Question Details

Seller, Home Seller in Mobile, AL

What percent should you pay a real estate agent if selling a home for sale by owner?

Asked by Seller, Mobile, AL Thu Nov 10, 2011

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7
Seller,

It would be fair to assume that the agent found you a buyer, wrote and executed an agreement, will expedite all related paperwork, field the question of both the buyer and seller, be sure all necessary parties are involved/or kept informed, assume risk and responsibility for the entire transaction, and guide each party to the closing.......

It's often overlooked by the seller of the property that under these circumstances the single agent that is involved in this transactio will end up "doing the work of two agents." We would hope that individuals considering a "fair" fee for professional services would take this into consideration.

In these cases a minimum of 3-4 percent of the sale price would be fair.

Bill
0 votes Thank Flag Link Fri Nov 11, 2011
Seller,

Considering the work that the buyer's agent will have to do, you should offer them at least 3% of the purchase price. Unless you are well versed on real estate contracts and all aspects of the sale, it is worth the money. Having a licensed realtor involved with help you and the buyer.

I hope it goes smoothly.

Angie Simpson
Coldwell Banker
0 votes Thank Flag Link Thu Nov 10, 2011
You didn't say if you received an offer?? If you received an offer, it would probably have an agreement for commission attached as part of the contract. If you are interested in advertising your home for sale, and want to encourage agents to bring clients, then why not offer them the full 3%! Better yet, maybe you should consider interviewing Realtors, to get opinions on what they feel they could do for you!
0 votes Thank Flag Link Thu Nov 10, 2011
Hi Seller,

All commission is negotiable. That said, in CA, the 'usual' commission paid to the buyer's Realtor is 2.5%-3% of the purchase price. Hope that give you some help?

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Thu Nov 10, 2011
That right, what you are describing I believe is a "cooperating with buyer's agents" which is a very good idea since the majority of buyers work with agents. Commission will be negotiable between you and that agent.

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Thu Nov 10, 2011
Any commission is negotiable....the question you need to ask yourself as the seller is --- 'what is the value of having an agent bring me a buyer that is ready, willing, and able to purchase the property?'....I think that is the more appropriate approach...how much is a sale worth vs having the property remain on the market. Studies show that only9% of homes are sold by owner....partially because of the limited marketing exposure for the property....and when a buyer does view the property, they typically discount the asking price by at least 6%....why...because there is no real estate agent/commission involved.
0 votes Thank Flag Link Thu Nov 10, 2011
You question doesn't make sense:
If you are selling it yourself, you are not using an Agent!

If you mean, an Agent approached you with a Buyer.....
We do not want to get into the middle of that!
That is totally negotiable between you and the Agent.

Good luck and may God bless
0 votes Thank Flag Link Thu Nov 10, 2011
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