That's going to depend on the language in the marketing agreement you signed with your Realtor. The answer to your question is in the contract you signed.
In most cases, unless you wrote in an "exclusion" for a prior viewer, most of the marketing agreements require that the seller pay a full commission, even if it's someone who looked at it before.
technically, your realtor probably isn't a dual agent... rather the buyer is "unrepresented" (as you say), but since they're unrepresented, there is no buyer's agent to pay, and according to the contract you probably signed, if there's no buyer's agent/agency to pay, they get to keep the full commission.
So while they're not really a dual agent... they do get to keep both sides of the commission.... more
Decluttering should be the first step for all homeowner's thinking of selling their home. Opening up the space of extra "stuff" makes it feel that much bigger and preps the home for the next steps of staging and painting. Painting a home in neutral colors such as egg-shell colors keeps it feeling light and airy. Sticking to the same color palette throughout each floor will give it a nice flow that some homes lack. So, yes, Frank, painting a newer home will definitely add value.... more
Without a doubt good professional staging, will create what I call the Wow Factor. The better the Wow Factor the greater the possibilities for a sale. Also important is that the appropriate repairs are made to the house. A good staging will be devalued if the prospective buyer grabs a door knob and it falls off. Staging and in good repair makes a huge impression.... more
Speaking of inventory. Reports as recently as last night detail how much the real estate market has changed in the past few months. Segments on both NBC Nightly News (Tuesday) and CBS Morning News (Wednesday) reported how real estate sales in some markets are heating up. In fact, in some places the market is scorching hot.
The CBS report of March 27 said sales have increased 8 percent nationally and by even more in California. Their segment concentrated on California. In Los Angeles, properties are being swooped up almost as soon as they come on the makret. It told of one investor who purchased a duplex for $600,000 (cash) and had plans of selling it for $850,000 after fixing it up a bit.
There are a ton of buyers in the LA market and competition for each property is fierce. It told of one couple that has been trying to purchase a home for a year. They made four offers, the last two above asking price, yet were outbid each time. IN LA, the report said homes are selling twice as fast as they did last year and real estate agents say 100 people at an open house is the norm. Wow!
The Nightly News report also spoke of the change. It told of how a shift has occurred in the attitude of people on home ownership, with 79 percent now preferring to own a home. That attitude has fueled the fastest pace of homebuying since 2006. Remember the reports from Las Vegas showing the thousands of foreclosed homes and homes for sale when the real estate bubble burst in 2008. Well, the Nightly News said large investors are buying everything in sight.
What does that mearn for buyers and sellers in Bucks County. Well, trends from California tend to head east. If you are a buyer, get out there and get in the game before prices and interest rates begin their inevitable climb upward. If you are a seller, the message is just as simple. Now is the time.... more
William I just gave a thumbs up to you. Sometimes a seemingly simple problem can be very complex. I have been openly against dual agency since my first month in real estate in 1980. Even as a green agent, I couldnt see how it could be allowed.
I once listed two homes within three days. I had both sets of sellers in my office and we were all talking about some event in town when they saw each others homes on some advertising being prepared. It was love at first site for each! They simply deeded each home to each other and I charged each one 2.5% Even at that, they both made light comments about what 'easy money' it was for me but had no problems with it and didnt ry to negotiate. I could have held out for 5% each. I guess it boils down to what you consider fair and how much work has to be done. If you divide the commission by the low hours spent, you are pulling in mega bucks per hour. I know we all have expenses but come on.
That said, Ucar, there is a value in all the events that lead to this transaction. It wouldnt have happened if the cards had not played out that way, and another way to look at it is you are LUCKY not to have had to go through all the normal marketing, wondering, negotiating, etc. The agent has to represent you and make sure all goes well. How much would that cost if you paid a lawyer $250 an hour?
Im sure you both can reach a reasonable and equitable agreement on fees if you both subscribe to the Golden Rule.... more