Negotiating costs (listing, selling, etc) for home in 27707. Suggestions?

Asked by DJ Waldow, Redwood City, CA Fri Dec 26, 2008

We are looking to sell our home in 27707. Hoping to list in Feb/Mar for a sale/close no later than July 1, 2009. However, I know of a few possible buyers. Can I negotiate (down) a few of the costs of listing/selling the house assuming I find the buyer?

DJ Waldow

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Michael Colv…, Agent,
Fri Dec 26, 2008
BEST ANSWER
Hi Dj
I would be happy to sit down with you and help you understand the cost associated with selling your home. I live and work in Durham and know our markets very well. I would suggest that we get your home ready to sell and listed and we can draft the agreement in such a way that if the people you name purchase the home we would get a flat fee for the transaction or a smaller comission, that way if we bring you a better "buyer" meaning you would net more even paying our full comission you could choose the one that nets you more money. Please contact me through my website.
Thanks, Michael
Web Reference:  http://www.colvinm.hpw.com
0 votes
, ,
Fri Dec 26, 2008
Dear DJ,
I suggest negotiating with your potential buyers before you contact a realtor. Most experienced realtors will not want to do a non-exclusive contract that will allow you to compete with them. When I work to sell a home, I give 110% and that would be difficult to do in that situation. If you have buyers for your property, you do not need a listing agent but you may be asked to pay for the buyer to have buyer's agent.

Real estate fees are always negotiable. Most importantly, be sure that you know what you will get for your money. There is a large range of what realtors will do for you. If your home is in top selling condition and priced to move, a sign in the yard and listing on the MLS may be all you need. If you need help with preparing your home for sale, staging advice, advertising and marketing expertise; be sure to hire someone with a good track record.

Good luck!
1 vote
Scott Godzyk, Agent, Manchester, NH
Fri Dec 26, 2008
Everything is negotiable. with most agencies you can have a contingincy in your listing that commission is cut in half if you find a buyer not ontroduced to the property by the listing agency and a buyer who is not represented by another agent. Commissions are negotiable howvever most other sellers costs are fixed such as transfer taxes, preparing the deed and courier fees to pay off your mortgage. good luck with your sale DJ
Web Reference:  http://www.ScottSellsNH.com
1 vote
J R, , New York, NY
Sat Dec 27, 2008
I would contact those potential buyers now.
0 votes
Sonja Babic, Agent, New Bern, NC
Sat Dec 27, 2008
DJ when you sign a listing agreement with the agent you can at that point exclude potential buyers that you might have. Make sure to have the names written in to the listing agreement and if you ménage to sell it to one of the listed prospect you will not have to pay any commission.


Your North Carolina Broker
Sonja Babic
252-617-0861
http://www.SonjaBabic.com
Web Reference:  http://www.SonjaBabic.com
0 votes
Keith Sorem, Agent, Glendale, CA
Fri Dec 26, 2008
DJ
Most people sell the homes in the spring, try to close by the end of June so when the kids are out of school they can move to their new town and have the moving completed during the summer, ready to the fall school season to begin.

Most home owners want to maximize their profits and minimize their costs when they move. I am amazed at how many home owners, selling one home and buying another, think that they can do a better job than an experienced Realtor. You are asking US for help, which is a step in the right direction, however the advice your have so far is from people that do not know three important things: Your local market values and trends, your personal situation (when you need to move, how much you need to net, where you are moving, etc.) and your home. Doesn't it make sense that someone who is real professional would want to analyze your situation FIRST before offering advice?

Here are some suggestions:
1. Talk with a couple of Realtors and compare their proposals. I would be happy to refer you to a top Realtor in your market that will sit down and assess your situation.
2. The truth is that in most markets only about 20% of homes sell for top dollar. 80% are not properly prepared for market, not marketed to expose their value, and priced incorrectly. So as a home seller that means that if 80% of the Realtors and having problems selling for top dollar, how do you find one of the Realtors that IS in that top 20%?

That is why I offer to refer you to a top Realtor. In most markets the Top Realtors know the market values and trends, what buyers like and how much they will pay. Their value to you is in the proper preparation, marketing, and then negotiating the best terms.

I'll give you an example. I was trying to help a family relocate for California to Tennessee, and was told that they did not want to sell unless they could net at least $400,000, which would means listing it at $500K minimum. They had their eyes focused on their current home. and it was never going to sell for the amount they wanted. So why they were worried about their home here (and it needed a lot of work), they also wanted to save on commission. During this time of preparation procrastination, and negotiating, the market in our area shifted. They finally listed their home for $450K, it sold for $409K, after sitting on the market for four months.

In the meantime, I had an agent in the destination town keep me up to date on the local market trends. While the California market was declining, Tennessee was going UP. So they "saved" money on the commission, lost over $50-$65K by not moving forward, then lost more because the prices had increased 10% while they were trying to sell.

Experience and market expertise will save you and make you more money in the long run.

Good luck, and Merry Christmas!
0 votes
Dallas Texas, Agent, Dallas, TN
Fri Dec 26, 2008
You can list your buyers where they are excluded or an open listing of whoever brings in client with executed contract if listing agent does they earn commissions, if you do listing agreement is canceled.

However keep in mind listing agent would not be representing you in sales contract thru closing you would need to follow the state statues of selling a property.

NOTE: There are some flat fee listing agents search for those agents would be a cost savings you follow under their e & o insurance. Could save you $1000's at closing
Web Reference:  http://www.lynn911.com
0 votes
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