0 votes Thank Flag Link Sun Feb 21, 2010
Keep in mind, oftentimes that's all low budget brokers may offer--if you need to sell, negotiate a fair commission that will include great marketing--in today's market, price and marketing are paramount--no one knows where the market will head, and the longer your property sits the more money you could stand to lose.
0 votes Thank Flag Link Sun Feb 21, 2010
Cheryl - our firm requires that we pay out a minimum of 2.5% to the buyer's side. That means that using your scenario, there is nothing left for the listing agent to pay for all of the marketing that a listing requires, no open house, no lock box, no photos, no virtual tour, no brochure, no nuthin.

And there's certainly no profit left for the agent. So I'd say "sorry, but no". I'm not really into working for free.
0 votes Thank Flag Link Sun Feb 21, 2010
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Please call me 757 270-1623 Marie De Pedro. I think I can help you
0 votes Thank Flag Link Sat Feb 20, 2010
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