It's crucial to make sure the "buyer's" agent is offered a typical commission. So if you have a Realtor offering to sell your house for only 3% yet the Buyer's Realtor will only get 1.5% I can pretty much assure you that the Realtors working with CASH investors that are willing to pay ABOVE a price your property can actually appraise for will NOT likely even make an offer. These investors make offers sight unseen and pay ABOVE a price a typical buyer would pay. So don't fool yourself into thinking that saving 1.5% is NOT going to cost you MORE than 1.5% in offers. Also cash investors will close quickly, no financing nonsense. So don't shoot yourself in the foot. Now that is not to say that you can't find a highly qualified Realtor to discount the "listing broker's" side of the equation. So offer 3% plus pay 1.5% on the listing side (unless your property is worth less than $150k then offer $2k to the listing broker) or if you're a Do It Yourselfer you can get a flat fee listing Realtor. You MUST be VERY careful with doing it yourself though because a smart buyer will and do often take advantage of rookie sellers. A typical Florida Assn of Realtor contract may obligate you to pay an excessive amount for repairs "after" you sign the contract. If you're in an HOA or Condo and fail to get the correct disclosures the buyer can tie up the property and then back out the day before closing! These are just a few examples of being penny wise and pound foolish. So if you're prepared to do a lot of homework you can go it alone, or you can always hire an attorney to negotiate your contract and protect your interests but that may cost even more than paying 1.5% to the listing Realtor/Broker.
Another suggestion is to look at how an agent's listings appear on the Real Estate websites. Realtor.com requires a Realtor to pay extra fees to have an enhanced listing. Some agents will upload really bad photos, too. It's amazing what you will see online.
So good luck and to tell you the truth, the reason why I became a Realtor back in 2000 was I had to sell a $650k property and I sure as heck wasn't going to pay 6%. I found a very nice flat fee Realtor and she ended up finding the buyer and she made $18k and we saved $18k so it seemed to be a win/win. Looking back I think we may have sold a little higher (maybe $30k higher or more) because I don't think that Realtor was a member of the MLS for Seal Beach (California) so Realtors couldn't easily find our listing! So just be careful and don't just jump at the first lowball offer to sell your house... do your homework!
If you offer 3% (with at least $2k going to the Buyer's agent if this is a lower priced property) then you will attract the most enthusiasm by Realtors.
All the best,
Alma Kee, Tampa
I was able to challenge and change (lower) taxes on one of my properties.
I used a company specializing in challenging Tax Assessments.
Call me and I'll give you the company' contact info, if you wish.
They will be able to tell you, upfront, if you have any chances....
Meir Aloni & Team
CRS (Certified Residential Specialist)
CDPE (Certified Distressed Property Expert)
RECS (Real Estate Cyberspace Society)
Successfully selling Broward County since 1986!
Direct phone# 954-338-5220 http://www.WeSellBroward.com