What is the average price of a Realtor in Louisville & in what ways can they help you?

Asked by Kamry11, Louisville, KY Mon Jan 13, 2014

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Nicolas Ellis, Mortgage Broker Or Lender, Louisville, KY
Wed Jan 15, 2014
The average price of a realtor is between $0 and 3%. I promise you that you can find a real estate agent who would reduce their commission on either side of the transaction. There are discount listing agents, discount buyer agents and everything inbetween.

The question you must ask yourself is 'What is my agent worth?' The top 20% of real estate agents and their respective teams are worth the standard commission especially if you have less than 25 real estate buys and/or sells under your belt in the same metropolitan area. An exampe: I have over 35 personal buys and sells under my belt; I still utilize a top 20%% Realtor in all transactions except for commissioner sales. There is always something new, something different and something quirky about each transaction that I want the expert advise and guidance to help me thru.

The main ways that the top agents help you and earn the full commission without discounting in my experience are: 1. Seller discrepencies in their disclosures 2. an E&O policy if you were missinformed 3. A buffer between me and the seller in case I was to say/ do something unintentionally that could harm myself- they catch you 4. alert you to areas of concern in each transaction ('maybe you should think about a structural opinion on this house'- ex) 5. A working knowledge of ways to craft the negotiations that you may not have known about

In a perfect world we would be able to buy and sell a house all on our own; this perfect world is shattered when we introduce less-than-honest individuals or homes that have unknown issues beyond the seller's knowledge.

We've all heard the phrase 'You get what you pay for.' and that includes real estate sales.

Find a top realtor that you feel comfortable with. Ask for their credentials and a snapshot of the sales they've performed in the past year. Found a newer agent you feel comfortable with? That's ok, inquire about their mentor in the business.

The same will hold true for your home inspector, mortgage planner, insurance agent, etc.. Surround yourself with top professionals, have yourself a written game plan for yourself and enjoy the journey!
Nick Ellis, CMC, CRMS, CDPL
Benchmark Mortgage Branch Manager
0 votes
David Pauley, , Louisville, KY
Tue Jan 14, 2014
Real estate agents earn a commission from the sale for homes that they list and/or that they help a buyer find. Your real estate agent will help you identify the area(s) of town you would like to live and help you identify the amenities you would like for your home to have (garage, finished basement, number of bedrooms, large lot, etc.). Your real estate agent will work with your loan officer and the closing agent/attorney to help make sure that process moves as smoothly and quickly as possible. Your real estate agent will assist with any inspections along with the appraisal.

Buying a home is one of the most stressful, but exciting times someone can go through. That's where your real agent helps you. They help eliminate the stress and let you enjoy getting into your new home.
0 votes
Kamry11, Renter, Louisville, KY
Mon Jan 13, 2014
I am looking forward to paying off a property then renting it out, so will the Realtor help me find a profitable house to flip and find trust worthy tenants?
0 votes
I think it is very important to consult with a Realtor about their knowledge and experience with income producing properties. There are various types of investors-I have helped my clients purchase homes to flip and purchase homes to hold and lease. Call or email to discuss.
Flag Tue Jan 14, 2014
If you hook up with a good one they will. I work mostly with Realtors that are Buyers reps and get to see the purchase contracts and appraisals. Some are aggressive. Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Flag Mon Jan 13, 2014
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