Can sellers negotiate commission on higher priced houses like in Hyde Park?

Asked by Jshome, Hyde Park, Cincinnati, OH Thu Sep 10, 2009

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Norma Palazz…, Agent, Cincinnati, OH
Thu Sep 10, 2009
Everything in real estate is negotiable. That being said, a seller would be wise to talk in depth with any agent they interview to see how up to date they are on marketing. You want an agent who is well educated in what it takes to sell a property in this market. Knowledge of trends and statistics is more important now than ever when it comes to marketing your home. You need an agent and broker who are up to date and out in front when it comes to knowing where the buyers are and how to attract them. We go where they are.
When you are ready to begin the process call me. I have the expertise to put your property in front of the largest pool of potential buyers.
1 vote
Doug-Lona Le…, Agent, Fort Myers, FL
Thu Sep 17, 2009
In the Real Estate world everything is negotiable! Make any Real Estate Professional prove why they are worth what they charge. There are "Surveys" out there that say a Realtor will bring you 12% more on sales price than if you sold your home "For Sale by Owner". Statistically, I can't see how they could possibly come up with that number. I think the same house would have to sell twice in order to come up with that, however, there is truth to it. The key is to create "Demand" for whatever it is you are selling. The more demand, the higher the price. A good Real Estate professional should be able to demonstrate how they are going to create that demand for your home, as well as negotiate on your behalf. Good luck!
0 votes
PH, , Griffith, IN
Thu Sep 10, 2009
Absolutely!

(I'd leave it at that but Trulia requires at least 15 words or the answer won't post)

Please keep in mind sometimes you DO get what you pay for. I just answered another question about why some homes appear numerous places and why some appear just on the MLS and Realtor.com. My clients homes appear on at least 40 websites in the first 24 hours. I provide VALUE in my services.

If you want an agent that only cares enough to put a sign in your yard and a listing on the MLS then go ahead, get the cheapest one. I've never searched for the cheapest dentist, and I wouldn't search for the cheapest lawyer if I was charged with something serious. If you choose a professional you should not expect KMart prices. (I love KMart but not to buy real estate)

This is the BIGGEST investment of your life! Do you want the least expensive REALTOR(R) or the best one?

I can help you find a good agent in your area if you believe that, despite my somewhat hard hitting approach, I am making some sense. I have contacts with professionals all over the country -- and I only bother with the ones who work as hard as I do.

Pamela Howell
REALTOR(R)
Technology Committee Chairperson
Keller Williams Realty Leaders
219-201-0500
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Sep 10, 2009
Each Realtor works within their own business plan it depends on what is involved luxury homes require more attention from a listing agent work with buyers agent meet their clients on property, show all home features and etc. Luxury homes are demanding on listing agent.

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911
Web Reference:  http://www.lynn911.com
0 votes
Tracy Johns, Agent, Cincinnati, OH
Thu Sep 10, 2009
Yes, you can. The real estate community has a host of options regarding marketing and cost. You could choose to pay less for anything (be it a house or a service) but you don't always get what you really wanted. If you look at it as a flat fee and compare from one agent/agency to the other, the differences become more quantifiable.

You chose to live in Hyde Park versus, say, Pleasant Ridge. And I'm sure you got more of what you really wanted because of that decision. Just like when buying a home, shop around and find who has the best to offer you for what you want to pay for it. Sometimes you do end up paying more to get what you really want, sometimes you don't. You won't know until you check it out. Which of your options will be more likely to get your home sold in the time frame you need?

If you'd like explore the sale of your home further, please come back to Trulia for more insight. Or give me a call/email to discuss it one-on-one.

Tracy Johns
RE/MAX Unlimited
tjohns@one.net
0 votes
Jim Basquette…, Agent, Cincinnati, OH
Thu Sep 10, 2009
You can negotiate commission on any price home, but the real question is "should" you.

Most people look lor low commissions because the assume that by paying less, they get to keep more. Although on the surface this makes sense, this is usually a false assumption. Why? Because with less commission something has to be left out, something that will cost you in the sale price.

Most often this is marketing, discount and many other agents put you home in MLS, put up a sign and hope someone sells it. Really good agents who specialize in listings (marketing homes) do much much more and it's this additional exposure that gets you more for your home, more than the 1 or 2% you can 'save" by using a realtor who discounts commission. Ever been to an auction where there were very few bidders? Prices stay low

The next thing to be reduced is the commission offered to the other 6,000 agents in the Cincinnati MLS who most likely bring a buyer. Do you really want to lower their incentive to sell you home over the thousands of homes on the market?

The third place is the commission the listing agent gets to keep after paying marketing expenses (if any) and the agent who brings the buyer. You don't want to decrease theitr incentive either.

Negotiation after a buyer if found is also an opportunity to cost or save a seller money. Hiring an agent who is a CNE (Certified Negotiation Expert) can easily make sellers another few percent of the sale of their home

Consider that an agent who is easily able to negotiation their commission down is not the best person to negotiate on your behalf with a buyer.

Picking the right agent is much more important that getting the lowest commission.

Click the like below for an article on "How Sellers Should Choose a Real Estate Agent" If you have additional questions about my reply see http://www.JimSellsHomes.com
0 votes
Bill Eckler, Agent, Venice, FL
Thu Sep 10, 2009
J,

Absolutely.......

Remember however, "you get what you pay for" Sellers should carefully consider the range of services provided by their agent and his/her company. Be sure to request a written copy of a comprehensive marketing plan for your specific home.

Good luck
0 votes
Jennifer Cox,…, , Cincinnati, OH
Thu Sep 10, 2009
right on Matt! There are discount brokerage opportunities if that is a good fit for your scenario. There are full service agents and "discount" agents within the traditional brokerage firms. However, the agent you ulitmately select to market your home should have a written, proven plan to give your home the most exposure to market. The "cost" to the seller to have the best should be the least of the seller's concerns in this difficult market. Even in Hyde Park, the homes need exposure, marketing, and the right price! Our 120 Point Marketing Plan shows what we are going to do....then we do it!
Web Reference:  http://www.realcincy.com
0 votes
Ron Morrison, Agent, Ayer, MA
Thu Sep 10, 2009
Commission is actually the last thing to be concerned with. You should hire a Realtor who is both competent and a good listener. Once you find that Realtor, the commission is always worth it.

http://www.eramorrison.com
0 votes
Matt Clark, , Cincinnati, OH
Thu Sep 10, 2009
Everything in life is negotiable, but you will get what you pay for..
Ask your Realtor to show you all the services they provide for that commission rate.
0 votes
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