Home Selling in 19010>Question Details

Marjecat, Other/Just Looking in 19010

What would the broker commission be if I chose to sell my property for the lot, house "as-is"?

Asked by Marjecat, 19010 Mon Dec 21, 2009

My house sits on 2 flat acres, it's 57 yrs old and we are not going to make any improvements because we know it's a teardown. We want to sell to a builder.

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There are two ways homeowners like you get the word out that you are selling your property for the value of the lots. The first is to contact a listing agent who works with builders and let them quietly shop your property to the builders. Typically, if a real estate agent finds a great lot for a builder, the builder will reward the agent with the listing on the out sale of the new construction. The second way is to actually list the house with an agent (like me), and give builiders and the general market a chance to purchase the property. You simply list the property in, "as-is condition" and then your agent will handle the rest. You will not have to deal with the negotiations directly. You will be paying your agent to buffer you from the stress of dealing with the buyer. The beauty of listing is that you are widening your target market. Right now builders are finding money hard to come by. Banks have tightened up on construction loans. Private individuals are buying properties like yours and renovating and/or rebuilding for themselves. There was a property off of Lafayette Road in Bryn Mawr that sold in a week that sounds similar to yours. I would be happy to forward you the information on that property. My cell is 610-608-3119. Best!
0 votes Thank Flag Link Sat Jan 16, 2010
All agencies work differently on commisions as well as what they "include" with the commission. In 19010 commissions can differ depending on:
* Sales Price
* Whether it will be marketed as a lot or a residence
much marketing you are looking for: different agencies have different relationships with the Trulia, Realtor.com's of the world as well as The Main Line Times

0 votes Thank Flag Link Mon Dec 21, 2009
Dear Marjecat,

the real estate commission is always negotiated between you and the Broker you decide to hire, no matter what is the kind of property you are selling or renting (home, lot, commercial, etc.).
The outcome of transaction depends very much also on the type of marketing campaign your Broker performs and how extensive it is, the target audience is aimed to, the money invested on it and many other factors.
My suggestion would be to re-view all these factors with the broker before making a hiring decision.
I will be happy to show you my full extensive marketing plan if you are interested in, my office is right in St. Davids, PA .

Best regards.
0 votes Thank Flag Link Mon Dec 21, 2009
All commissions are negotiable between you and the agent.
0 votes Thank Flag Link Mon Dec 21, 2009
If you are going to formally list your home the commission would be negotiable with the gent you decided to list with however the fact that your going to list it "as/is" would not lower a normal commission. If you are able to find a buyer on your own who is working with an agent you may be able work out paying only a buyers agent commission instead of both a buyers and sellers agent commission.

Please let me know if you need further clarification.
0 votes Thank Flag Link Mon Dec 21, 2009
Commissions are determined by agreement between you and your agent/broker. To my knowledge the condition of the property is not commonly a factor from the broker/agent's perspective.

Builders may be logical buyers for your property, but I would not limit your marketing to them. A good multiple listing should attract all potential buyers, including builders or property developers.
0 votes Thank Flag Link Mon Dec 21, 2009
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