Realtor listing fee

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  • MauserLarry

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    I believe it’s sold ! Now I have figure out what I’m going to buy with the extra 20 something thousand dollars I’ll have left over after paying the title company’s fee. If I had of listed it the real estate company would have made over $3,000 an hour . I’m in the wrong business!

    Well, good for you. If a person has the time (most don't) selling it yourself is a good move. More money in your pocket. Apparently you don't have a good idea of how much time and effort goes into selling a house, no real estate company will ever pocket $3000 per hour to sell a house. It takes longer than that to go look at it, take pics and post it. It still has to be shown and advertised. You probably are in the wrong business. They're still looking for a replacement for George Carlin.
     

    Welldoya

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    On the flip side, I know a realtor who spent thousands of $ advertising a property, spent countless hours showing it, only to have somebody that she showed it to contact the owner and make a backroom deal cutting the realtor out.
    Legally, the realtor could have sued for the fee and I told her she should but my wife’s not like that.
    She’s currently dealing with a cheapskate who’s using a lawyer down south to do the paperwork for him so she’s basically doing the work of both the buyer’s and seller’s agent.
    Several years ago our neighbor sold his house himself. It sold the 2nd day he put the sign out.
    THEN, in a panic, he called my wife to see if he priced it too low.
    It was already a done deal so she told him he did fine. In actuality, he had underpriced it by $65,000.
    So maybe all you guys doing it all yourself are saving tons of money, and maybe not.
     

    kidsoncoffee

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    It's just like any other profession out there. If you know how to do it yourself and are willing to take the liability for your own work, then you stand to save a ton of money doing that. If you don't know how to do it, and aren't willing to take on the liability, then have a professional do it. Take a mechanic for instance. I could probably rebuild my broken transmission with enough time, patience, and a few new tools added to the toolbox. It could also blow up the second I drive it down the road after fixing it. I'd rather pay someone to do it, and have them assume the liability and use their warranty. When a few hundred thousand dollars is on the line and I could be personally liable for screwing that up with the wrong legal paperwork, I'd much rather pay a realtor to assume that liability as well as handle the appropriate comps, advertising, and showings. I looked into listing my home for sale by owner. There's a TON of laws on the books that I would have never thought about. The owner is liable for a lot more than you think.
     

    MauserLarry

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    I'm going through this mess now.

    Trying to buy a house in TX because I just got orders. I get a reference from a friend. First guy is a bum and never contacts me back after a couple attempts. Second reference I call and she sends me a bunch of CRAP listings. Mind you I've already sent her a few I had come across searching Zillow. She was trying to sell me at or above my Max range I gave her. I think she sent me houses that were difficult to sell or she was trying to sell what benefited her the most.

    How f'n difficult is it to tell me if a place is still available or already in the process of closing with the options I sent? Use the info I gave you and the types of houses I'm looking for based on the listings I provided. It's not THAT difficult. I'm paying you thousands of dollars!

    Not to mention I passed over MANY listings out there becase the listing agent posted just one or two, maybe ZERO, pictures. I would be pissed if that was my selling agent!

    Christ!

    I don't have my current house listed yet but I already know that she is going to be fantastic and I can't wait to make a boat load of money. However I see what it's costing me and it makes me sick! Almost 20% of my profits! That is if I was paying full amount. Find a friend in real estate and/or negotiate fees is your best bet.

    I feel bad for you. If you have a local sale or buy it's easy to find a good agent. But having to find one in a different place that's good without being able to go there is probably the luck of the draw. The fact is 20% of the real estate agents sell 80% of the real estate. Somehow you just have to get one of the 20% folks. Did you try going through USAA? They have a relo service that can set you up with a good agent. Good luck!!!!
     

    FLT

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    It seems that a lot of folks here make their living selling real estate.
     

    wildrider666

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    Since Agents get commissions, its pretty normal for them to push houses that are 1. Only their companies Listings because they get seller and buyer %. 2. The higher the price the higher commision they receive. 3. Pressure to sell their Listing that is overpriced that has been on the market a long time. These are the same reasons you may be shown properties: your lender (like V.A.) won't finance but they will push other mortgage Lenders too. Properties that need work/refurbish/bare lot, that you dont want to do, and in areas you don't want to live!

    It's normal to be shown properties that are close to the parameters you set. However, when they keep dragging you to clearly unsat properties: you need to yank on the bit and refocus their attention. You can fire your (buyer's) agent/Agency too. Use the MLS on the Web and have your agent check them out and show them if still avail. If your Identifing more available properties (within you specs) than the agent brings to you: there is a problem with your agent!

    Understand, Agents work multiple clients. There may be times when another agent helps out. You only get head of the line attention during bidding negotiations since these are very time sensitive. In my experience, Seller pays all buyer/seller real estate agencies percentages.
     

    Realtor

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    We sold our house 2 years ago and used a realtor, and he was worth every penny. We had a pretty hard deadline for the sell, as we already had another house out of state. He walked us through the whole process getting the house ready to sell and we had multiple offers and a contract in less than 24 hours. He got us more than we ever thought we could for the house, enough to cover his commission and then some. I never had to lift a finger. No way we could have done it ourselves. He made one of the most stressful times in our life a WHOLE lot easier......by the way, he goes by “Realtor” on this forum if anybody ever needs his services!

    Thanks for the very kind words. You and your wife are among the few that listen to the advice provided.... meaning most people "THINK" they're Real Estate Experts.... Thank you for the opportunity to work with you. It was a very smooth transaction. (I want to get my car over to you this fall too)

    I feel bad for you. If you have a local sale or buy it's easy to find a good agent. But having to find one in a different place that's good without being able to go there is probably the luck of the draw. The fact is 20% of the real estate agents sell 80% of the real estate. Somehow you just have to get one of the 20% folks. Did you try going through USAA? They have a relo service that can set you up with a good agent. Good luck!!!!

    Pick your own Realtor... Let me say that again PICK YOUR OWN REALTOR" Never get in bed with a Realtor that came from a "preferred list" from a lender..... (That's what the internet and phones are for....) Choose your own representation. I wont go into detail, but I could.... disagree if you want, but, we'll go offline for that one...

    It seems that a lot of folks here make their living selling real estate.

    Wrong. Like someone said 20% of Realtors sell 80% of the Real Estate. I think it's more like 10%/90%, in the 15 years I've been doing this, I keep running into and working with the same agents 70-80% of the time... whats that tell you? There are so many people that sell 1-5 homes per year, and call them selves Realtors. Nope, they just have a Real Estate license... These folks are more than likely NOT up on the current regulations, market conditions, laws, proposed building, etc. If these folks can't show a home until they get off their
    husband (or wife) gets home from work to stay with their kinds....well, good luck with that... Beware of struggling Real Estate agents. You know the ones, the ones that will tell you your house will bring 132/Ft, in actuality it's pushing 77/Ft on a really good day, when the neighbors aren't home drinking beer in the garage... Just to get a sign in your yard....

    want more..... lol I do enjoy these discussions sometimes..., simply because most everyone thinks they're a Real Estate Professional.... most everyone.

    One more thing, I had a friend (He may be in this forum) want to have lunch and discuss him getting a Real Estate License. When I asked him why, he said because I can sell a house from time to time, and still have time for other stuff at the same time making bank (in so many words) after I told him the truth, he has since deleted me from his social media, and won't return messages or emails... I guess I hurt his feelings with a dose of reality...

    Selling any buying a home is a very BIG deal, I understand that...
     
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    FLT

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    Selling any buying a home is a very BIG deal, I understand that...

    It is to me, I have half a million dollars tried up in this house. For the record I did offer him $13,100 to sell it. He refused and said he would not list it for less than 5% / $26,200. A $260,000 house at 5% would have got him a $13,100 commission, I don’t believe there is any less involved in selling a $260,00 house than there is in selling a $525,000 one. I believe I have the right to sell personal property with out the blessings of a realtor, apparently some folks don’t share that opinion.
     
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    LowRiderRed

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    It is to me, I have half a million dollars tried up in this house. For the record I did offer him $13,100 to sell it. He refused and said he would not list it for less than 5% / $26,200. A $260,000 house at 5% would have got him a $13,100 commission, I don’t believe there is any less involved in selling a $260,00 house than there is in selling a $525,000 one. I believe I have the right to sell personal property with out the blessings of a realtor, apparently some folks don’t share that opinion.

    Did you have a signed contract with the realtor? My parents are going through a similar situation.
     

    MauserLarry

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    It is to me, I have half a million dollars tried up in this house. For the record I did offer him $13,100 to sell it. He refused and said he would not list it for less than 5% / $26,200. A $260,000 house at 5% would have got him a $13,100 commission, I don’t believe there is any less involved in selling a $260,00 house than there is in selling a $525,000 one. I believe I have the right to sell personal property with out the blessings of a realtor, apparently some folks don’t share that opinion.

    Uhhh, yeah it is a lot harder and more expensive to sell a $525,000 house than it is a $260,000 due to the fact that a hell of a lot more people can afford the cheaper one. they will have to work to sell the more expensive one longer and probably harder. Heritage Plantation proved that not many people are willing to move here of all places and pay that kind of money. And yes, you have the right to do whatever you want with your own place, as it should be. They have the right to ask what they want to handle it as is their right.
     

    Realtor

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    You sound like a decent guy. Don't lump realtors in with lawyers. --- SAWMAN

    LOL

    It is to me, I have half a million dollars tried up in this house. For the record I did offer him $13,100 to sell it. He refused and said he would not list it for less than 5% / $26,200. A $260,000 house at 5% would have got him a $13,100 commission, I don’t believe there is any less involved in selling a $260,00 house than there is in selling a $525,000 one. I believe I have the right to sell personal property with out the blessings of a realtor, apparently some folks don’t share that opinion.

    We agree on something at least...., You must be very fortunate and have a very nice home. For that you can be proud ... You have the right to do what ever you want. What ever happened between you and your Realtor, is just that. It happened between you and him. But I suppose, it makes you feel better to bash the entire profession on a internet forum? Yes, No?
     
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    FLT

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    LOL , I not sure it made me feel any better. I know they’re good and not so good folks in every profession. It would appear from your post that you would fall into the good category. Opinions vary and you can always get a different opinion here. With that said I’m done with this thread. Have a great day.
     

    FrankT

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    There are a few really good realtors and lots of not so good. I have always thought the fees were way too high and try to do myself with a lawyer and title company, sometimes a realtor who will reduce their fees that I know their record and know personally.
     

    Dan1612

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    Everything is negotiable in Real Estate. I’ve sold properties for a few forum members.
    I can confidently say that I made them more money than they paid me, compared to what they would’ve made as a FSBO, just through negotiation, not only of the sale price, but the terms of the contract and EVERYTHING that goes into it, be it repair escrowed, or otherwise. Not to mention a few mortgage payments, had the property sat longer by not being on MLS and the blast fees it goes out to.
    Sometimes I even give them a cut from my commission after closing.
    Yes, you read that right.
     
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    skipperbrown

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    It seems a bit ridiculous to me that I can sell $500,000 in a publicly traded stock on any business day, know how many bidders there are, how much they will bid, execute the transaction in less than 10 seconds, have my money available to me at that time, and it costs me $4.95. It's $4.95 a trade no matter if the stock is worth $1,000 or $1,000,000. On a $1,000 trade, the commission is 1/2 of 1 percent. But if I want to sell a parcel of land, I have to get a contract with an agent who wants 7% (10% for land), another agent gets involved to represent the buyer, I generally only have one bidder and I really don't know how much he is willing to pay, I've got to get an attorney involved to do a title search, pay a title company to do the closing, pay the county to record the deed, and there are others with their hands out wanting money too (e.g. home inspector, surveyor, etc).
     

    FrankT

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    Generally the price of the property is as high as it can be and less "coming down" by the seller because the realtor fees are taken into consideration
     
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