Home Selling in 33019>Question Details

Bplatinumt, Home Seller in 33019

IWANT TO PUT HOME FOR SALE BUT MLS LISTINGS IS 6% SPLIT BTW MY BROKER AND THE OTHER BROKER FROM MLS HOW DO I SELL IT WITH JUST ONE BROKER INVOLVED

Asked by Bplatinumt, 33019 Wed Nov 25, 2009

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As a Buyers agent I can't really help you on the Listing agents end but I wanted to add that in this market, there are thousands of properties to choose from, if I only have time to show 10 homes, I am going to pick and push the best houses that represent what my client is looking for and as is human nature, I will check the commission being offered to me by the seller. I gaurantee that if you were to offer the buyers agent a higher commission, say 4%, the interest in your property would skyrocket! The reverse will naturally be true if you cut it to 1.5% or less.
1 vote Thank Flag Link Mon Apr 26, 2010
Sell FSBO (for sale by owner). If you sell it privately, there's no commission. If another agent brings you the buyer, the usual process is to pay the other agent a commission which often is equal to half of the full commission--in your example, it'd be 3%. But that's up to you.

Another option is to work with a discount broker. They range all the way from ones who cater to FSBOs and often charge just a few hundred dollars to put your listing on the MLS (but don't offer other services, or charge for them) all the way up to some agents who say they're full-service but charge less. They might, for example, offer to charge 4-1/2% total. That split might work out to 3% for the agent who brings the buyer and 1-1/2% to the listing agent. It's all negotiable.

Remember, though, that the agent who brings the seller probably will expect his/her full commission.

And it's not really practical to try to find an agent and require that he/she handle both ends of the transaction. It just doesn't usually work out that the listing agent is also the agent who finds the buyer. So while you certain can say to an agent: "I'll give you half the commission but you not only list the house but have to sell the house, too" but few agents would accept that arrangement and you'd probably end up with an unsold house.

And, finally, it's a cliche, but you pretty much get what you pay for. If you pay less, you'll usually get fewer services. If you understand that, fine.

Hope that helps.
1 vote Thank Flag Link Wed Nov 25, 2009
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Get a powerful real estate agent/broker that will sell your house for a good value, so you don't have to worry about extra 3% commission. Feel free to contact me directly at:( 954) 614-4274 cell or via email Dorina@ReFloridaHomes.com
I will help you sell your house fast and at the highest price.
0 votes Thank Flag Link Tue Jan 27, 2015
Get a Real Estate license, join a firm and list it yourself
0 votes Thank Flag Link Mon Dec 29, 2014
You have several options:

1. You could FSBO (sell by owner) and avoid all commissions
2. You could spend some time trying to find a traditional agent willing to negotiate a lower commission rate
3. You could work with a discount, MLS entry only broker who'll just list your home on the MLS for a few hundred dollars, provide little or no other service (this varies from broker to broker, do your research)
4. You could work with a full service broker charging just a flat fee as listing commission but doing the entire (traditional) work.

Any of the above except the FSBO route will require you to pay a buyer agent commission to be able to list on MLS.

There are quite a few companies out there covering all options above (including us, of course).

Take a look at our website to see the different options and choices we give you, at different price points depending on how much or little work you are able and willing to perform. Our so called "owner managed" listings where you do most of the work, but with some crucial assistance from us start at just 195. Our full service, "agent managed" listing service where we manage and perform the entire selling process costs a flat fee of 2,950. Even better, if the buyer is not represented, you do not owe any buyer agent commission.

Give me a call or send me an email and let's discuss further what's best for you.

Alin Zdroba
Founder/Broker of Propertio
954-418-2154
alin.zdroba@propertio.com
http://propertio.com
Web Reference: http://propertio.com
0 votes Thank Flag Link Wed Jul 25, 2012
I understand that the economy is difficult, but the realtor working for commission.
0 votes Thank Flag Link Tue Dec 21, 2010
It never ends: in the good old times, when properties would fly off the "shelves", owners will ask listing agent to cut his/her fees because properties sell fast (I'm not saying that the argument is valid, for numerous reasons..); when the economy slows down, the listing agent suddenly is asked to be the seller' partner... (I do not remember any seller offering to share in the profits...)
Flag Sun Nov 4, 2012
Well it took 5 months, but I see that Kate has hit the nail on the head.

So, whyat did you do in the end? Did you ever list the house? Did it sell? How much commission did you pay? Was it worth it? Let us know.
0 votes Thank Flag Link Mon Apr 26, 2010
Based on your question, I would recommend using a flat fee mls service, where you would pay the flat fee + the buyer agents commission, usually between 2.5 - 3.5 %(this is negotiable). My company, Real Estate Express, offers a flat fee service for $399. There are no hidden charges in this fee. This will save you the money that you are looking to save. We are a full service real estate company, with the flat fee as one of the options. Call me with any questions.

Regards,
Steve Morin
Real Estate Express, Inc.
954-993-4742
Web Reference: http://www.re-express.com
0 votes Thank Flag Link Thu Nov 26, 2009
Not all agents provide the same advice, and not all agents are good at their jobs. Think about what you are asking; perhaps you are asking the wrong question. You're really looking to work with the the best agent in your area, aren't you?

I generally don'tt find that the agents I consider to be the "best" agents are the ones who proclaim they are # 1. The best agent likely isn't the one with the most listings, the highest productions, or their face on a big billboard ...

The things that the best agents do for you as a seller are guiding you to prep and price your property correctly, the best agents are experts at writing good listing descriptions, make certain their listings have ample and excellent photographs, and takes time every week to discuss the marketing of your home with you - either via phone, letter or email, or face to face. A great agent is really good at the nuiance of presenting your property in the best possible way.

The best agents don't advertise THEMSELVES all over your home flyers (yes, that's a pet peeve of mine).

The best agents don't spend much time marketing themselves to strangers on the internet -- the best agents are busy working with buyers and sellers who already know something about them -- they are working with clients who were referred to them via word of mouth, or because of a prior experience buying or selling. Quite frankly, you should not care ONE IOTA if the best agent in your area turns out to be an expert at writing on Trulia! Some of the best agents take some time out of their schedules to write on these guides, but not all.

So, my advice: Quit focusing on the idea that you're going to "save" 3% in fees.

Focus instead, on WHO are the best agents in your area, take the time to find and interview at least 2 or 3 agents. Get those personal referrals! I'd be surprised if you didn't come away from your interview process with some refreshed excitement about working with a true professional, and also I think you'll be more willing to pay the fee that an expert agent commands.

When interviewing, please don't discuss the commission or fee first --- let the agent make their presentation to you in their own way. Be patient, and hear what they've got to say. Listen first, discuss second. It's what you do when you're interviewing for a job - give the agents you are interviewing that same courtesy.

Ask as many questions as you want, and if you still feel you wish to ask for a discount or a lower fee, do so; but don't be surprised if the agent says, 'no that's not how I work'. It will always be your choice as to who you work with. Simply stated, take the time to find who is the best, and find out why.

In my view, a top-notch agent can get you a higher selling price than a marginal agent. A top-notch agent will get your property sold, vs. just letting it sit. And sit. And sit some more. And, a top-notch agent will know who you are 6 months from your closed transaction date, or several years. They won't forget you.

Find, and interview agents, and choose someone you feel works hard, and earns their living because of skill and knowlege, not someone who simply lists anything, at any price, at any fee ... and hopes for the something to happen.

Work with someone who makes things happen, and listen to their advice. You'll be well served.
0 votes Thank Flag Link Wed Nov 25, 2009
Hi, I guess what you are after is to reduce your broker's commission fee. There are a lot of techniques we could employ to find a buyer without an agent. Another way would be to put a clause in the listing agreement that only if a buyer's agent is involved you would pay the 6%, but if only the listing agent is involved he/she would get some kind of bonus and not the whole 6%.
Good Luck!
0 votes Thank Flag Link Wed Nov 25, 2009
You'll have to go FSBO and do everything the listing agent is supposed to do for you.

This is primarily getting the property on MLS and marketing the property, which is the hardest part.

You can market your property to Real Estate agents in the area and let them know you are willing to pay them a 3% commission for bringing you a buyer.

If they do bring you a buyer, most agents will be willing to handle the entire transaction, since their commission will depend on it.
0 votes Thank Flag Link Wed Nov 25, 2009
You could use a flat fee mls service. At SELL RENT real estate http://(www.sellrentrealestate.com) we offer flat fee listings starting at $199. This way you will only pay one commission to your buyers broker and our low flat fee. Additionally, we are attorney owned, so if you need any help navigating through the sales process, we are here to help.
0 votes Thank Flag Link Wed Nov 25, 2009
Well, you can try to sell it privately and save the commission but in this market it is tough to do. You are better off with listing with a Reator. And as for using only one, most transactions involve 2 Realtors, one for the Buyer and one who works for you. This way you will have someone working only in your best interest.
0 votes Thank Flag Link Wed Nov 25, 2009
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