I sold my house in california with 1% but my asking price for my home 10% below the market. Instead of giving money to the agent do the discount for the buyer.

Thu May 15 2008, 05:41

Please go tohttp:// www.FlatFeeDirect.com for the local (Elizabethtown) office that will get this done for you.

Sat May 10 2008, 16:24

You may be able to find an agent who will list your home for 4%, but in this market it may not be a wise decision. Here's why: I'm sure you understand that the commission is split between the buyer's agent and seller's agent. The listing agent has some choices as far as the commission being offered. He can offer to split the commission equally with 2% going to the buyer's agent and 2% staying with this listing agency, or they can offer 3% to a buyer's agent and keep 1% for the lsiting side. If 2% is offered for the buyer's agent commission, chances are, when listings are pulled for a buyer in this market where there is an overload of inventory, which ones do you suppose will be eliminated first? If the listing agent offers out 3% and only keeps 1%, how hard do you think that agent will work to get the property sold? Truth is, you get what you pay for. Sometimes it just doesn't pay to try to get a "bargain." You want an agent who will market your property and work hard to get it sold. With a low commission being offered, there is not much incentive to go above and beyond for a seller who feels you are not worth a fair commission.

Sat May 10 2008, 11:29

Hi Eddie,
I understand why a majority of the agents who replied told you that you get what you pay for, but here's how I see things:

I've worked for a few different companies over the years and this has taught me that they aren't all the same (for agents). Generally the big companies tend to take more of a commission split from the agent. Meaning that even if they were to list your home for 4% their commission would be charged as if it was a 6% listing. They usually offer some free perks and training classes, where agents are taught to spit out the phrase "If I can't negotiate my own commission how can I negotiate the sale of your home?" Please be advised that this is a generalization and not every company operates this way.

We happen to be with a broker who is very flexible, so we can get away with charging a lower commission. We still offer the seller full service - MLS listing, virtual tour, aggressive marketing, etc. Would I like to make 7%, heck yeah. But in this slowing market anything is better then a big fat $0 paycheck.

There are great and bad agents at every company (and everything in-between). Interview several of them and choose the one who you think can sell your home as quickly as possible. Good luck!

Thu Apr 3 2008, 21:29

Hi Eddie, I list and sell in the Vine Grove area, but could not say whether I would list at $199,000. I advertise in Louisville, Bardstown and Etown MLS so you would have the proper exposure if your house is priced appropriately and you are compensating the Buyer's agent appropriately as well. Appropriate pricing can be achieved by looking at recent sales of same square footage, same age and same area in the past 6 months.
If I can assist you to sell in the shortest amount of time for the highest amount, just let me know!
Anita Pettit,GRI
Coldwell Banker McMahan
anita.pettit@coldwellbanker.com

Thu Apr 3 2008, 20:57

Hey Eddie Give me a call! I would be happy to help you!

I look forward to working with you!

Heather Yocum
Nevins Realtors
502-235-5164
h.yocum@insightbb.com
www.HeathersHouseHunting.com

"Life may lead you where you least expect but have faith that you are exactly where you are suppose to be"

Fri Mar 28 2008, 22:01

Eddie, I am sure you can find an agent out there to do that for you. However, it appears to me that so far out of the agents you have met with they have not showed you enough value to get a full commission. I know that I wouldn't do that to you! If an agent can't fight for themself, how in the world are they going to negotiate for you when the biggest investment of your life is on the line?

Not sure how your market is where you are, but where I am you really must have an agent that is willing to aggressively advertise and professionally promote your property in order to get it sold. So let's assume you go with an agent that will list your property at a smaller commission. You sit on the market for 6 months when it expires. You then decide to hire an agent that will aggreesivly advertise and professional promote your property, but now you have lost 6 months of marketing time. You are probably going to end up taking less because now you have lost so much time on the market. Buyers will wonder what is wrong with your house.

I hope this information helps! Good luck & Best Wishes!

Tue Mar 18 2008, 18:34

Eddie
I'll sell your homeo for FREE! Would you list with me?
No way. You want to NET the most when you sell, so you need a good negotiator, right?

You think that if you pay less commission you put more in your pocket, right? Let me ask you...what if you are wrong?
We receive questions from people all the time and you should know these facts:
As a rule, limited service/MLS only brokers sell homes:
-have a lower sold price versus asking price ratio. In our MLS the difference is 97.6% versuis 93..4%
-have a hire expiration rate...meaning that the listing does not sell. 30% higher
-they take longer to sell.

So I strongly recommend interviewing some Realtors. Have them perpare an estimtae of seller's net proceeds. You need to do your homework and select the best Realtor. If your market is down trending, you need a pro that can be honest with you and get the job done. And an excellent negotiator is not going to be cheap...that's why they are good at what they do.

Let us know what happens

Tue Mar 18 2008, 18:23

I Heard Spitzer is looking for work.....So is Rev. Wright...

That should be good for at least to down votes.... But I gave Deb one up to cancel the previous down. That is 2 from me to you today Deb. One more and I officially become a trulia stalker.

Gary De Pury

Tue Mar 18 2008, 08:06

LOL Elvis..............yes, I agree.....I wear by badge w/ pride!

Tue Mar 18 2008, 07:28

Pay it no heed, Deborah.

A thumbs down, these days, is almost a "badge of honour", an indication of a "drive by thumbing".

Street Cred!!

Tue Mar 18 2008, 06:50

Interesting that my response gets a thumbs down. I offered no criticism of any choice to list at 4%.....and many full service agencies are beginning to offer a scaled down service option for clients at a reduced rate. I have no criticism of this. My comments and post only stated to gain an understanding of what you would receive or what you might not so that you could make an informed decision. Of course, it may not be Eddie who provided the TD to any agent who suggested that a higher rate might generate a different level of service or representation.

Our company offers a discounted service, but we don't place those listings in expensive priority premium positions. I show sellers the difference in web hit rates with and without these premium paid positions. I am happy to represent a seller without these, but I do want my sellers to make informed choices. I don't want a seller to enter a contract for limited marketing and later wonder why the options were not explained to them.

I guess the TD bandit is out to TD any and all answers on this thread that candidly address the fact that the services provided at different rates may vary.

I stand on my first post and advice.... A seller is free to choose the level of service that best fits his/her needs and consumer choice is a wonderful thing. I advise sellers, however, to make informed choices.

Tue Mar 18 2008, 06:47

Sounds like you need to go back to Florida.
One gets what you pay for. Do you go to the BMW dealership and say, "I just came from the Ford dealership and saw a car with four wheels for $5000.00. Can you give me a new one here for the $5000?
Compare apples to apples...if you want someone to just put your house on the MLS is one thing...but another if you want them to market your home and show up to more than a closing.

Tue Mar 18 2008, 05:52

All commission is negotiable- it's quite possible that you will be able to find a highly competent agent that is willing to work within your request- particularly if your property is priced to sell. Good luck!

Tue Mar 18 2008, 05:18

I understand your thinking that a lower commission will save you money. Unfortunately this is one of those cases where you get what you pay for! The market here is a buyers market and nowhere near the state of the market in Florida. Because it is a buyers market and a little sluggish, it takes a great marketing plan and often a lot of extra advertising and work (& money) to get a house sold. I would suggest talking to different realtors: at least one who will only accept the usual 5 or 6%, then one who will work for less. Then compare the two!

Tue Mar 18 2008, 03:27

You will probably receive replies from agents who will accept a 4% commisison. I would advise you to compare those marketing and representation packages to others which may carry higher fees, or lower fees. A complete review of your options will allow you to make an informed decision of what is best for you. If you don't know what is available for a lower or higher fee, you would be making a decison based upon limited scope.

Good luck

Mon Mar 17 2008, 22:07