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Real Estate Question We are looking to sell our townhouse and we've never sold a house before. The real estate agent we like charges 5%. Is this something that is negotiable? I know they say to shop around with different agents, but I've looked at the listings in our neighborhood and he is the only one selling property - everyone else's listings just sit on the market. I'm sure he's worth it, but with 5% we actually get less than we paid for it (we bought it 4 years ago at the top of the market - how could we know?) I want to at least get back what we paid for it after fees. They are only listing about $5000 more than we paid.:mad: |
I am not an expert, but I have heard that it is negotiable... It would be worth a try! Good luck! |
I thought 3% was more the norm...do I have that wrong? This market stinks. I suppose selling it yourself is out of the question? |
I do Real Estate closings and I definetly say don't get less than what you paid for your house!!! |
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In this area the standard is 7%, ome will negotiate, some will not The housing market is bad right now, Not much you can do about that. It's a buyersmarket. So eventhough you might have to take a loss on the one you are selling, you will also be buying at a lower cost. So basically it's a wash. Good luck, |
What about for sale by owner???? |
You need to find out if the 5% is for the listing AND selling agent or if it ALL goes to just your listing agent...If the 5% covers both sides, then it is actually low for this area...6% is standard. |
I think that 6% is the norm, and the buyer pays 3% and the seller pays 3%.... but Im not sure if thats exactly how it works. Good Luck selling it though! |
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We have always sold ourselves. It's very easy to sell by owner and of course saves a ton of money. ;) |
Unfortunately, it is a buyer's market, and since you bought when prices were higher, it might be hard to get what you want for your house. Have you already purchased a new one contingent on the sale of the current house? If so, time is of the essence, and you want to leave as soon as possible, so this may be the best agent to deal with. |
At one time here....7% was considered the norm. Now what that means...is you as the seller pay this percentage based on what the house sells for. The listing agent receives 3.5% commission and the selling agent would receive 3.5% Their respective agencies would get half of each agent's. If the listing agent is the agent who sells your home...the entire commission is split between the agent and the agency. Yes, it is negotiable...however be aware when your agent agrees to a lesser commission amount...it also means anyone else selling has to accept a lesser commission also. Some agents will chose to show other homes instead of yours because of that. |
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