Brandi, Home Owner in Milwaukie, OR

Hello. I am thinking about trying to sell my house in 2011to be by family. What are the typical realtor/selling fees I need to calculate in?

Asked by Brandi, Milwaukie, OR Tue Dec 21, 2010

I am trying to calculate how much I would need to sell the house for in order to see if I think it is even possible and have no idea about realtor commission and fees associated with selling my house. any rough averages would be helpful.

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9
Gina Masters, Agent, Lake Oswego, OR
Mon May 9, 2011
Realtor commissions are negotiable. You could call a title company & ask for a Sellers Net Settlement Statement, you will need to provide a purchase price for them to use in the calculator. It's going to be an "estimate" , but gives you an idea of what to plan for.
0 votes
Craig Loughr…, , Oregon
Wed Dec 22, 2010
Hi Brandi,

As you've already been told, fees vary by the property being sold, and usually by the price of the property. Some other factors affect the fees and closing costs associated with selling a home.

Here's an example of the seller fees paid in a recent transaction of mine:

Home Sale Price................ $240,000

Real Estate brokerage fees..... $ 12,000
3rd party adminitrative fee.... $ 2,400
Owner's title insurance........ $ 520
Escrow fee..................... $ 450
Deed preparation............... $ 50
Government service charge...... $ 50

These fees could be higher or lower for you because other charges or credits could apply that were not applicable to the seller in the above-referenced transaction. Examples include charges or credits for property taxes, property repairs, buyer closing costs, etc.

If you would like additional help figuring your specific sale costs, please fee free to contact our office. I will be glad to assist you at no charge.

Happy Holidays!
Web Reference:  http://www.bybryson.com
0 votes
Frank Dolski, Agent, Lahaska, PA
Wed Dec 22, 2010
Hi Brandi,
The typical rate is 6%. Half goes to each broker. But they are negotiable and typically run between 5% and 6%. Do be careful of "low cost" commisions as you pretty much get wghat you pay for and I could tell you many horror stories. Do contact me if youy would like any assistance as I can help you pick the top broker and agent in your area and anywhere in the U.S. I just referred a couple who was buying in your state over the summer.

Best Regards,

Frank Dolski MBA, ABR, e-PRO
Associate Broker
CARTUS Certified Relocation and Marketing Specialist
Coldwell Banker Hearthside Realtors
215-803-3237
215-794-1070 x103
f.dolski@cbhearthside.com
Web Reference:  http://www.FrankDolski.com
0 votes
June Lizotte,…, , Portland, OR
Tue Dec 21, 2010
Hello Brandi,

As you've heard, rates are negotiable. Your net proceeds will be determined on the realtor fees, your portion of the closing fees and the amount of your existing loan payoff. If you would like a net sheet prepared, please consider a consultation with a professional. Typically as a seller, you would do well to contact a couple of agents to speak to them concerning their marketing plan and suggested list price, then choose the one who makes you feel the most comfortable. I would love to be considered when you are ready to proceed with your plans. I live in Milwaukie and have my business practice in Milwaukie. It would be a pleasure to meet with you and discuss your potential sale. Any Realtor you interview should offer a market analysis to give you an idea of a reasonable list price, give you a brief description of their marketing plan and prepare a net sheet for you so you will understand how much you may be able to negotiate.

Keep in mind, when discussing fees; don't just go for the lowest listing fee when choosing a Real Estate Professional; any agent who is working hard is going to help you understand that this market is a tougher market to attract buyers. For this reason, all marketing efforts must be increased requiring more time (these hours are valuable to a realtor). You need an agent who is willing to put in these hourse to get your listing sold. We must be involved in pursuing all the resources on the internet (where most buyers prefer to find their home). If your Realtor proves they will be working hard weekly and providing accountbility and communication you can move on to your next destination sooner, thus making their time investment and negotiation expertise well worth the fee. You also need a realtor who will give you a true picture of the market and sometimes the cold hard truth is hard to hear, but be prepared to listen to market facts and put your emotional ties to your home aside when considering what the market will allow (regarding what a buyer will realistically pay for your property.

All the Best and Merry Christmas!

June Lizotte, Principal Broker, GRI
June Lizotte Real Estate
Providing REAL Service
503-310-8032
june@junelizotte.com
Web Reference:  http://www.junelizotte.com
0 votes
Dallas Texas, Agent, Dallas, TN
Tue Dec 21, 2010
Best confer with listing agent to comp your home, mortgage / tax/ insurance/ pay off's, closing costs, Realtors fees. Agent fees may vary based on each professional business plan and broker agreement

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Dennis Skoro, Agent, Portland, OR
Tue Dec 21, 2010
Hi Brandi - "typical" Realtor fees run from 5% - 7% (which covers both your listing agent and the buyers agent fees). The commission is negotiable, as mentioned below. Some of the determining factors will be the marketability of your home, extra bells and whistles to make your listing stand out, offering a higher commission to the buyer's agent to try to get more showings, etc. As for selling fees - there will be fees for the seller at the Title Company, possibly property tax prorations depending on the time of year you sell, and potentially contributions towards buyer's closing costs.

As you can see, there are alot of variables that are hard to fine tune without know more about your home. My office just moved into a beautiful building on Lake Road in Milwaukie today, so we are right in your neighborhood. My team would be happy to sit down and talk through some options for you and give you a ballpark value for your home. We can also have our favorite Title Company run an estimated closing statement for you to give you a fairly accurate set of figures - which would hopefully give you some good info to help you make some decisions regarding selling your home. And - there's no cost to you for us to put all of this together.

My team would love to help!

Kelly Gebler, Principal Broker
Cornerstone Group NW @ Keller Williams Realty
0 votes
The Stephen…, Agent, Portland, OR
Tue Dec 21, 2010
We can't give out averages by law. However, feel free to check out my website for a fantastic rate and service package. You'll need to look around some. Don't consider the price alone, compare price verses services to see who comes out on top.
0 votes
Jennifer Dod…, Agent, Santa Rosa Beach, FL
Tue Dec 21, 2010
You best bet will to contact a few local agents and compare rates. Brokers rates are highly competitve and there is no normal rate for listing and selling your home. (We are strictly prohibited by law from disclosing a going rate for our services, lest it be construed as price fixing) Some agents will also price shop other closing costs like title companies, etc for you. I have found that shopping closing costs can save a seller $100's to $1000's of dollars at closing. Of course the total cost will depend on how much of the closing costs you are willing to pay for you buyer. Typical closing costs for a buyer without downpayment can be between 5% - 10% of the purchase price. If you can appraoch it differently and decide how much closing costs you are willing to pay and then negotiate brokers fees with the listing agent, then have them negotiate closing costs with the buyers for you.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue Dec 21, 2010
Commissions are always negotiable between you and your agent--there are no set standards as it would go against Federal Laws--in particular the Sherman Antitrust Act and Clayton Antitrust Act--therefore consider interviewing in person a few agents, or as many as needed from different realty offices, then choose the one you like best and the one who has the most to offer--choose your agent with care. Keep in mind that if two agents are involved in the transaction, the commission is shared.
0 votes
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