Home Selling in Michigan>Question Details

Zen, Home Seller in Michigan

looking to sell a house in Novi MI. How much commission does a realtor usually charge and how do I choose?

Asked by Zen, Michigan Wed Feb 20, 2008

one who is trustwothy and good. Does living on the main road help or impar sales??? Also have well water.

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Being in the mortgage industry, I work across the table from listing and selling agents every day so allow me to weigh in with my two cents. While it is true that commissions are negotiable to a small extent, a typical commission is usually about 6% (split between the listing and selling agents).

I'd caution against using commissions charged to decide on your realtor since the saying,"You get what you pay for" rings true in this business. As in any business, the people who are the best at what they do demand to get paid for it, and at the end of they day their price will be reflected in the VALUE of the service they provide.

My best advice in locating a good, trustworthy agent is to first put together a list of the needs most important to you in an agent (market knowledge, availability, marketing objectives, etc). Then from there seek out referrals from friends and family and interview a couple then work with the one you are most comfortable with.
1 vote Thank Flag Link Wed Apr 23, 2008
Zen, I have to agree. Interviewing at least a couple of different agents in the area is always a good idea. You have to make sure that between you and the agent that you can work together. It really is a two way road. I know when I talk to sellers I tell them right up front I can't tell you how other agents work, but I can tell you how I work. We all have our own experiences and own personalities to bring to the table.

In regards to the main road. How main are we talking? A busy two way street or are we talking more of an expressway? I usually plan on houses being priced lower if they are on a main road and depending on how much of a main road you are talking about. (I once heard a statistic that a house on a main road should be priced $10,000 - $12,000 less than other comparables in the area.)

Honestly Zen, I do not necessarily agree with the others that think that you could sit a lot longer because it is a main road. If a house is priced right (price it in accordance to the fact you are on a main road) and is the prettiest penny on the block...it will sell! I have sold plenty of houses on main roads! In fact, I had one that sold in just 14 days last winter and others that sold in 2 months or less because they were nice houses that were priced right.

I hope this information helps! Best Wishes to you!
Web Reference: http://www.gomelinda.com/
1 vote Thank Flag Link Mon Mar 24, 2008
Hi Zen - I specialize in the Novi area. Your best bet is to interview at least 2 agents to talk with them about their marketing plan (exposure for your home), time on the market, pricing and their experience getting homes sold. Make sure you are comfortable with the agent you choose, you will be dealing with them closely selling probably your biggest investment.

Living on a main road is not impare your sale, although it could make for a longer market time. Every house takes the right buyer. If the home is priced right and shows well, you have a better chance at getting the home sold. I would be happy to discuss my commission and marketing plan in a private conversation. Good luck!

Nicole Sleeva
nsleeva@cbpreferred.com
Web Reference: http://www.NicoleSleeva.com
1 vote Thank Flag Link Wed Feb 20, 2008
To price fix a commission in Michigan is illegal. Commission is ALWAYS negotiable. Commission CANNOT exceed 10% or it is considered USARY & is against the law. A real estate agent whom informs you otherwise is lying & stay clear of them. Select an agent with a REALTOR designation. Also choose an agent you are comfortable with, one you feel is honest, has integrity & is looking out for YOUR best interest, not their own.
0 votes Thank Flag Link Thu Apr 24, 2008
Good afternoon Zen,

Are you a Wolverines fan or a maybe a Buckeye fan..?

Commissions are very negotiable with agents - very.!

It's been a long cold winter and most agents haven't had a decent closing in 5 or 6 months - not your problem.

You need to find an agent you like and trust ...

You'll need to interview 4 or 5 agents to find out their experience and history, make sure you talk to their last 10 clients and hear what they say .. and one that will work for a flat fee or 2% or less and never paying more than 3.5/4.0% for your listing agent and the buyers agent - total.

You always hear "you get what you pay for" ... right now there is thousands of good quality agents looking for a job, so don't get intimidated by sales pitches .. basically what they're saying is, the more they charge the better the experience..? .. the last 5 million buyers will aggresively argue that point .l.o.l...

This is a buyers market all the way around, so as you interview for your new agent make sure you also negotiate a better commission ... or they can sit at their desk and get none at all - simple.

Good luck.!
0 votes Thank Flag Link Wed Apr 23, 2008
There are no set commissions. They are always negotiable. When selecting a Realtor, it is important to pick someone you are comfortable to work with and respect their expertise. I would suggest you interview 2 or 3 Realtors. Discuss what is important to you and what you expect from them. See how they are going to market your property. Remember this is a partnership. They are there to work not only for you but also with you to get your house sold. Do what they suggest to stage your home and remember they are the expert. That is why you called them.
Web Reference: http://www.YvonneJacobs.com
0 votes Thank Flag Link Wed Apr 23, 2008
I suggest interviewing 2 or 3 agents in your immediate area. You should review their marketing plans and experience and success. There is no set commission, so you'll have to talk to each individual agent about their listing commission and weigh the whole picture of what they offer. You get what you pay for!

Contrary to what Tman says, commissions are not "very negotiable" with every agent. I charge what I charge, period, and it is worth it for what I offer and for ultimately selling your home. It's also NOT been a long cold winter for everyone, and I wouldn't suggest listing with any agent that hasn't had a closing in 5 or 6 months!! I'll say it again, you'll get what you pay for, so if you pay what the Tman is suggesting, you may as well not pay at all and go FSBO!
0 votes Thank Flag Link Tue Apr 15, 2008
Zen, I recommend reading "Who's The Best Person to Sell My House". This booklet walks you through around 30 different items a real estate professional can provide to market your home, explains various choices you have from selling yourself through working with a full-service company.
There is a check list for agent "A". "B", and "C" with the choices.

Real estate professionals cannot discuss "commissions" and fees it might be considered collusion which is illegal. Bottom line, there are many different business models to choose from. Interview, interview, interview. And get everything in writing including agreed upon advertising and amount that will be spent advertising (if possible).

Main road? This might depend upon your driveway layout. Well? I just spent $2,700 on a replacement pump this summer. I prefer a well, some buyers may shy away from both a main road or a well.

I agree with Nicole, every home needs the right buyer. If you were thinking about purchasing your home, in it's current condition, and an extreme buyers market, what changes would you ask the sellers to make? In this market, the most successful home sellers are those with the ability to think like a buyer.
0 votes Thank Flag Link Wed Feb 20, 2008
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