Home Selling in Las Vegas>Question Details

djash01, Home Buyer in 89117

What is the lowest fee that realtors can work for selling the house ?

Asked by djash01, 89117 Tue Jul 30, 2013

I may be selling my house. I have lost of money and want to see if the realtors can work for the lowest fee possible. This will not be a short sale. This is the first time I will be ever making a profit in my life, and I don't want it to be eroded by realtor fees.

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Answers

25
That is a horrible way to think about your future Realtor who will market your home, do open houses, show the property, give you advice on what repairs you should make or how to stage your home to bring in the highest dollar for you; negotiate on your behalf, guide you through the entire process, provide you with disclosures to protect you from being sued by the buyer and you want to be cheap about paying that person the least amount possible????

Why don't you first try "For Sale By Owner" and then you will find a huge appreciation and value in a Realtor. Good luck.
1 vote Thank Flag Link Wed Jul 31, 2013
Ethically, agents are not suppose to discuss commission percentages. Also, you must remember, an agent is NOT paid a penny until the property closes. If you hire a good agent, that agent will have a lot of upfront expenses to promote your home for sale. Please remember, you get what you pay for and good luck!! Becky
1 vote Thank Flag Link Wed Jul 31, 2013
Great question.
Here are your optons.
Be aware, for professionals, this is a business, not a hobby.
These options ARE available.
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1. Zero...you pay nothing. nada, not a dime.
2. You pay agent flat fee for MLS entry
3. YOu pay flat fee for MLS entry and limited service
4. You pay pro-rated contingency compensation.
5. you pay contingency compensation
6. You pay 100% over base price
7. Deffered compensation on tertiary market.

Of these seven optons 3 are gauranteed to erode your profit, but fully meet your 'cheapest' expectation.
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What you are exibing is the thinking..the mindset of those who will be forever POOR. These who are forever POOR always think in terms of 'What does it cost?" Those who understand wealth, who actually would like to rub against wealth, must change the tinking from cost to 'How much will I make?"
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Let me repeat...."HOW MUCH WILL I MAKE?"
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The profit mentality, what you thought you had, is outcome based (not what you are exhibiiting), not cost based (what you are exhibiting), Those who expereince profit, who have wealth, know you will need to invest in the resources needed to create wealth. Some, seeing another who apppears naive, swoop in with the assurances that assuage the fear of the 'cost' minded.
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Until you truly grasp this reality, you will be forever working with those who will pick your pockets clean and you will be completely unaware. The one thing you will know is....Your money has evaporated.
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At this moment 14 have responded.
This is your chance to embrace the wealth mindset and ask the agents you interview...
"How much profit will I make?"
(Smell the coffee. This is the question JON is asking himself. He IS profit minded.)
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You will discover, the quality of the service you engage, (note the word is QUALITY) is dramaticly more imporatnt than the COST!
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The choice, however, is always yours to make. That's what is so incredible about real estate, there are so many choices to match what buyers and sellers want. So, are you seriously consider #1?

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
1 vote Thank Flag Link Wed Jul 31, 2013
I like your answer.
Flag Wed Jul 31, 2013
Do you use the same approach when you get your car repaired?
1 vote Thank Flag Link Tue Jul 30, 2013
Finding the cheapest agent will not necessarily put the most money in your pocket at the end of the sale. In fact, I expect using the cheapest agent will cost you more in the long run.

A good and experienced agent knows how to maximize your profits from a sale by combining marketing, staging, proper offer analysis, assessing buyer motivation, specific contract clauses, negotiation at the beginning and throughout the transaction, etc... but these talented and experienced experts are probably NOT going to be the cheapest.
1 vote Thank Flag Link Tue Jul 30, 2013
My co. can buy your house without any realtor fees. We are investors here in the LV market. Please call me to discuss. thx,
jon 702-525-7368
0 votes Thank Flag Link Mon Aug 5, 2013
We can run a FREE CMA for you and tell you what we can sell the property for as well as give you an estimate of all fees from both our brokerage as well as escrow fees, etc.

If you are interested in this please contact me directly or fill out our seller's form here: http://lvrealestatehelp.weebly.com/selling-real-estate.html

Not only should you be concerned with minimizing closing costs but also ask how to maximize your selling price.

We are here and happy to help anytime.


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Mon Aug 5, 2013
Each agency has its own percentage rates, and they are negotiable always! If you've had bad experiences in the past with agents, ask family, friends, and people that work in your bank who they have used or know that will work hard for you.

If that is not going to work then google agents in your area by name and see what others are saying about them and their work ethics, just as you would and thing else you would buy. Just because they are top listing agents don't always mean they are great at selling. Do your home work on all aspects including companies that just buys homes.. it may take more time and get top dollar for the home opposed to settling for less.


Agents do a lot of work, and spend their money in promoting your home when selling it... it is worth the exposure with MLS as it gets millions of eyes looking at the property that normally wont see it. Good luck to you!
0 votes Thank Flag Link Thu Aug 1, 2013
djash01,
you can avoid all realtor fees by selling it on your own. My company is buying properties here in Las Vegas right now and would gladly give you an offer.
Please call me to discuss at 702-525-7368. thx, jon
0 votes Thank Flag Link Thu Aug 1, 2013
Djash01,

As I read the question posed by you, I can't help but think you must have had some pretty poor representation in the past. A good Realtor brings a wealth of knowledge, experience, and savvy to each transaction. I don't think you realize how much effort goes into each transaction and that is a shame. If you would like to discuss why a Realtor is worth the commission they earn, I would be more than happy to sit down with you and go through the entire process from start to finish. If you are not local to Las Vegas, I am happy to do this on the phone, Skype, or email.

Thank you,

Jeffrey Sklar,
Broker/Owner/Realtor
Desert Valley Realty
10161 Park Run Drive #150
Las Vegas, NV 89145
702-408-6470 mobile
0 votes Thank Flag Link Wed Jul 31, 2013
Ethically, agents are not suppose to discuss commission percentages. Also, you must remember, an agent is NOT paid a penny until the property closes. If you hire a good agent, that agent will have a lot of upfront expenses to promote your home for sale. Please remember, you get what you pay for and good luck!! Becky
0 votes Thank Flag Link Wed Jul 31, 2013
As some have pointed out in the post your concern is focused on cost to you.

The unforeseen cost to you: Until you sell your house there is no profit. The house will not sell unless it is at or below FMV in the majority of cases. If you owe on a mortgage every day that passes until it sells is costing you money. Depending on your location/sector is the house depreciating or appreciating monthly. Have you already missed the prime/peak selling periods in your area? On average how many days can you expect your house to be on the market in your area before getting an offer 4 - 10+ months? I think at this point we may have hit on a few unanticipated costs.

The profit: I think realtor fees may be the least of your worries when it comes to eroding profit.

Good luck to you!
0 votes Thank Flag Link Wed Jul 31, 2013
You pay for what you get. If you want limited services, you can get a lower fee. As I recommend to all my clients, you should interview 3 agents to get differing perspectives and make sure you get the right fit for you and your needs. If the agent does their job well, they should net you the number you want and cover the cost of their services. I have a proven track record of getting my sellers 5-22% above market value on their homes. With 52 homes sold this year, I am confident that I can do the same for you. I invite you to call me to discuss your needs and in the meantime invite you to preview my complete home marketing plan at http://www.slideshare.net/marypreheim1/mary-preheim-group-co…

Best wishes to you making top dollar!
Mary Preheim
702-900-6279
0 votes Thank Flag Link Wed Jul 31, 2013
I can save you all the realtor fees by buying your house directly. I am an investor here in las vegas and I am currently buying homes to add to my portfolio. Please call me to discuss.
thanks,
jon
702-525-7368
0 votes Thank Flag Link Wed Jul 31, 2013
Dear Djash01,
If you are willing to do some of the work yourself you can find some brokers that work on a reduced commission. It will not be a full service broker, but perhaps that would work out best for you. The best way to go about this is to specifically look for a "discount brokerage" and make some calls. Best of Luck to you!
0 votes Thank Flag Link Wed Jul 31, 2013
The commission fee is negotiable. You should be getting invaluable help selling your home in exchange for the money you allocate to the Realtor.
Typically half of what you give the listing agent goes to the buyer's agent. It will depend on your market what would be acceptable. There are agents who will not show a property if they receive less than X% of the sale. Meaning you could be losing the buyer willing to pay the most by short changing the buyer's agent.
The listing agent should have a marketing plan and be able to tell you what they are doing at what stage in order to get you the highest price, at the least inconvenience to you. Even more important would be the negotiations once you have a bonafide offer.
You should interview agents to find the one who will give you enough of what you need at the price you are willing to give. Otherwise, do it yourself - For sale by Owner.
0 votes Thank Flag Link Wed Jul 31, 2013
You will always be able to find desperate agents. Does not mean you will get the best service. but Im sure service is not what is important.
0 votes Thank Flag Link Tue Jul 30, 2013
Commissions are negotiable. The Broker sets what price their agents can offer potential sellers.

Commissions can vary by service, type of agent, etc. Not all agents are created equal. Just because an agent discounts doesn't mean that they are less skilled than a full fee agent. And visa versa. It is really important to have a conversation with the agent and determine a win-win for you and the Broker.

Market conditions, marketing, skill set, risk management, project management, negotiating, error and omission insurance, an agent and a brokerage that will still be around in for the long term and which will be supportive if something goes wrong.

All the best to you.
0 votes Thank Flag Link Tue Jul 30, 2013
Please keep in mind, we Realtors have families. Further, this is a job, not a hobby. If you dont want your profits to be eroded, you can either increase the price of the home or you can sell the property yourself. Realtors provide a valuable service and should be compensated. Remember you get what you pay for. A CHEAP Realtor will provide you CHEAP services.

Thanks,


Nakia Woodson
702-318-1244
0 votes Thank Flag Link Tue Jul 30, 2013
No Realtor can tell you what is "Standard" so just negotiate the commission based on services you need. Call me and you'll get my wife and I for a great price. We've been doing this since 1985 and have lots of buyers and investors so we're looking for more homes. Matt and Kim 702-501-0973
0 votes Thank Flag Link Tue Jul 30, 2013
The commission is always negotiable. First when you meet with Realtor ask what service will provide to sell your house for top dollars, and how long will take. Also in your case from my understanding you are living in different state, so ask him how he/she will be proceed for on time updates.Who will help you with staging? What kind of marketing they will provide? All answers and agreements that you achive lead to the commision that you are willing to pay to reach your goal. I can provide you written agreement for performance guarantee. Ask the Realtors how many of them can provide this?
For more information call me or email me
0 votes Thank Flag Link Tue Jul 30, 2013
Is your house in Las Vegas or in Miami? If you live in Miami and are selling a house in Las Vegas, you will probably want to make sure you find an agent that will work for you and take care of your property at the same time. The likelihood of your Profit being "eroded" will depend a lot more on the condition of your property than it will on the small difference in what a Realtor may be willing to discount a commission. If your home is in Las Vegas, call me and we can talk There are way to many variables to discuss them all in a chat room. 702-326-4078
0 votes Thank Flag Link Tue Jul 30, 2013
Call around and see if someone will work for you under the terms you specify. Just remember that a lot of the fees that realtors charge absorbs the advertising costs inherent in selling a property. When the fees are cut and the realtors are working for the small sum you set, you won't receive any advertising. That generally translates into your house sitting on the market for a long time.
0 votes Thank Flag Link Tue Jul 30, 2013
I think what's most Important to know, that those willing to cut their commission really "low" is how they will negotiate for you. I think what it sounds like is that you want a higher bottom line. Paying less commission isn't what makes your bottom line higher . It's a quality agent that can charge the going 6% nation average commission rate and still get you a higher bottom line than the 5% agent. The "you get what you pay for ", is very true in this case. You want a top notch negotiator. Call me, if you want top dollar in your pocket 702-683-6576 Michele Kubiak Prudential Americana. I have testimonials for you
0 votes Thank Flag Link Tue Jul 30, 2013
Commission rates are negotiable. Be warned though with limited service listings, although cheaper they may not save you money in the long run if they dont offer you guidance through the transaction.
Good luck!
Web Reference: http://thespaldingteam.com
0 votes Thank Flag Link Tue Jul 30, 2013
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